*Mohammed Bello Shehu, Chairman of the Revenue Mobilisation Allocation And Fiscal Commission, explains the accrued figure was captured in the monthly report to the Federation Account Allocation Committee by the Central Bank of Nigeria

Isola Moses | 绿帽献妻

The Revenue Mobilisation Allocation And Fiscal Commission (RMAFC), in Nigeria, has disclosed a total of N5,244,037,636,561.60 accrued into the Federation Account between January and June 2023.

绿帽献妻 reports the figure was captured in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) under the caption “CBN Federation Account Component Statement”.

Mr. Mohammed Bello Shehu, Chairman of RMAFC, in a statement issued Wednesday, September 20, 2023, disclosed of the total gross revenue inflows into the Federation Account, the sum of N627,301,922,426.35 was NNPCL JV Petroleum Profit Tax (PPT) due, captured and recorded by the FIRS, but utilised by the NNPCL for other FGN obligations.

The statement noted from the reports, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted the sum of N823,512,065,893.15 while the Federal Inland Revenue Service (FIRS) made a gross collection of N3,655,894,989,129.28, but remitted N3,028,593,066,702.93 retaining the difference as the cost of collection.