Buhari Appoints Mbam As RMAFC Chairman, Amobi Too | Independent Newspapers Limited
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Buhari Appoints Mbam As RMAFC Chairman, Amobi Too

Posted: Jul 26, 2016 at 5:13 pm   /   by   /   comments (0)

Innocent Oweh

Abuja President Muhammadu Buhari has re-appointed Elias Mbam as Chairman for the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC).

The Presidency also approved the appointment of Dr. Marilyn Amobi as the Managing Director and Chief Executive Officer of Nigerian Bulk Electricity Trading Company (NBET).

A statement by Bolaji Adebiyi Director Press, Office of the Secretary to the Government of the Federation, which was made available to journalists, indicated that Amobi’s appointment was for a tenure of four years.

Mbam until his re-appointment was the immediate past chairman of the commission. His initial tenure of five years expired November last year.

His appointment is subject to confirmation by the National Assembly.

Mbam who has proven his mettle on the job, has his functions clearly spelt out in the Third schedule, part one, article 32 of the constitution of the Federal Republic of Nigeria of 1999 (as amended).

Part of his job schedule, provides that (RMFAC) shall have power to among other assignments, monitor the accrual to and disbursement of revenue from the Federation Account; review from time to time, the revenue allocation formula and principles in operation to ensure conformity with changing realities.

RMFAC also has the mandate to ensure that any revenue formula which has been accepted by an Act of the National Assembly should remain in force for a period of not less than five years from the date of commencement of the Act.

It also advises the federal and state governments on fiscal efficiency and methods by which their revenue can be increased; determine the remuneration appropriate for political office holders, including the President, Vice-President, Governors, Deputy Governors, Ministers, Commissioners, Special Advisers, legislators and holders of the offices mentioned in section 84 and 124 of the constitution.