The Federal Government has commenced a nationwide revenue recovery exercise aimed at boosting inflows into the Federation Account and plugging financial leakages across key revenue-generating agencies.
This formed the crux of a meeting held on Monday, October 20, 2025, at the headquarters of the Revenue Mobilisation Allocation and Fiscal Commission in Abuja, where its Chairman, Dr. Mohammed Shehu, OFR, hosted the Chairman of the Federal Inland Revenue Service, Zacch Adedeji, for the formal inauguration of consultants engaged for the revenue recovery exercise.
A statement signed by the RMAFC Head of the Information and Public Relations Unit, Maryam Yusuf, on Monday indicated that the initiative is part of efforts to enhance fiscal transparency, strengthen accountability, and ensure that all statutory revenues due to the Federation are duly remitted.
The PUNCH reported on Monday an ongoing probe of alleged revenue under remittance of $42.37bn, an equivalent of N12.91tn, to the federation account between 2011 and 2017.
In his remarks, the RMAFC Chairman reaffirmed the Commission’s determination to strengthen Nigeria’s fiscal governance and ensure that all revenues due to the Federation are fully accounted for and remitted into the Federation Account.
According to him, “This exercise is not a routine administrative action but a deliberate, result-orientated innovation designed to strengthen fiscal governance and ensure every recoverable naira due to the Federation is transparently remitted.”
He explained that the engagement of consultants was a strategic initiative aimed at plugging revenue leakages, enhancing transparency, and boosting the fiscal capacity of the three tiers of government, in alignment with the Renewed Hope Agenda of President Bola Tinubu.
The statement noted, “In line with the constitutional responsibility of the Commission, and with the full support of Mr. President and the Special Advisor to the President on Revenue, as well as the Executive Chairman of the FIRS, this initiative for spatial recovery projects to identify and recover unremitted revenues across sectors of the economy was brought into light.”
The FIRS Chairman, represented by the Coordinating Director of FIRS, Shettima Tamadi, who inaugurated the consultants, commended the RMAFC Chairman for his proactive leadership and also reaffirmed the FIRS’s commitment to effective collaboration with the Commission in realising the objectives of the recovery programme.
He said, “Nigeria has a huge revenue gap, but with stronger collaboration between agencies and partners, we can bridge that gap and achieve sustainable fiscal growth.”
In his speech, the Secretary to the Revenue Commission, Joseph Okechukwu, appreciated all stakeholders for their support and urged the consultants to work diligently to complete the assignment within the stipulated six-month timeframe.
He emphasised that the consultants must ensure that all identified recoverable revenues are promptly returned to the Federation Account to support national development priorities.
Delivering his acceptance speech on behalf of the consultants, the lead consultant, Temitayo Ojeleke, described the engagement as a national call to duty and assured the Commission and FIRS of their commitment to professionalism, transparency, and measurable results.
He said, “We accept this assignment as partners in Nigeria’s economic renewal, ready to deliver results that will strengthen the nation’s revenue base.”
The inauguration marks a significant milestone in RMAFC’s ongoing efforts to enhance inter-agency collaboration, improve accountability, and maximise revenue generation for the collective benefit of the Federation.
punch.ng
FOLLOW US ON:
