Indications are that the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) may have renewed calls for the expulsion of some sections in the Finance Act, insisting that its autonomy remains sacrosanct.
The Commission which has a Constitution mandate to monitor revenue accrual into the Federation Account and disbursement of revenue from the Federation Account to the three tiers of government had gone to the Federal High Court to seek interpretation of the Finance Act, 2021 which was just passed on 31st December, 2021.
According to the Commission, the Finance Act does not possess the powers to stop its operations or monitoring activities as enshrined in the constitution.
The case was scheduled for hearing on the 1st February, 2022 but adjourned to 10th of March, 2022.
The Commission in the suit filed against the Attorney General of the Federation, Minister of Finance, Budget and National Planning and the Federal Inland Revenue Service all as defendants, sought interpretation of Section 68 of the Federal Inland Revenue Service (Establishment) Act 2007 as amended by the Finance Act 2021, Section 89 of the Stamp Duties Act as Amended by the Finance Act 2021) and Section 4 of the Finance (Control and Management) Act as amended by the Finance Act 2021 respectively.
