?Publishes Full Memorandum

The Economic Confidential has reaffirmed the accuracy of its report detailing the Revenue Mobilisation Allocation and Fiscal Commission?s (RMAFC) opposition to aspects of President Bola Tinubu?s Tax Reform Bills. Based on a nine-page memorandum from the RMAFC, the report highlighted concerns about the bills? potential to infringe on the commission?s constitutional powers.

According to the memorandum, the RMAFC asserted its exclusive mandate to develop formulas for sharing revenues, including Value Added Tax (VAT). It warned that any deviation from this process would be ?inappropriate and potentially unconstitutional.?

The Economic Confidential?s report prompted a press conference by RMAFC Chairman Mohammed Shehu, who denied opposing the tax reform bills and accused the media of misrepresentation. However, Economic Confidential stands by its story, asserting that the memorandum unequivocally outlined the commission's constitutional objections to the bills.

Abdulrahman Abdulraheem, Managing Editor of Economic Confidential, defended the publication?s integrity, stating, ?The memorandum was thoroughly vetted and deemed authentic. It was professionally structured, included statistical data and historical context, and adhered to the formal characteristics of RMAFC?s official communications. Our reporting is accurate and reflects the facts presented in the document.?

He added: "In this digital age, transparency and accountability are paramount. Attempts to deflect scrutiny by blaming the media are outdated. We remain steadfast in our commitment to fact-based reporting.?

The memorandum, which has now been made public on the Economic Confidential website, raised concerns over several provisions in the Tax Reform Bills. It referenced Section 162(2) of the 1999 Constitution, which grants the RMAFC exclusive authority to determine revenue-sharing formulas among Nigeria?s three tiers of government.

The document began by commending President Tinubu?s intention to reform Nigeria?s tax system but subsequently flagged legal concerns, stating:

?Only the RMAFC has the mandate to produce formulas for sharing revenues, including VAT. Any deviation from this constitutionally backed process is both inappropriate and potentially unconstitutional.?

The memorandum also emphasized that the Constitution is supreme and does not permit any Act of Parliament, including the VAT Act, to usurp the RMAFC?s authority. It stated:

?Section 162(2) of the 1999 Constitution empowers the RMAFC to determine the formula for the equitable sharing of revenue among the three tiers of government. The supreme Constitution does not envisage that any other Act of Parliament, such as the VAT Act, could assume this responsibility. Any such attempt would contravene the Constitution.?

Despite the detailed concerns expressed in the memorandum, Chairman Mohammed Shehu distanced the commission from its contents during a subsequent press conference. He accused media outlets, including Economic Confidential, of misrepresenting the commission?s position and misleading the public.

The controversy surrounding the RMAFC?s stance on the Tax Reform Bills highlights critical governance, transparency, and constitutional adherence issues in Nigeria?s public sector. As stakeholders await further developments, the incident underscores the importance of a robust media that holds institutions accountable while fostering informed public discourse.

Economic Confidential remains committed to delivering factual and unbiased reporting in the interest of transparency and accountability.

Read the Full Text of the RMAFC Memorandum on Tinubu?s Tax Reform: https://economicconfidential.com/2024/12/rmafc-memorandum-tinubu-tax/ (By PRNigeria)

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