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Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has advised revenue generating Ministries, Departments and Agencies (MDAs) to halt spending revenues collected on behalf of the Federal Government on themselves, warning that doing so was inimical to national development.
He said that the global best practice was for all MDAs to remit all collected government revenues to the federation accounts from where they are disbursed back to the MDAs through budgetary allocations as provided for in the national, state and local government development plans.
Nami gave the advice on Tuesday at the FIRS headquarters in Abuja during a courtesy call on him by the Executive Governor of Niger State, Alhaji Abubakar Sani-Bello.
The FIRS boss said: “Revenue generating Ministries, Departments and Agencies (MDAs) should stop spending money generated for the Federal Government at source. The practice whereby MDAs spend the revenue generated and only send what is left or their surplus to Federation Accounts hinders national development plan. The best practice is for the generated revenues to be remitted in total to the Federation Accounts first.
