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Mbam vows to review revenue formula

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Former Minister of State for Finance, Elias Mbam, yesterday resumed duties for his second tenure as chairman of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) with a vow to go over the new revenue sharing formula in the country.

He was inaugurated last Friday with commissioners representing the states.

Mbam’s reappointment by President Muhammadu Buhari in his first tenure ran into troubled waters, as he and his commissioners were prevented from resuming, even after screening and confirmation by the eighth senate.

Addressing newsmen yesterday on their resumption, he promised to pursue the new revenue formula reportedly favoured the states against the federal government.


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