The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says that it has recovered more than N474 million from Guinness Nigeria Plc being unremitted excise duties. The funds have been paid into government’s treasury account.
RMAFC spokesman Christian Nwachukwu said this in an emailed statement. RMAFC chairman Mr Elias Mbam said that the recovery was part of the progress recorded by its verification exercise on selected manufacturing companies in Nigeria.
Mr Mbam also said that the exercise was conducted on companies that paid excise duties into the federation account. The chairman said that excise duty was one of the major revenues collected by the Nigerian Custom Service (NCS). He said that the federation account currently recorded low revenue generation because of non-compliance by some manufacturing industries.
He added that there was the need for manufacturing companies to give adequate attention to excise duty payment to increase revenue inflow to the federal government.
RMAFC praised Hameed Ali, the Comptroller General of the Nigeria Customs Service for his agency’s role in the recovery of unremitted funds.
Guiness Nigeria PLC’s spokesperson Viola Graham Douglas did not request to an email seeking comment from the Lagos Times.