Revenue Mobilisation, Allocation and Fiscal Commission Act

Arrangement of Sections

PART I

Establishment and composition of Commission, etc.

1. Establishment of the Revenue Mobilisation, Allocation and Fiscal Commission.

2. Composition of the Commission.

3. Qualification, etc., of members of the Commission.

4. Tenure of office.

5. Removal of member and cessation of membership.

PART II

Powers and functions of Commission

6. Powers of the Commission.

7. Independence of the Commission.

8. Proceedings of the Commission.

PART III

Organisation and staff

9. Appointment and functions of the secretary.

10. Special provisions as regards personnel.

11. Service in the Commission to be pensionable.

PART IV

Financial provisions and reports

12. Establishment of fund by the Commission.

13. Accounts and audit.

14. Annual report.

PART V

Interpretations

15. Interpretation.

16. Short title.

SCHEDULES

FIRST SCHEDULE

PART A

Offices

PART B

Offices

SECOND SCHEDULE

Proceedings of the Commission

REVENUE MOBILIZATION, UTILIZATION AND FISCAL COMMISSION ACT..

An Act to establish the Revenue Mobilisation, Allocation and Fiscal Commission with the functions, amongst others, of monitoring the accruals to and disbursement of revenue from the Federal Account and reviewing, from time to time, the revenue allocation formulae to ensure conformity with changing realities.

[29th December, 1989] [Commencement.]

PART I

Establishment and composition of Commission, etc.

1. Establishment of the Revenue Mobilisation, Allocation and Fiscal Commission

There shall be established for the Federation a Revenue Mobilisation, Allocation and Fiscal Commission (in this Act referred to as "the Commission") which, under that name, shall be a body corporate with perpetual succession and a common seal and may sue and be sued in its corporate name, and whose members shall exercise the functions specified in the Constitution of the Federal Republic of Nigeria, 1999 and in this Act.

2. Composition of the Commission

The Commission shall consist of a chairman and one member from each State of the Federation and the Federal Capital Territory, Abuja, who are persons of unquestionable integrity with requisite qualifications and experience, to be appointed by the President.