Creating an independent agency to take charge of the Federation Account would help minimize the mutual suspicion and tension between the three tiers of government over the management of federal revenues, the Chairman, Revenue Mobilisation, Allocation and Fiscal Commission, RMAFC, Elias Mbam, has said.
At the moment, the Federation Account, which holds the pool of all revenues generated from all government economic activities in the country, is currently managed by the Office of the Accountant-General of the Federation, OAGF, who is the accountant to the Federal Government.
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