RMAFC on Wednesday opposed a request for 0.5 per cent of Federation Account revenue to be deducted and transferred to the Police Trust Fund (PTF).
Revenue Mobilisation, Allocation and Fiscal Commission
The letter also listed other sources of the Trust Fund’s funding to include 0.005 per cent of the net profit of companies operating as business in Nigeria; any takeoff grant, special intervention fund as may be provided by the federal, state and local governments in the federation. He said all monthly deductions of the share of the Police Trust Fund from the Federation Account should be transferred into its dedicated account effective January 2020.
Mr Mbam said listing the sources of funding for the Trust Fund to include 0.5 per cent of the total revenue accruing to the Federation Account “was inconsistent with the provisions of Section162 of the 1999 constitution as amended.” The RMAFC boss said “any law that is inconsistent with the provisions of the Constitution of the Federal Republic of Nigeria shall be null and void to the extent of its inconsistency”.
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