President Muhammadu Buhari has inaugurated the board of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC).

Our correspondent reports that thirty commissioners were inaugurated on Thursday by the President, with Mr Elias Mbam as the Chairman.

The ceremony took place at the Presidential Villa, Abuja.

CEOAFRICA learnt that the RMAFC is the body responsible for preparing the formula for sharing revenues among the three tiers of government in the country.

The body is also responsible for fixing the remuneration of political office holders as well as monitoring the revenues accruing to the federation account from revenue-generating agencies.

Details coming…