RMAFC Reaffirms Commitment to Fair Remuneration for Public, Political, and Judicial Officers

Maryam Aminu

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has reassured Nigerians of its dedication to reviewing and recommending appropriate remuneration for political, public, and judicial office holders in line with its constitutional mandate.

Dr. Mohammed Bello Shehu, OFR, Chairman of RMAFC, gave this assurance while receiving a delegation from the Investment and Securities Tribunal (IST), led by its Chairman, Hon. Amos Isaac Azi, on a courtesy visit. Dr. Shehu emphasized that the Commission would conduct a thorough review of IST’s salary structure to ensure it aligns with constitutional provisions.

Acknowledging IST’s critical role in Nigeria’s capital market, Dr. Shehu commended the tribunal’s global recognition as a model for specialized adjudication.

He highlighted its contribution to investor confidence by efficiently resolving disputes among investors, companies, and individuals, thereby promoting financial stability.

“We recognize the remarkable work being done by the IST. Your role in ensuring swift and fair dispute resolution is instrumental to market stability. Given the importance of your work, it is only right that we give due attention to your remuneration structure to ensure it reflects your responsibilities,” Dr. Shehu stated.

He assured the IST delegation that the Commission would approach the review with urgency, emphasizing that while such processes take time due to required consultations, RMAFC remains committed to delivering a fair and just recommendation.

Earlier, Hon. Amos Isaac Azi had urged the Commission to ensure that the IST Chairman, members, and Chief Registrar receive salaries equivalent to those of the Chief Judge, Judges, and Chief Registrar of the Federal High Court, as stipulated in Section 220 of the Investment and Securities Act 2007.

“As the custodian of investment dispute resolution in Nigeria, the Investment and Securities Tribunal must remain a beacon of efficiency and investor confidence. Just as the law mandates parity in remuneration between the Tribunal and the Federal High Court, its implementation must reflect this statutory provision without delay,” Hon. Azi stressed.

He also highlighted the tribunal’s achievements, including the resolution of over ₦1.3 trillion worth of disputes in favor of investors and government agencies, as well as its pioneering role in introducing verbatim transcription and virtual hearings in Nigeria.

During the visit, the IST Chairman presented the Nigerian Investment and Securities Tribunal Law Reports, a publication showcasing the tribunal’s commitment to legal excellence and transparency in capital market adjudication.

In her vote of thanks, Hon. Rakiya Tanko Ayuba Haruna, Federal Commissioner representing Kebbi State in RMAFC, expressed appreciation for IST’s engagement with the Commission. She reaffirmed RMAFC’s dedication to ensuring fair and just remuneration for all public institutions in line with constitutional provisions.

“RMAFC remains committed to reviewing and recommending appropriate remuneration structures, ensuring compliance with constitutional mandates while supporting institutions like the Investment and Securities Tribunal in their efforts to strengthen Nigeria’s financial sector,” she stated.