Section 4: Functions of the Committee.

Notwithstanding the provisions of subsection (2) of section 1 of this Act, the Committee shall-
(a) analyse the annual budget and extract all economic measures requiring enforcement;
(b) work out details on the method of enforcing implementation of the annual budget;
(c)
analyse the monetary guidelines issued by the Central Bank of Nigeria (in this Act referred to as "the Bank") and monitor the implementation of all the measures enumerated therein;
(d) monitor and identify factors inhibiting the realisation of set revenue targets such as tax evasion by individuals or association of individuals, and bodies corporate in the private and public sectors of the economy;
(e) enforce the implementation of existing tax legislation;
(f) assess the report on any project being carried out by the Federal Government and confirm that funds released for Federal Government projects are judiciously utilised;
(g) monitor and report to the Federal Government, on quarterly basis, the inflationary rate, the consumer price index and such other growth indices on output, liquidity and cost of funds, transportation costs, fuel prices and other related tariffs;
(h) recommend any increase or decrease of price on manufactured goods;
(i) monitor the supply and demand of forex, the gap and factors affecting the markets sales and indicated rates, use of forex and operation of the market;
(j) consider any issue appropriate and relevant to the subject of revenue collection;
(k) give a situation report of all its activities on quarterly basis to the Federal Government;
(l) ensure that any defaulter of any of the issues mentioned above or any other matter related thereto is brought before the Federal High Court; and
(m) consider such other matters as may be referred to it from time to time by the President.