Amidst the bad economy, with high level of poverty, it is reported that Nigerian national assembly members earn very huge salaries that may not be in compliance with the stipulated amounts by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) the body charged with approving salaries of political functionaries in the country. The study undertook and ethical examination of the role of RMAFC in the determination of the salaries of national Assembly members. Descriptive survey design was adopted in line with triangulation method of quantitative and qualitative data. The study population comprised members of the National Assembly, Workers of RMAFC, Social and Political commentators. The 286 copies of questionnaire were administered to respondents, complimented by twelve elite in-depth interviews with some National Assembly members and senior RMAFC staff. Descriptive statistics and content analysis were used in the analysis of quantitative and qualitative data respectively. Nigeria’s National Assembly members are the highest paid legislators in the world. The salaries of the National Assembly members cannot be justified both in terms of the capacity of the economy as well as the high level of poverty in the country. The RMAFC alone should fix the salaries of National Assembly members in strict compliance with the provisions of the 1999 constitution.