The Federal Government of Nigeria (FGN) is set to launch a new payment platform for revenue collection named Treasury Management & Revenue Assurance System (TMRAS) in place of Remita.
The latest initiative will be unveiled on March 4, 2025 [today].
In a statement released on February 28 from the Office of the Accountant General of the Federation (OAGF), the new platform is structured to manage revenue collections and payments across federal ministries, departments, and agencies (MDAs). It includes those benefiting from donor funds, trust funds, social security funds, and special funds.
FG stated that the system will be deployed in two phases where the first phase, set to be deployed on March 4, will cover payments and collections for the naira component only.
In addition, the system will allow the OAGF and MDAs to generate bank statements, track balances, and activate automatic deduction and remittance of taxes associated with vendor and contractor payments, including VAT, Withholding Tax, and Stamp Duty.
“All MDAs, including those that currently access funds at the CBN through the Remita platform,
shall now access their funds via the Treasury Management and Revenue Assurance System using the OAGF website (www.fgntreasury. gov.ng),” it added.
For the second phase, the FG explained that it will cater to all collections and payments involving foreign exchange and integration with MDA Enterprise Resource Planning (ERP) systems. This phase will be deployed on June 1, 2025.
“This phase shall also cover activation of the budget module for MDAs not in the national budget and other non-budgetary financial activities to enforce budget control,” the statement reads.
Further, the document pointed out that the automatic deduction of 50 per cent of internally generated revenue (IGR) from FG agencies and parastatals will remain in effect.
The FG explained that the split will be managed through the front-end of the TMRAS where the system is designed to automatically split IGR to ensure immediate remittance of the split to both the Federal Government’s account and the dedicated accounts of the respective MDA. Also, the system generates and provides detailed reports to the OAGF and the MDA for transparency and accountability.
It added that all extra-budgetary payments, including those from Special Accounts, will now be processed exclusively through TMRAS.
“This measure is aimed at completely eliminating the issuance of manual mandates to further enhance transparency, accountability, and efficient management of public funds,” the statement reads.
More on FG’s revenue collection mode restructuring
While noting the modalities and structure of the Treasury Management & Revenue Assurance System (TMRAS), the FG noted that only CBN-licensed Payment Solution Service Providers (PSSPs) permitted by the OAGF will be allowed to collect government revenue.
“MDAs are advised to direct all PSSPs currently collecting on their behalf to connect with the official CBN-payment gateway, for instant coordination of government collections on the platform. The process of profiling PSSPs shall commence immediately, and approved PSSPs by the Treasury shall be certificated and listed on the TMRAS for collections.”
To enable an effective adoption and transition, the REMITA payment medium will continue to run simultaneously with TMRAS for the next two months. “After this transition period, all MDAs would have stabilized on the new platform and will be expected to initiate their payments only on TMRAS,” it added.
On “the why” of the transition, the FG explained that the process aligns with the plans of the Coordinating Minister of Finance and National Economy, Wale Edun, in achieving effective Treasury Management, Revenue Assurance, and improved Budget Performance of all Ministries, Departments, and Agencies, including Federal Government-Owned Enterprises.
Wale Edun, Nigeria’s Minister of Finance
While the new payment system in order to achieve more effectiveness is sighted as a welcome development, it comes amidst moves by the FG to set up a one-stop digital platform for public services.
The plan, structured to imitate Ukraine’s e-governance, spearheaded by the National Information Technology Development Agency (NITDA), is aiming to transform how citizens access government operations and help the country meet its goal of digitizing 75 per cent of public services by 2027.
NITDA claimed that by removing bureaucratic bottlenecks and ensuring faster, more effective service delivery, the portal will make it easier for citizens to interact with government institutions.
Users will be able to access everything from license renewals and tax payments to health services and social benefits via a single, easily accessible online portal, dismantling the current compartments of government operations.
