FG Launches New Revenue Platform, Says Remita Will Be Integrated

The Treasury Management and Revenue Assurance (TMRAS), a new revenue platform, was unveiled by the Federal Government on Tuesday.

The Remita platform, known as the Central Bank of Nigeria (CBN) approved payment gateway, would still be operational, according to the Office of the Accountant General of the Federation (OAGF) in a statement released on Tuesday.

Remita would be integrated into the TMRAS along with other eligible Payment Solution Service Providers (PSSPs) for government revenue collection and remittances in order to promote liberalization, according to a statement signed by an OAGF spokesperson, Bawa Mokwa.

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The Office claimed that the TMRAS policy was developed in accordance with President Bola Tinubu’s and Wale Edun’s recommendations to achieve effective treasury revenue assurance and improved budget performance across all ministries, departments, and agencies.

The Federal Government’s revenue collections and payments are managed by the Treasury Management and Revenue Assurance (TMRAS), which is intended to coordinate, streamline, and manage all MDAs’ Ministries, Departments, and Agencies (MDAs).

The office claimed that it would facilitate efficient, timely analysis of the information regarding government revenue payments and enhance revenue collections.

Remita is one of the “secured channels of revenue payment,” according to Remita. These other reliable payment systems will now be connected through the TMRAS (Tashlor Management and Revenue Assurance).

“So, it won’t just be Remita, but it will also be possible for all other payment service providers that are CBN licensed to operate.”

Remita has been the only approved payment gateway for Federal Government payments and revenue collection for at least two months, the OAGF clarified in order to lessen concerns about revenue payers and the general public.

Source: Channels TV