The Federal Government on Tuesday launched a new revenue platform, the Treasury Management and Revenue Assurance (TMRAS).
The government also revealed that the Central Bank of Nigeria’s (CBN) approved payment gateway, Remita, would remain in place and be integrated into the new platform.
The Director of Press in the Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, announced this in a statement on Tuesday in Abuja.
He said that Remita would be integrated into the TMRAS alongside other eligible Payment Solution Service Providers (PSSPs) for government revenue collection and remittances to enhance liberalisation.
This initiative, according to him, aims to enhance government revenue collection, remittances, and promote a more liberalised payment system.
The spokesman noted that the TMRAS policy was developed in line with the directives of President Bola Tinubu and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to achieve effective treasury revenue assurance and improved budget performance of all Ministries, Departments and Agencies (MDAs) and Federal Government Owned Entities (FGOEs).
The statement read: “The Treasury Management and Revenue Assurance (TMRAS) is designed to coordinate, streamline and manage the federal government’s revenue collections and payments for all Ministries, Departments and Agencies (MDAs). It will guarantee the liberalisation of government revenue payment processes, enhance revenue collections, and aid efficient, timely analysis of the information regarding such transactions.
“Remitta is one of the secured channels of revenue payment, but there are many others. The Treasury Management and Revenue Assurance System (TMRAS) will now allow these other secure payment platforms to connect. So, it will not be only Remitta, but all the other payment service providers that are licensed by the CBN will be able to operate.”
To allay the fears of revenue payers and the general public, the Mokwa clarified that “Remitta remains the only approved payment gateway for Federal Government payments and revenue collection for at least two months.
He, however, stressed that the government is working to take over the management of the front-end payment infrastructure and expand the collection system to accommodate other Central Bank of Nigeria (CBN) -licensed Payment Solution Service Providers (PSSPs).
By: Babajide Okeowo
Source: Ripples