The Federal Government on Tuesday unveiled a new payment platform to complement the Remita, which has been the technological platform for revenue collection into the Federation Accounts over the past few years.
A memo from the Office of the Accountant-General of the Federation (AGF), dated February 28, 2025, indicated that a new platform -Treasury Management & Revenue Assurance System (TMRAS) – was designed to streamline and enhance federal revenue collection and payment processes across ministries, departments, and agencies (MDAs), including those benefiting from donor funds, trust funds, social security funds, and special funds.
The OAGF clarified that Remita would be integrated into the Treasury Management and Revenue Assurance (TMRAS) alongside other eligible Payment Solution Service Providers (PSSPs) for government revenue collection and remittances to enhance liberalisation.
The memo confirmed that the TMRAS system would become operational effective from Tuesday, March 4, but that it would be deployed in two phases, adding that the first phase of its implementation will cover payments and collections for the naira component of revenues only.
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In addition, the TMRAS platform will also enable 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,. amongst other fully integrated revenue functions
According to the AGF, the second phase of the platform’s deployment, which is expected to commence on June 1, 2025, will cover collections and payments involving foreign exchange and integration with MDA Enterprise Resource Planning (ERP) systems.
The memo stated: “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”, adding that the automatic deduction of 50% of Internally Generated Revenue (IGR) from Federal Government agencies and parastatals will remain in effect.
The document further clarified: “The split will be managed through the front-end of the TMRAS. 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. Additionally, the system generates and provides detailed reports to both the OAGF and the MDA for transparency and accountability.
“This measure is aimed at completely eliminating the issuance of manual mandates to further enhance transparency, accountability, and efficient management of public funds”, it added.
Similarly, it also indicated that only CBN-licensed Payment Solution Service Providers approved by the OAGF would be permitted to collect government revenue.
The memo advised all MDAs 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.
It confirmed that the process of profiling PSSPs shall commence immediately, and approved PSSPs by the Treasury shall be certificated and listed on the TMRAS for collections.
However, the memo reflected that in order to ensure a smooth transition, REMITA will continue running concurrently with TMRAS from March 4 to May 4, this year, adding that after this transition period, all MDAs would have stabilized on the new platform and will be expected to initiate their payments only on TMRAS.
The AGF maintained that the new system aligned with the commitment of the Coordinating Minister of Finance and National Economy, to achieve effective Treasury Management, Revenue Assurance, and improved Budget Performance of all Ministries, Departments, and Agencies, including Federal Government-Owned Enterprises (GOEs).
