The Federal Government has solicited the collaboration of deposit money banks (DMBs) and other financial institutions (OFIs) in its current fiscal reform initiatives aimed at enhancing revenue generation through the adoption of digital technology tools and solutions.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, who made the appeal in his address at a sensitisation workshop organised by the Office of the Accountant-General of the Federation on Friday in Abuja, said that the new Revenue Optimisation Assurance Platform (RevOp) was introduced to improve revenue generation processes by blocking leakages and enhancing transparency in public finance management.
Oyedele, who was represented at the forum by the ministry’s Permanent Secretary, Special Duties, Mohammed Danjuma, described RevOp as a centralised digital revenue collection and monitoring system that provides a real-time automated framework for federal agencies to raise, collect and report revenues.
The minister said: “RevOp serves as a critical tool in the government’s drive to improve revenue administration, reduce leakages, and enhance public sector accountability.”
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While reiterating the government’s commitment to improving revenue generation, strengthening accountability, and leveraging technology to enhance efficiency across public financial management processes, Oyedele explained that the RevOp replaced the manual processes that had hampered effective collection of federal revenues over the past years.
According to him, although remarkable progress has been made since the adopting of the RevOP platform, there are still some challenges to tackle on its implementation, particularly low awareness about its roles in the fiscal efficiency drive among banking channels and frontline officers.
Oyedele noted that some banking personnel were still unfamiliar with the platform, its objectives and the procedures required to support transactions processed through it.
He maintained that the challenges, though operational in nature, had significant impacts on the overall customer experience and effectiveness of the RevOp.
The minister stressed that the success of the initiative depended on collaboration between the government and the DMBs and OFIs in view of their critical roles in the economy, pointing out they are expected to ensure that government revenue collection processes remain efficient and user-friendly.
On the purpose of the sensitization workshop, he explained that the forum was organised to deepen understanding of the platform, clarify operational processes, address concerns, and establish stronger communication channels between the project team and participating financial institutions.
The minister expressed optimism that the knowledge gained by the participants from the workshop would “cascade throughout your respective organisations, especially to branch operations, customer service personnel and tellers who interact directly with customers on a daily basis.”
Speaking at the forum, the Accountant-General of the Federation, Shamsedeen Ogunjimi, said the RevOp portal was adopted as a strategic tool to enhance government’s revenue collection, reconciliation, monitoring and reporting.
Represented by the Chief of Staff of the Office, Felix Ogundairo, the Accountant-General maintained that the the platform would provide greater visibility into government revenue, eliminate leakages, improve compliance and support informed decision-making through real-time data and analytics.
Speaking at the workshop, the Director of Revenue and Investment at the OAGF, Adebayo Adewale, disclosed that more than 70 per cent of Federal Government-owned entities had adopted the RevOp platform.
He said: “Today’s sensitisation is aimed at bringing to your knowledge that RevOp generates the bill and collects Federal Government revenue using the existing licensed payment solution system providers and commercial banks nationwide. This is very critical because people shall be presenting RevOp bills to commercial banks for payment, and we expect prompt collection.”
The RevOp Product Manager, Idris Dosunmu, told the participants that the platform integrates billing, payment and settlement processes under a single system thereby ensuring transparency from bill generation to remittance into government accounts.
