Nigeria’s government retains Remitta as its payment gateway and integrates it with the new Treasury Management and Revenue Assurance System (TMRAS). This integration aims to enhance revenue collection and budget performance by including other licensed Payment Solution Service Providers. Remitta remains the primary payment method for federal revenue for at least two months, as the system officially began operations on March 4.
The Office of the Accountant General of the Federation (OAGF) has confirmed that Remitta will continue as the Central Bank of Nigeria’s approved payment gateway. Bawa Mokwa, director of press and public relations, clarified that Remitta will be integrated into the Treasury Management and Revenue Assurance System (TMRAS), which will also incorporate other eligible Payment Solution Service Providers (PSSPs) to facilitate government revenue collection and payments.
TMRAS officially began operations on March 4. This system was developed following guidance from President Bola Tinubu and Finance Minister Wale Edun, aiming to improve treasury revenue assurance and enhance the budget performance of all Ministries, Departments, and Agencies (MDAs), as well as Federal Government Owned Enterprises (FGOEs).
According to Mokwa, the TMRAS is intended to coordinate and manage Federal Government revenue streams seamlessly. It is designed to liberalize payment processes, improve revenue collection, and provide efficient analysis of transaction data. Mokwa emphasized that while Remitta is a secure revenue payment channel, the system will now incorporate multiple secure platforms licensed by the CBN, thereby enhancing operational flexibility.
Remitta remains the exclusive payment gateway for Federal Government revenue collection for at least two months. The government plans to take control of the front-end payment infrastructure and broaden the collection system to include more licensed PSSPs. Mokwa also encouraged revenue payers to continue utilizing Remitta or visit www.fgntreasury.gov.ng for federal payments.
The Nigerian government has confirmed that Remitta will continue as an approved payment gateway while integrating it into the new Treasury Management and Revenue Assurance System (TMRAS). This system aims to enhance revenue collection processes and budget performance across various government agencies, allowing various licensed payment service providers to operate alongside Remitta. The government encourages continued use of Remitta for all federal payments.
Original Source: businessday.ng
