The Office of the Accountant General of the Federation (OAGF) confirmed that Remita remains the approved payment gateway for Federal Government transactions amid the launch of the Treasury Management and Revenue Assurance System (TMRAS). TMRAS will also integrate other Payment Solution Service Providers (PSSPs) approved by the Central Bank of Nigeria (CBN) to enhance revenue collection processes.
The Office of the Accountant General of the Federation (OAGF) has confirmed that the Federal Government of Nigeria has not replaced Remita, the payment gateway approved by the Central Bank of Nigeria (CBN). This clarification was provided by Bawa Mokwa, the Director of Press and Public Relations, in a statement issued in Abuja on Wednesday.
Mokwa indicated that Remita will be integrated into the Treasury Management and Revenue Assurance System (TMRAS) alongside other eligible Payment Solution Service Providers (PSSPs) to facilitate government revenue collection and remittances, thereby promoting liberalisation. The TMRAS had become operational as of March 4.
The development of TMRAS was guided by directives from President Bola Tinubu and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The objective is to achieve effective treasury revenue assurance and to enhance the budget performance of all Ministries, Departments, and Agencies (MDAs) as well as Federal Government Owned Enterprises (FGOEs).
Mokwa elaborated that TMRAS is intended to coordinate and streamline revenue collections and payments across all MDAs. This system aims to liberalise government revenue payment processes, improve revenue collections, and enable efficient and timely analysis of transaction data.
He emphasized that Remita is a secure channel for revenue payment but noted that there are multiple other secure payment platforms available. The implementation of TMRAS will permit these other platforms, which are licensed by the CBN, to connect with the system.
Although Remita is currently the approved payment gateway for Federal Government payments and revenue collection, Mokwa stated that this status is expected to last for at least two months. He added that the government is progressing toward managing the front-end payment infrastructure and expanding the revenue collection system to encompass all licensed PSSPs.
The Federal Government of Nigeria has affirmed the continued use of Remita as a key payment gateway while integrating it with the new Treasury Management and Revenue Assurance System (TMRAS). The system aims to streamline revenue collection from all governmental bodies and allow for additional licensed payment platforms. As the government adapts to these changes, stakeholders are encouraged to utilize Remita for revenue payments temporarily while further developments unfold.
Original Source: businessday.ng
