Paragraph 1: Introduction of TMRAS and Clarification on Remitta
The Office of the Accountant-General of the Federation (OAGF) has launched the Treasury Management and Revenue Assurance System (TMRAS), a comprehensive platform designed to modernize and streamline the Federal Government’s revenue collection and payment processes. This new system integrates various payment solutions, including the existing Remitta platform, to enhance efficiency and transparency in financial transactions. Contrary to some reports, the government has not abandoned Remitta, which will continue to operate as an approved payment gateway alongside other CBN-licensed providers. The TMRAS aims to improve budget performance, strengthen revenue assurance, and provide real-time analysis of financial inflows for better tracking and management of government funds.
Paragraph 2: Functionality and Benefits of TMRAS
TMRAS serves as a central hub for all financial transactions across Ministries, Departments, and Agencies (MDAs), covering both revenue collection and payments. Its implementation aims to liberalize the revenue collection process, allowing multiple secure payment providers to operate, thereby fostering competition and potentially improving services. The system offers a comprehensive overview of government finances, enabling better tracking of balances, generating bank statements, and automating the deduction and remittance of taxes associated with vendor and contractor payments, including VAT, Withholding Tax, and Stamp Duty. This automation streamlines processes and reduces the potential for errors and delays.
Paragraph 3: Phased Implementation of TMRAS
The implementation of TMRAS is being rolled out in two phases. The first phase, which went live on March 4, 2025, focuses on naira-denominated transactions, enabling MDAs to manage their finances more effectively within the domestic currency. The second phase, scheduled for June 1, 2025, will incorporate foreign exchange transactions and integrate with MDA Enterprise Resource Planning (ERP) systems. This integration will provide a more holistic view of financial activities across government agencies and facilitate better budget control, particularly for MDAs not directly included in the national budget or those managing non-budgetary funds. This phased approach allows for a smoother transition and provides time for adjustments and training.
Paragraph 4: Remitta’s Role and Transition Period
While TMRAS integrates multiple payment providers, Remitta continues to play a crucial role. For a transitional period of at least two months, Remitta will function as the exclusive payment gateway for government transactions, ensuring continuity and minimizing disruption for users. During this period, the OAGF is working on transitioning the front-end payment infrastructure under government management, paving the way for other CBN-licensed payment service providers to participate fully in the system. This transition aims to create a more competitive landscape and provide greater flexibility for users.
Paragraph 5: Continued Use of Remitta and Future Payment Instructions
The OAGF has advised the public and revenue payers to continue using Remitta for federal government transactions during the transition period. For further instructions and updates regarding payment procedures, users can visit the official treasury website, www.fgntreasury.gov.ng. This website will serve as a central resource for information about TMRAS, its functionalities, and the integration of various payment providers. The OAGF is committed to providing clear and accessible information to ensure a smooth transition for all stakeholders.
Paragraph 6: Key Features and Policy Continuity
TMRAS is designed to encompass a wider range of financial activities, including the management of donor funds, trust funds, social security funds, and special funds, enhancing transparency and accountability in these areas. The system also retains the existing policy of automatically deducting 50% of Internally Generated Revenue (IGR) from Federal Government agencies and parastatals. This policy ensures a consistent flow of revenue to the central government and supports national development initiatives. The TMRAS implementation represents a significant step towards modernizing Nigeria’s public financial management system, promoting greater efficiency, transparency, and accountability in the handling of public funds.
