The Nigerian Federal Government, through the Office of the Accountant General of the Federation (OAGF), has clarified its position on the utilization of Remitta, the existing payment gateway, amidst the implementation of a new treasury management system. Contrary to speculations of its abandonment, Remitta will be integrated into the newly launched Treasury Management and Revenue Assurance System (TMRAS), ensuring its continued role in government revenue collection. This integration signifies a shift towards a more liberalized approach, accommodating other Central Bank of Nigeria (CBN) licensed payment providers alongside Remitta, ultimately broadening access and enhancing efficiency within the government’s financial ecosystem.
TMRAS, officially launched following directives from President Bola Tinubu and the Minister of Finance, Wale Edun, represents a significant stride in modernizing Nigeria’s financial infrastructure. Its overarching goal is to bolster revenue assurance, enhance budget performance, and streamline revenue collection and payment processes across all Ministries, Departments, and Agencies (MDAs). By consolidating these functions onto a unified platform, TMRAS aims to provide greater transparency, real-time monitoring of revenue inflows, and improved analytical capabilities for better fiscal management and decision-making.
The integration of multiple payment providers is a cornerstone of TMRAS, promoting healthy competition and potentially driving innovation in payment solutions. While Remitta maintains its status as a secure and approved channel, its exclusivity has been rescinded, paving the way for other CBN-licensed Payment Solution Service Providers (PSSPs) to participate. This strategic move is expected to expand payment options for citizens, increase efficiency, and reduce reliance on a single platform. The OAGF emphasizes that this transition represents a forward-looking approach, aimed at fostering a more robust and dynamic financial ecosystem.
To ensure a smooth transition and allay any concerns about potential disruptions, the OAGF has confirmed that Remitta will remain the primary payment gateway for government transactions for at least two months following TMRAS’s launch. During this period, efforts will be focused on transferring the front-end payment infrastructure under government management, facilitating the seamless onboarding of additional CBN-licensed PSSPs. This phased approach is designed to minimize disruption to existing processes while progressively expanding the range of payment options available to the public. The OAGF has further directed users to its official website for detailed payment instructions and updates regarding the integration process.
A memo from the OAGF, dated February 28, 2025, provides a detailed roadmap for the TMRAS implementation, outlining a two-phased approach. The first phase, commencing on March 4, 2025, focuses on Naira-denominated payments and collections, facilitating bank statement generation, balance tracking, and automated deduction/remittance of associated taxes (VAT, Withholding Tax, and Stamp Duty) for vendor and contractor payments. This initial phase sets the groundwork for streamlined processes and enhanced financial control within the government’s domestic transactions.
The second phase, scheduled for June 1, 2025, expands TMRAS’s capabilities to encompass foreign exchange transactions and integration with MDA Enterprise Resource Planning (ERP) systems. This phase will also activate the budget module for MDAs not included in the national budget and incorporate other non-budgetary financial activities to ensure robust budget control. Additionally, the memo reaffirms the existing policy of automatically deducting 50% of Internally Generated Revenue (IGR) from Federal Government agencies and parastatals, further reinforcing efforts to consolidate and manage government revenue effectively. This comprehensive two-phased deployment strategy underscores the government’s commitment to a systematic and well-managed transition, minimizing disruptions and maximizing the benefits of the new TMRAS platform.
