The Federal Government is set to revolutionize its financial operations by integrating Remitta into a newly launched Treasury Management and Revenue Assurance System (TMRAS), ending its exclusive status as the government’s payment gateway. Hobnob News has learned that this move aims to streamline revenue collection, enhance transparency, and improve budget performance.
The Office of the Accountant General of the Federation (OAGF) clarified that Remitta has not been abandoned, but rather incorporated into a broader system alongside other eligible Payment Solution Service Providers. This decision, driven by directives from President Bola Tinubu and Minister of Finance Wale Edun, will “liberalise” government revenue collection and remittances.
TMRAS, which officially went live on Tuesday, March 4, 2025, will serve as a comprehensive platform coordinating revenue collections and payments for all Ministries, Departments, and Agencies (MDAs). The system is designed to allow multiple secure payment providers, licensed by the Central Bank of Nigeria (CBN), to operate alongside Remitta, increasing efficiency and access.
“The OAGF explained that Remitta would rather be integrated into the Treasury Management and Revenue Assurance alongside other eligible Payment Solution Service Providers for government revenue collection and remittances to enhance liberalisation,” the OAGF statement said.
While Remitta remains a secure and approved channel, it will no longer be the sole platform for government payments. The OAGF emphasized that this modernization effort will provide better tracking, transparency, and real-time analysis of revenue inflows.
To ensure a smooth transition, Remitta will continue to function as the exclusive payment gateway for government transactions for at least the next two months. The OAGF is working to transition the front-end payment infrastructure under government management, allowing more CBN-licensed payment service providers to participate.
Revenue payers and the general public are advised to continue using Remitta for federal government transactions and to visit www.fgntreasury.gov.ng for further payment instructions.
A memo from the OAGF, dated February 28, 2025, revealed that TMRAS will be deployed in two phases. The first phase, now active, covers payments and collections for the naira component, enabling the OAGF and MDAs to generate bank statements, track balances, and automate tax deductions on vendor and contractor payments.
The second phase, commencing June 1, 2025, will cover foreign exchange transactions and integration with MDA Enterprise Resource Planning systems. It will also activate a budget module for MDAs not in the national budget and enforce budget control.
The automatic deduction of 50 percent of Internally Generated Revenue from Federal Government agencies and parastatals will remain in effect. This integration marks a significant step towards modernizing Nigeria’s financial infrastructure, ensuring greater efficiency and transparency in government transactions. Hobnob News will continue to monitor the implementation of TMRAS.
