The Federal Government of Nigeria on Tuesday unveiled a new payment platform, the Treasury Management & Revenue Assurance System (TMRAS), to replace REMITA, which has been in use for revenue collection since 2012.
The new platform aims to enhance the efficiency, transparency, and accountability of federal revenue collections and payments across ministries, departments, and agencies (MDAs), including entities managing donor funds, trust funds, social security funds, and special funds.
This development was disclosed in a memo from the Office of the Accountant General of the Federation (OAGF), dated February 28, 2025. The memo stated that TMRAS would go live on March 4, 2025, and its deployment would occur in two phases.
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Two-Phase Deployment Plan
According to the memo, the first phase will handle only naira-denominated transactions. It will enable the OAGF and MDAs to generate bank statements, monitor account balances, and facilitate automatic deduction and remittance of taxes related to vendor and contractor payments, including Value Added Tax (VAT), Withholding Tax, and Stamp Duty.
The second phase, set to commence on June 1, 2025, will expand to cover foreign exchange transactions and integrate with MDA Enterprise Resource Planning (ERP) systems. This phase will also activate a budget module for MDAs not included in the national budget and manage other non-budgetary financial activities to enforce budgetary control.
One significant feature of TMRAS is the continuation of the automatic deduction of 50% of Internally Generated Revenue (IGR) from federal government agencies and parastatals. The system is designed to automatically split IGR, ensuring immediate remittance to both the Federal Government’s account and the dedicated accounts of the respective MDA. The platform will also provide detailed reports to both the OAGF and the MDA to enhance transparency and accountability.
The memo emphasized that all extra-budgetary payments, including those from Special Accounts, must now be processed exclusively through TMRAS. This measure aims to eliminate manual mandate issuance, promoting a more efficient and transparent management of public funds.
To ensure a smooth transition, REMITA will continue to operate concurrently with TMRAS from March 4 to May 4, 2025. After this period, all MDAs are expected to have fully migrated to TMRAS for payment initiation.
Additionally, only Payment Solution Service Providers (PSSPs) licensed by the Central Bank of Nigeria (CBN) and approved by the OAGF will be allowed to collect government revenue. MDAs have been instructed to direct all PSSPs currently collecting on their behalf to integrate with the official CBN payment gateway to align with the new system. The profiling and certification of PSSPs will commence immediately, with approved PSSPs listed on the TMRAS for collections.
Clarification on REMITA’s Role
Despite the launch of TMRAS, the OAGF has clarified that REMITA, as a CBN-approved payment gateway, will remain operational. In a statement on Tuesday, March 4, the OAGF spokesperson, Bawa Mokwa, noted that REMITA would be integrated into TMRAS alongside other eligible PSSPs to promote payment liberalization.
“REMITA will continue to play a vital role as a licensed payment gateway within the new TMRAS ecosystem,” Mokwa said. “This integration aims to enhance transparency, efficiency, and broaden the payment options available to MDAs and the public.”
This assurance follows directives from President Bola Tinubu and the Coordinating Minister of Finance and National Economy, Wale Edun, to enhance treasury revenue assurance and improve budget performance across MDAs. Edun’s vision for TMRAS aligns with broader government objectives of achieving effective treasury management and improved financial performance among federal institutions.
The OAGF also revealed that the government is transitioning to take over the management of the front-end payment infrastructure, which had previously been managed by SystemSpecs, the developer of REMITA. This shift aims to broaden the collection system to accommodate additional CBN-licensed PSSPs, enhancing the efficiency and flexibility of revenue collection processes.
The introduction of TMRAS is expected to significantly boost the government’s ability to manage revenue collections and payments more effectively. Remita has been serving as the gateway for the Treasury Single Account (TSA) of the Nigerian government since 2012.
However, the success of TMRAS will depend on the seamless integration of current PSSPs and the system’s capacity to handle the complexities of federal financial transactions. The OAGF has advised the public to continue using REMITA for federal government transactions during the transition period and directed them to visit www.fgntreasury.gov.ng for additional payment instructions.