The Federal Government has launched a new revenue collection platform, the Treasury Management and Revenue Assurance System (TMRAS), to replace the Remita platform.
Accountant-general of the Federation, Oluwatoyin Madein, disclosed this in a statement.
According to her, the move, spearheaded by the Office of the Accountant-General of the Federation (OAGF), aligns with directives from President Bola Tinubu and the Minister of Finance to enhance Treasury Management, Revenue Assurance, and Budget Performance for Ministries, Departments, and Agencies (MDAs), as well as Federal Government-Owned Enterprises (FGOEs)..
She stated that following the launch, all MDAs currently accessing funds via the Remita platform will transition to TMRAS using the OAGF website, www.fgntreasury.gov.ng.
“All MDAs, including those that currently access funds at the CBN through the Remita platform, shall now access their funds via the Treasury Management and Revenue Assurance System using the OAGF website (www.fgntreasury.gov.ng),” the statement read.
The OAGF announced that the TMRAS would officially go live today, March 4, 2025, in a phased rollout
Madein explained that Phase One (March 4, 2025) will cover payments and collections in Naira, enabling automatic tax deductions on vendor payments and allowing OAGF and MDAs to generate bank statements and balances.
She further noted that Phase Two (June 1, 2025), will introduce foreign exchange (FX) transactions, integration with MDA ERP systems, and activation of the budget module for non-budgetary MDAs.
The OAGF assured that all existing users on Remita would be migrated automatically and retain their login credentials. New users will receive an email notification with a one-time password, which must be changed upon first login.
“All current and active users on the Remita platform will automatically be able to log into the Treasury Management and Revenue Assurance System using the same username and Corporate previously set up on the Remita system. Once any user is created, an automated email notification detailing the username and one-time password shall be sent. The system will mandate a change of the one-time password at first login,” Madein added.
The Accountant-general further stated that all MDAs are required to integrate their Enterprise Resource Planning (ERP) or financial systems with TMRAS to facilitate seamless collections, payment processing, automatic bank statement delivery, and budget control.
Under the new system, all contractors are expected to register with the Federal Inland Revenue Service (FIRS) to receive payments and all tax-deductible payments, including Value Added Tax (VAT), Withholding Tax (WHT), and Stamp Duty, will be processed simultaneously with vendor payments.
“The system shall not permit any payment without the associated tax components,” the directive emphasized.
“The system shall permit MDA to spend within her approved budget limits in any fiscal year. Any request to spend beyond these limits shall be approved by the appropriate authority and forwarded to the Federal Ministry of Finance via the Office of the Accountant-General of the Federation (OAGF) for further approval.”
The budget module will be activated in June 2025, with engagements to commence immediately to ensure a smooth transition.
