The Federal Government has launched the Federal Treasury Receipt (FTR), aimed at curbing revenue leakages and improving fiscal transparency.
According to the ministry of finance, the new system is expected to provide a single, standardised, and digitally verifiable proof of all payments made into federal accounts, ensuring that every government-issued receipt matches actual funds received by the Treasury.
It said the FTR marks a significant step toward tightening public financial controls and eliminating long-standing loopholes that have undermined accountability in revenue collection.
The FTR rollout coincides with the Central Billing System (CBS), which standardises the pricing and billing of government services.
Both systems feed into a broader architecture called the Revenue Optimisation and Assurance Platform (RevOp), an end-to-end digital ecosystem that went live on August 1, 2025.
The minister explained that RevOp provides real-time visibility into revenue inflows from ministries, departments, and agencies (MDAs), enabling automated reconciliation and settlement between the Treasury and revenue-generating bodies.
“The goal is to ensure every naira due to the Federation is captured, reconciled, and accounted for,” it said.
The new system has the potential to reshape Nigeria’s fiscal trajectory in several important ways as digital receipts would broaden revenue capture by minimising unrecorded inflows and strengthening audit trails, while transparent verification of payments could boost public trust and encourage voluntary tax compliance.
The Ministry of Finance stated it has commenced a 30-day pilot across ten federal agencies, focusing on compliance testing, infrastructure readiness, and stakeholder adoption.
A nationwide deployment will follow upon successful evaluation, it added.
