FG rolls out unified revenue platform in biggest overhaul since TSA

Treasury Single Account (TSA)

…begins mandatory e-receipts 2026

…consolidates TSA, GIFMIS, CBN, NIBSS under single revenue monitoring platform

The federal government has launched its most ambitious overhaul of public finance administration in more than a decade, including a unified revenue platform that will connect the Treasury Single Account (TSA), Government Integrated Financial Management Information System (GIFMIS), the Central Bank of Nigeria (CBN), Nigeria Inter-Bank Settlement System (NIBSS) and other key systems into a single digital monitoring hub.

The move, driven by four new circulars issued by the Office of the Accountant General of the Federation (OAGF) between November 24 and 27, marks a decisive shift towards cashless government transactions, automated audit trails and real-time visibility over federal revenue flows.

It also kicks off the countdown to January 1, 2026, when the government will begin enforcing mandatory digital receipts for all payments to federal ministries, departments and agencies.

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The reforms form part of a broader strategy championed by Wale Edun, minister of finance and coordinating minister of the economy, who has repeatedly called for a technology-led overhaul of Nigeria’s revenue collection architecture to close leakages, deter corruption and strengthen the country’s fiscal position.

Officials say billions of naira are lost annually through unauthorised deductions, opaque payment channels and manual processes that allow revenue to fall through the cracks.

“This is the most far-reaching upgrade to federal treasury operations since the TSA,” an OAGF official familiar with the circulars told BusinessDay on monday. “It moves Nigeria decisively into a cashless, transparent and data-driven era.”

At the heart of the reforms is the Revenue Optimisation Platform, or RevOp, now approved as the government’s end-to-end system for billing, reconciliation, monitoring and performance tracking. RevOp will act as a central nervous system for federal revenue, integrating existing infrastructure and providing dashboards that allow the Treasury to see, in real time, what each Ministry Department and Agency (MDA) collects, remits and reports. For citizens and businesses, it promises a more predictable and verifiable payment experience, replacing the multiple, often conflicting channels currently in use across government.

Another element of the reform is the enforcement of a strict “No Physical Cash Receipt” policy. Under the new rules, all federal revenue must be collected electronically, eliminating the cash handling practices that have historically enabled fraud, suppressed collections and weakened record keeping.

MDAs have also been ordered to halt the use of customised applications built on unapproved payment platforms—systems that were often difficult to monitor and contributed to discrepancies between collections and remittances.

In perhaps the most consequential change for revenue integrity, the government has outlawed all deductions at the point of collection, whether described as fees, commissions or service charges. Every naira collected must now hit the Treasury Single Account without exception.

The introduction of the Federal Treasury eReceipt, or FTeR, represents another major shift. Beginning January 1, 2026, the FTeR will become the only legally recognised proof of payment for federal government transactions. Generated centrally through RevOp and transmitted automatically via channels selected by each MDA, the digital receipt is designed to eliminate fake acknowledgments, unverifiable paper slips and the parallel receipt books that have fueled corruption in many agencies.

“The idea is simple: if you pay the federal government, you get a single, verifiable, fraud-proof receipt every time,” the OAGF official said. “It closes one of the oldest loopholes in public finance.” For the Treasury, the new e-receipt regime ensures that every payment is traceable from the moment it is made, creating an auditable trail that, when combined with the no-deduction rule, strengthens revenue assurance and simplifies reconciliation. For businesses, particularly those operating across multiple regulatory and licensing regimes, it offers a uniform point of reference that reduces disputes and delays.

The consolidation of TSA, GIFMIS, CBN, NIBSS, FIRS and other systems under RevOp is expected to reshape how policymakers understand and respond to fiscal pressures. For the first time, the government will have a single source of truth for revenue data, enabling more accurate forecasting and quicker interventions when collections fall short.

The system-based controls also limit discretionary decision-making by frontline officers, a long-standing driver of corruption in revenue-generating agencies.

Edun’s broader fiscal agenda has consistently emphasised the need to mobilise domestic revenue, curb wastage and modernise the machinery of public finance. The circulars reinforce these priorities by mandating digital processes that reduce loopholes and improve efficiency.

Read also: Tax implementation committee signals possible CGT review, vows ‘humane’ rollout

Automation, officials argue, strips away many of the risks associated with human-led revenue handling, while fostering greater public trust in transactions with government.

For citizens accustomed to inconsistent receipts, unpredictable charges and opaque payment procedures, the reforms promise a clearer, more accountable system. The government has framed the changes as essential to Nigeria’s economic governance as it seeks to stabilise finances, widen the non-oil revenue base and improve fiscal transparency.

The reforms also align with global norms in public financial management, where digitisation and integrated systems have become standard practice.

While implementation will require MDAs to upgrade systems, retrain staff and transition legacy processes, officials insist that the long-term gains outweigh short-term disruptions.

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