FG dumps Remita, unveils new revenue collection platform on March 4

Updated Wednesday 5 March 2025 10:0

The Remita platform has been replaced with the Treasury Management and tax Assurance System (TMRAS), a new tax collecting platform introduced by the federal government.

The Federation's accountant-general, Dr. Mrs. Oluwa Oyin Madein, FCCA, FCA, FCNA, revealed this in a statement.

The Office of the Accountant-General of the Federation (OAGF) is leading the initiative, which is in line with President Bola Tinubu's and the Minister of Finance's directives to improve Treasury Management, Revenue Assurance, and Budget Performance for Federal Government-Owned Enterprises (FGOEs) and Ministries, Departments, and Agencies (MDAs).

The directive states that MDAs that now use the Remita platform to access money would switch to TMRAS by visiting the OAGF website at www.fgntreasury.gov.ng.

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The circular said that all MDAs, including those that now use the Remita platform to access monies at the CBN, would now use the Treasury Management and Revenue Assurance System through the OAGF website (www.fgntreasury.gov.ng) to access their funds.

Today, March 4, 2025, the OAGF said that the TMRAS would formally launch in a phased rollout.

Phased implementation

The transition to TMRAS will occur in two phases:

Phase One (March 4, 2025): This phase will deal with Naira payments and collections, allowing OAGF and MDAs to create bank statements and balances and enabling automatic tax deductions on vendor payments.
Phase Two (June 1, 2025): In this phase, the budget module for non-budgetary MDAs will be activated, foreign exchange (FX) transactions will be introduced, and MDA ERP systems will be integrated.

User access and integration

The OAGF promised to automatically transition all current Remita users while keeping their login information. A one-time password that needs to be changed upon first login will be sent to new users via email.

"Using the same username and corporate information that was previously set up on the Remita platform, all active and current users will be able to automatically log into the Treasury Management and Revenue Assurance System." An automated email notice with the username and one-time password will be issued as soon as a user is created. At the initial login, the system will require a one-time password change," it continued.

To provide smooth collections, payment processing, automated bank statement distribution, and budget control, all MDAs must also interface their financial or Enterprise Resource Planning (ERP) systems with TMRAS.

Vendor registration and tax compliance

In order to receive payments under the new system, all contractors must register with the Federal Inland Revenue Service (FIRS). Additionally, vendor payments will be processed concurrently with all tax-deductible payments, such as Value Added Tax (VAT), Withholding Tax (WHT), and Stamp Duty.

The instruction stressed that "the system shall not permit any payment without the associated tax components."

Budget control and expenditure limits

The platform's implementation of budget discipline is one of its primary features. With expenditure limited to authorized limitations, MDAs not receiving national budget funding are required to post their approved budgets on TMRAS.

"In any fiscal year, the mechanism will allow MDA to spend within her authorized budgetary constraints. Any request to spend more than these amounts must be authorized by the relevant authority and sent to the Federal Ministry of Finance for additional permission through the Office of the Accountant-General of the Federation (OAGF).

In order to guarantee a seamless transition, engagements should start as soon as the budget module is activated in June 2025.

Key Features of TMRAS

The new system has a number of elements designed to increase financial efficiency and transparency:

Integration with MDA financial systems: All enterprise resource planning (ERP) systems used by MDAs must integrate with TMRAS for automated bank statements, budget controls, and transaction reconciliation.
Budget upload and control: MDAs not funded by the national budget must upload their approved budgets on the platform and spend within approved limits.
Internally generated revenue (IGR) split: The system will automatically deduct 50% of IGR from federal government agencies and parastatals.
Processing of extra-budgetary payments: Payments from special accounts must be processed through TMRAS to ensure transparency and eliminate manual mandates.
Management of payment solution service providers (PSSPs): Only CBN-licensed PSSPs approved by OAGF will be allowed to collect revenue on behalf of MDAs.
Training and support services: Sensitization and training for MDAs will begin immediately to ensure a smooth transition.

Beginning on March 4, 2025, the present Remita platform will operate alongside TMRAS for two months in order to reduce any disturbance. All payments must be made via TMRAS exclusively after the transition period.

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