The Federal Government of Nigeria has issued a directive banning the use of physical cash for revenue payments, effective immediately. According to a series of Treasury circulars released by the Office of the Accountant‑General of the Federation, all Ministries, Departments, and Agencies (MDAs) must install Point of Sale (POS) terminals within 45 days to facilitate electronic payments. The circulars, signed by Accountant‑General Shamseldeen Ogunjimi, state that all payments to the Federal Government must be made through electronic channels approved by the Treasury and routed through the Treasury Single Account (TSA). The directive prohibits the acceptance of physical cash for any revenues due to the Federal Government, citing the need to strengthen the integrity of the government’s e‑collection and e‑payment systems and to improve fiscal transparency while preventing revenue leakages.
A second circular directs MDAs to cease making unauthorized deductions from revenue collections. A third circular introduces a mandatory national e‑receipt system, the Federal Treasury e‑Receipt (FTe‑R), which must be used for all government payments from 1 January 2026. A fourth circular outlines the rollout and implementation guidelines for the Revenue Optimisation (RevOP) platform, a digital tool designed to improve visibility of revenue collections, streamline billing, and enable real‑time monitoring of accounts held by MDAs. The platform will integrate with existing financial systems, including the TSA, and provide unified automation of billing, reconciliation, and treasury visibility.
These new measures represent significant changes to federal revenue administration, aimed at enhancing transparency and efficiency. The Federal Government introduced the Treasury Single Account a decade ago and more recently unveiled the Treasury Management & Revenue Assurance System to streamline federal revenue collections and payments. The latest directives are expected to improve the government’s ability to track and manage revenue, reduce the risk of leakages, and promote fiscal accountability. With the e‑receipt system and the RevOP platform, the government seeks to increase transparency and efficiency in revenue collection, ultimately supporting its goals of fiscal transparency and stability.
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