The Nigerian government has announced the immediate suspension of physical cash payments for all revenue transactions, directing Ministries, Departments, and Agencies (MDAs) to deploy Point of Sale (POS) terminals and other approved electronic payment systems within 45 days. This move aims to enhance the transparency and efficiency of government revenue collection.
According to the Office of the Accountant-General of the Federation (OAGF), all payments to the federal government must now be made electronically and processed through channels approved by the Treasury, fully integrated into the Treasury Single Account (TSA). The Accountant-General, Shamseldeen Ogunjimi, emphasized that collections and acceptance of physical cash for all revenues due to the federal government are strictly prohibited.
The directive is contained in four treasury circulars issued by the OAGF, which expressed concern over the continued use of cash at MDA revenue points despite existing TSA and e-payment policies. The practice is seen as undermining the integrity of government financial systems. To address this, all MDAs and government-owned enterprises have been ordered to immediately sensitise staff and the public, displaying notices such as “NO PHYSICAL CASH RECEIPT” and “NO CASH PAYMENT” at their collection points.
Agencies currently receiving cash have been given 45 days to install functional POS machines and other approved electronic devices. Accounting officers will be held liable for any violation. Additionally, the government has announced the introduction of a unified electronic receipt, known as the Federal Treasury e-Receipt (FTe-R), for all payments, effective January 1, 2026. The FTe-R will serve as both the payer’s receipt and the official proof of revenue collection.
The government has also approved the Revenue Optimisation (RevOP) platform as the central platform for end-to-end revenue optimisation across all federal entities. The platform is expected to enhance visibility of revenue inflows, streamline billing processes, and provide real-time monitoring of accounts operated by MDAs. With this development, the Nigerian government aims to improve the efficiency and transparency of its revenue collection systems, reducing the risk of revenue leakages and promoting a more digital economy.