The Federal Government has launched a new revenue collection platform, the Treasury Management and Revenue Assurance System (TMRAS), to replace the Remita platform.
This was disclosed in a statement by Dr. Mrs. Oluwa Oyin Madein, FCCA, FCA, FCNA, Accountant-General of the Federation.
The move, spearheaded by the Office of the Accountant-General of the Federation (OAGF), aligns with directives from President Bola Tinubu and the Minister of Finance to enhance Treasury Management, Revenue Assurance, and Budget Performance for Ministries, Departments, and Agencies (MDAs), as well as Federal Government-Owned Enterprises (FGOEs)..
According to the directive, MDAs currently accessing funds via the Remita platform will now transition to TMRAS using the OAGF website, www.fgntreasury.gov.ng.
“All MDAs, including those that currently access funds at the CBN through the Remita platform, shall now access their funds via the Treasury Management and Revenue Assurance System using the OAGF website (www.fgntreasury.gov.ng),” the circular stated.
The OAGF announced that the TMRAS would officially go live today, March 4, 2025, in a phased rollout
Phased implementation
The transition to TMRAS will occur in two phases:
- Phase One (March 4, 2025): This phase will cover payments and collections in Naira, enabling automatic tax deductions on vendor payments and allowing OAGF and MDAs to generate bank statements and balances.
- Phase Two (June 1, 2025): This phase will introduce foreign exchange (FX) transactions, integration with MDA ERP systems, and activation of the budget module for non-budgetary MDAs.
User access and integration
The OAGF assured that all existing users on Remita would be migrated automatically and retain their login credentials. New users will receive an email notification with a one-time password, which must be changed upon first login.
“All current and active users on the Remita platform will automatically be able to log into the Treasury Management and Revenue Assurance System using the same username and Corporate previously set up on the Remita system. Once any user is created, an automated email notification detailing the username and one-time password shall be sent. The system will mandate a change of the one-time password at first login,” it added.
Furthermore, all MDAs are required to integrate their Enterprise Resource Planning (ERP) or financial systems with TMRAS to facilitate seamless collections, payment processing, automatic bank statement delivery, and budget control.
Vendor registration and tax compliance
The new system mandates that all contractors register with the Federal Inland Revenue Service (FIRS) to receive payments. Additionally, all tax-deductible payments, including Value Added Tax (VAT), Withholding Tax (WHT), and Stamp Duty, will be processed simultaneously with vendor payments.
“The system shall not permit any payment without the associated tax components,” the directive emphasized.
Budget control and expenditure limits
A key feature of the platform is its enforcement of budget discipline. MDAs not funded by the national budget must upload their approved budgets on TMRAS, with spending restricted to approved limits.
“The system shall permit MDA to spend within her approved budget limits in any fiscal year. Any request to spend beyond these limits shall be approved by the appropriate authority and forwarded to the Federal Ministry of Finance via the Office of the Accountant-General of the Federation (OAGF) for further approval.”
The budget module will be activated in June 2025, with engagements to commence immediately to ensure a smooth transition.
Key Features of TMRAS
The new system offers several features aimed at improving financial transparency and efficiency:
- 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.
To minimize disruption, the existing Remita platform will run concurrently with TMRAS for two months, starting from March 4, 2025. After the transition period, all payments must be made exclusively through TMRAS.