FG seeks banks’ support to strengthen revenue collection through digital platform

Nigeria's Federal Government is actively engaging commercial banks to bolster revenue collection and minimize leakages by implementing the Revenue Optimisation Assurance Platform (RevOp). This digital system is designed to foster greater transparency and accountability within public finance management. The initiative was a central theme at a recent sensitisation workshop in Abuja, organized by the Office of the Accountant-General of the Federation (OAGF). Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, highlighted that RevOp modernizes government revenue administration, addressing inefficiencies linked to traditional manual processes. The platform offers a centralized digital hub for government agencies to generate bills, process payments, track transactions, and report revenue in real time. Oyedele stressed RevOp's role as a crucial tool in improving revenue administration and public sector accountability, underscoring the government's commitment to technology-driven solutions. Despite progress, implementation hurdles remain, particularly concerning the inadequate understanding of RevOp's processes by some banking staff. This gap affects customer experience and transaction efficiency, prompting the need for enhanced training and awareness. The Minister emphasized that commercial banks are vital partners, not just for payment collection but for supporting efficient revenue administration. He urged financial institutions to ensure that knowledge from the workshop reaches all levels of staff, from branch managers to tellers, who directly interact with the public. Adebayo Adewale, Director of Revenue and Investment at the OAGF, reported that over 70 percent of federal government entities are already integrated into RevOp. He explained that the platform operates through existing licensed payment service providers and commercial banks nationwide, streamlining revenue collection across ministries, departments, and agencies by eliminating operational silos. Idris Dosunmu, Product Manager of RevOp, also spoke at the event.

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RevOp serves as a critical tool in the government’s drive to improve revenue administration, reduce leakages and enhance public sector accountability.