FG seeks banks’ support to optimise revenue

The Federal Government has engaged the banking community on the Revenue Optimisation Assurance Platform, a digital revenue collection system aimed at improving revenue generation, blocking leakages and enhancing transparency in public finance management.

Speaking at a sensitisation workshop organised by the Office of the Accountant-General of the Federation in Abuja on Friday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the platform was designed to modernise Nigeria’s revenue collection process.

Represented by the Permanent Secretary, Special Duties, Mohammed Danjuma, Oyedele described RevOp as a centralised digital revenue collection and monitoring system that provides a real-time automated framework for federal agencies to raise, collect and report revenues.

According to him, the platform replaces fragmented manual processes that have hindered effective revenue collection for decades. He said, “RevOp serves as a critical tool in the government’s drive to improve revenue administration, reduce leakages, and enhance public sector accountability.”

The minister reiterated the government’s commitment to improving revenue generation, strengthening accountability, and leveraging technology to enhance efficiency across public financial management processes.

Oyedele noted that although significant progress had been made since the platform’s implementation, some challenges remained, particularly limited awareness among banking channels and frontline officers.

He explained that some banking personnel were still unfamiliar with the platform, its objectives and the procedures required to support transactions processed through it.

“These challenges, though operational in nature, have significant impacts on the overall customer experience and effectiveness of the initiative. This is precisely why we are here today,” he said.

Oyedele stressed that the success of the initiative depended on collaboration between the government and financial institutions, noting that banks play a critical role beyond payment collection.

According to him, banks are expected to ensure that government revenue collection processes remain efficient and user-friendly.

“Today’s sensitisation session has, therefore, been organised to deepen understanding of the platform, clarify operational processes, address concerns, and establish stronger communication channels between the project team and participating financial institutions.

“We expect that the knowledge shared here will cascade throughout your respective organisations, especially to branch operations, customer service personnel and tellers who interact directly with customers on a daily basis,” he added.

He assured stakeholders that the ministry would continue to work closely with relevant institutions to address operational challenges and improve the platform.

In her remarks, the Accountant-General of the Federation, Oluwatoyin Madein, said the revenue optimisation portal was adopted as a strategic tool to improve revenue collection, reconciliation, monitoring and reporting.

Represented by her Chief of Staff, Felix Ogundairo, Madein said the platform would provide greater visibility into government revenue, eliminate leakages, improve compliance and support informed decision-making through real-time data and analytics.

“This engagement, therefore, provides an opportunity for us to discuss implementation challenges, align expectations, clarify operational issues, and strengthen the partnership necessary for the success of the application,” she said.

Also speaking, the Director of Revenue and Investment at the OAGF, Adebayo Adewale, disclosed that more than 70 per cent of Federal Government-owned entities had already adopted the platform.

He said RevOp was a government-owned solution managed by the OAGF to streamline revenue collection and eliminate existing silos in the system. “Today’s sensitisation is aimed at bringing to your knowledge that RevOp generates the bill and collects Federal Government revenue using the existing licensed payment solution system providers and commercial banks nationwide.

“This is very critical because people shall be presenting RevOp bills to commercial banks for payment, and we expect prompt collection,” he said.

The RevOp Product Manager, Idris Dosunmu, said the platform integrates billing, payment and settlement processes under a single system. According to him, every transaction on the platform passes through secure channels, ensuring transparency from bill generation to remittance into government accounts.

“This will ensure that every penny due to the Federal Government goes into the coffers of the government,” Dosunmu said.

The Revenue Optimisation Assurance Platform is part of the Federal Government’s broader public finance reforms aimed at strengthening transparency, improving revenue collection and reducing leakages across Ministries, Departments and Agencies.

The platform, approved by the Federal Executive Council, enables real-time monitoring and reconciliation of government revenues and expenditures while integrating with other digital financial management systems to enhance accountability.

Earlier this month, the Federal Government disclosed that 31 MDAs had already been onboarded onto the platform, with plans to integrate additional agencies as part of efforts to achieve full financial transparency and probity in public sector operations. Government officials say the initiative is designed to curb fraud, improve oversight of public funds and support the administration’s drive to boost non-oil revenues through technology-driven solutions.