The Federal Government will officially launch the Treasury Management & Revenue Assurance System (TMRAS) as a new platform for revenue collection across federal ministries, departments, and agencies (MDAs). The new system is set to replace REMITA, the existing payment gateway.
According to a memo from the Office of the Accountant General of the Federation (OAGF), dated February 28, 2025, TMRAS will go live on March 4, 2025, in a phased rollout. The first phase will focus solely on naira payments and collections, while the second phase, scheduled for June 1, 2025, will handle transactions involving foreign exchange and integrate with the Enterprise Resource Planning (ERP) systems used by MDAs.
The second phase will also introduce a budget module to regulate the financial activities of MDAs that are not included in the national budget. This is expected to strengthen budgetary control and improve financial oversight.
Additionally, the government will continue its policy of automatically deducting 50% of Internally Generated Revenue (IGR) from federal agencies and parastatals. The TMRAS system will handle this process in real-time, ensuring immediate remittance of the funds to both the Federal Government’s account and the respective MDA’s dedicated account. The system is also designed to generate detailed financial reports, providing transparency and accountability to both the OAGF and the affected MDAs.
The memo emphasized that all extra-budgetary payments, including those from Special Accounts, must now be processed exclusively through TMRAS. It further directed all MDAs to instruct their existing Payment Solution Service Providers (PSSPs) to connect to the Central Bank of Nigeria’s (CBN) official payment gateway. This move aims to centralize government revenue collections and improve financial coordination.
To facilitate this transition, the OAGF will begin profiling PSSPs immediately, with only approved service providers receiving certification and authorization to operate on TMRAS. The government expects this new system to enhance efficiency, eliminate revenue leakages, and strengthen fiscal discipline across its agencies.
With this transition, Nigeria aims to modernize its revenue management framework, ensuring stricter compliance with financial regulations while improving service delivery within the public sector.
