Abuja, Nigeria – The Nigerian government has announced the introduction of a new payment platform, the Treasury Management & Revenue Assurance System (TMRAS), which will replace REMITA as the official revenue collection facility starting Tuesday, March 4, 2025. The Office of the Accountant General of the Federation (OAGF) disclosed this development in a memo dated February 28, 2025.
Bawa Mokwa, the spokesperson for the OAGF, confirmed the authenticity of the memo to DAILY POST on Tuesday, stating, “It is a memo from the OAGF. However, there are some clarifications to be made.”
The TMRAS platform is designed to streamline and manage federal revenue collections and payments across ministries, departments, and agencies (MDAs). It will also cater to entities benefiting from donor funds, trust funds, social security funds, and special funds. According to the memo, the system will be deployed in two phases.
The first phase, which begins on March 4, 2025, will focus on payments and collections involving the naira component only. This phase will enable the OAGF and MDAs to generate bank statements, track balances, and activate automatic deductions and remittances of taxes associated with vendor and contractor payments, including Value Added Tax (VAT), withholding tax, and stamp duty.
The second phase, scheduled to commence on June 1, 2025, will expand the system’s capabilities to cover collections and payments involving foreign exchange. It will also integrate with MDA Enterprise Resource systems and activate the budget module for MDAs not included in the national budget. This phase will enforce budget control and manage other non-budgetary financial activities.
The memo emphasized that the automatic deduction of 50 percent of Internally Generated Revenue (IGR) from federal agencies and parastatals will remain in effect. The TMRAS system will manage the revenue split through its front end, ensuring immediate remittance of the allocated portions to both the Federal Government’s account and the dedicated accounts of the respective MDAs. The system will also generate detailed reports for the OAGF and MDAs to enhance transparency and accountability.
To ensure a smooth transition, REMITA will continue to operate concurrently with TMRAS from March 4 to May 4, 2025. After this transition period, all MDAs are expected to fully migrate to the new platform and initiate payments exclusively through TMRAS.
The introduction of TMRAS marks a significant step in the Nigerian government’s efforts to modernize its revenue collection processes, improve efficiency, and enhance financial transparency across federal agencies.