FG unveils central revenue system to ease direct payments, tax collection

In its avowed determination to ensure enhanced financial transparency, accountability, and prudent revenue management, the Federal Government on Monday unveiled central revenue system targeted at direct payments to beneficiaries and the direct deduction of what is due to the Government.

This was unveiled at a stakeholder engagement meeting in Abuja chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun on the Implementation of Revenue Assurance and Central Disbursement Solutions for Federal Government Ministries, Departments and Agencies (MDAS) as well as FG-Owned Enterprises

Director, Information and Public Relations, Federal Ministry Of Finance, Mohammed Manga  noted that the deployment of a central revenue system is designed to enhance financial transparency and accountability concerning direct payments to beneficiaries and the direct deduction of what is due to the Federal Government.

He stated that, “once implemented, the Government Integrated Financial Management Information System (GIFMIS) and non-GIFMIS platforms will monitor revenue generation and provide a consolidated dashboard of the revenue situation for all Federal Government-owned enterprises.

“Key stakeholders, including the SA to the President on Energy, the SA to the President on ICT, the Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation (OAGF), and the Nigeria Inter-Bank Settlement System (NIBSS) participated in the meeting,” the statement added.