Federal Government Launches New Revenue Collection Platform, TMRAS, to Replace Remita

The Federal Government has introduced a new revenue collection platform, the Treasury Management and Revenue Assurance System (TMRAS), as a replacement for the existing Remita platform. The announcement was made by Dr. Mrs. Oluwa Oyin Madein, FCCA, FCA, FCNA, the Accountant-General of the Federation, in a statement released on March 4, 2025.

This initiative, led by the Office of the Accountant-General of the Federation (OAGF), is in line with directives from President Bola Tinubu and the Minister of Finance to strengthen treasury management, revenue assurance, and budget performance across Ministries, Departments, and Agencies (MDAs), as well as Federal Government-Owned Enterprises (FGOEs).

Transition to TMRAS

Effective immediately, all MDAs currently using the Remita platform will transition to TMRAS via the OAGF website: www.fgntreasury.gov.ng. According to the circular, “All MDAs, including those accessing funds at the Central Bank of Nigeria (CBN) through Remita, shall now access their funds via the Treasury Management and Revenue Assurance System.”

The rollout of TMRAS will occur in two phases:

1. Phase One (March 4, 2025):

This phase will focus on Naira transactions, enabling automatic tax deductions on vendor payments and allowing MDAs to generate bank statements and balances seamlessly.

2. Phase Two (June 1, 2025):

This phase will introduce foreign exchange (FX) transactions, integrate with MDA Enterprise Resource Planning (ERP) systems, and activate the budget module for non-budgetary MDAs.

User Access and Integration

The OAGF has assured a smooth transition for existing Remita users, who will retain their login credentials. New users will receive an email notification containing a one-time password, which must be changed upon initial login.

“All current and active Remita users will automatically be able to log into TMRAS using their existing usernames and corporate credentials. Upon user creation, an automated email with login details will be sent, and the system will require a password change at first login,” the statement clarified.

Additionally, all MDAs are required to integrate their ERP or financial systems with TMRAS to facilitate seamless payment processing, automatic bank statement delivery, and budget control.

Vendor Registration and Tax Compliance

Under the new system, all contractors must register with the Federal Inland Revenue Service (FIRS) to receive payments. The platform will automatically process tax-deductible payments, including Value Added Tax (VAT), Withholding Tax (WHT), and Stamp Duty, alongside vendor payments.

“The system will not permit any payment without the associated tax components,” the directive emphasized.

Budget Control and Expenditure Limits

A key feature of TMRAS is its enforcement of budget discipline. MDAs not funded by the national budget must upload their approved budgets onto the platform, with spending restricted to approved limits.

“The system will allow MDAs to spend within their approved budget limits for any fiscal year. Requests to exceed these limits must be approved by the appropriate authority and forwarded to the Federal Ministry of Finance via the OAGF for further approval,” the statement noted.

The budget module will be activated in June 2025, with immediate engagements to ensure a smooth transition.

Key Features of TMRAS

The new platform offers several advanced features designed to enhance financial transparency and efficiency:

- Integration with MDA Financial Systems:

All ERP systems used by MDAs must integrate with TMRAS for automated bank statements, budget controls, and transaction reconciliation.

- Budget Upload and Control:

Non-budgetary MDAs must upload their approved budgets and adhere to spending limits.

- Internally Generated Revenue (IGR) Split:

The system will automatically deduct 50% of IGR from federal agencies and parastatals.

- Processing of Extra-Budgetary Payments:

Payments from special accounts must be processed through TMRAS to ensure transparency and eliminate manual mandates.

- Management of Payment Solution Service Providers (PSSPs):

Only CBN-licensed PSSPs approved by the OAGF will be permitted to collect revenue on behalf of MDAs.

- Training and Support Services: Sensitization and training programs for MDAs will commence immediately to ensure a seamless transition.

Transition Period

To minimize disruption, the Remita platform will operate concurrently with TMRAS for two months, starting from March 4, 2025. After this period, all payments must be made exclusively through TMRAS.

This move marks a significant step by the Federal Government to modernize revenue collection, enhance transparency, and improve financial management across all levels of government.

Source News

Nairametric

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