The Federal Government has moved to reform revenue collection and prices of services by ministries, departments and agencies (MDAs).

It has launched the Federal Treasury Receipt (FTR) – a groundbreaking reform that provides a single, standardised, and digitally verifiable proof of all payments made into the Federal Government account.

The FTR ensures that every government-issued receipt directly corresponds to funds received into government accounts.

This strengthens accountability, closes revenue leakages, and improves public trust in the management of national resources.

The FTR is being deployed alongside the Central Billing System (CBS), which standardises the pricing and billing of government services.

Together, the FTR and CBS form integral components of the Revenue Optimisation and Assurance Platform (RevOp), which went live on August 1, 2025.

RevOp is a landmark innovation in Nigeria’s fiscal management, giving the government, for the first time, real-time visibility of all revenues from MDAs through to the Treasury.

It also automates the settlement and sharing of revenues between the Federal Government and relevant agencies, ensuring that every naira due to the Federation is captured, reconciled, and accounted for.

This combination of reforms — RevOp, the FTR, and CBS — represents a structural transformation in Nigeria’s revenue ecosystem.

Beyond plugging leakages, it creates the fiscal space for the government to channel more resources into education, healthcare, and infrastructure.

This is in line with the Administration’s overarching policy of delivering inclusive and sustainable growth.

Speaking on the significance of this milestone, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, stated: “The launch of the Federal Treasury Receipt, working together with the Central Billing System and the Revenue Optimisation and Assurance Platform, marks a new era of transparency and accountability in public finance.

“By ensuring that every kobo due to the government is digitally tracked and fully reconciled, we are safeguarding national resources.

“More importantly, we are creating the fiscal room to invest in priority sectors such as education, health, and infrastructure—investments that will directly improve the lives of Nigerians and secure a prosperous future for our country.”

A statement by the Ministry’s Director, Information and Public Relations, Mohammed Manga, said FTR and CBS are currently undergoing a 30-day pilot programme across ten federal agencies, during which performance, compliance, and stakeholder adoption are being rigorously tested.

A nationwide rollout strategy will follow, ensuring seamless integration across all revenue-generating institutions.

“These reforms also lay the groundwork for the operational take-off of the National Revenue Service (NRS) in January 2026 — a landmark institutional shift to consolidate and professionalise revenue administration under one unified structure.

“The Federal Government remains committed to building a transparent, technology-driven, and efficient revenue system that underpins sustainable development and strengthens the social contract with the Nigerian people,” the statement said. (The Nation)