The Federal Authorities has launched the Federal Treasury Receipt (FTR), a serious digital reform geared toward curbing income leakages and enhancing fiscal transparency.
The brand new system is predicted to supply a single, standardised, and digitally verifiable proof of all funds made into federal accounts, making certain that each government-issued receipt matches precise funds obtained by the Treasury.
Based on the Ministry of Finance, the FTR marks a major step towards tightening public monetary controls and eliminating long-standing loopholes which have undermined accountability in income assortment.
What they’re saying
The FTR rollout coincides with the Central Billing System (CBS), which standardises the pricing and billing of presidency providers.
Each methods feed right into a broader structure known as the Income Optimisation and Assurance Platform (RevOp), an end-to-end digital ecosystem that went dwell on August 1, 2025.
Based on the Finance Ministry, RevOp gives real-time visibility into income inflows from ministries, departments, and companies (MDAs), enabling automated reconciliation and settlement between the Treasury and revenue-generating our bodies.
In its phrases, the purpose is “to make sure each naira as a result of Federation is captured, reconciled, and accounted for.”
Potential Impression
If the system performs as supposed, it might reshape Nigeria’s fiscal trajectory in a number of necessary methods.
- Digital receipts would broaden income seize by minimising unrecorded inflows and strengthening audit trails, whereas clear verification of funds might enhance public belief and encourage voluntary tax compliance.
- Nigeria notoriously has a really low common tax to GDP ratio of lower than 10% highlighting the necessity to use expertise to drive income accountability and plug leakages.
- The Worldwide Financial Fund (IMF), in its 2025 Article IV session, once more emphasised the necessity for Nigeria to broaden its tax base, enhance assortment effectivity, and strengthen digital oversight.
- It seems the brand new FTR–CBS–RevOp ecosystem straight targets these weaknesses.
Over time, diminished leakages might create extra fiscal area for investments in infrastructure, training, and healthcare, whereas stronger non-oil income collections would assist scale back the financial system’s dependence on oil.
Studying from Previous Reforms
The Treasury Single Account (TSA), launched in 2015, was an early step towards consolidating federal revenues into one account.
- Whereas it improved the visibility of presidency balances, it didn’t deal with the total income chain, particularly receipt verification and repair pricing.
- Subsequent tax administration reforms and non-oil income drives improved assortment modestly, however weak compliance, guide leakages, and poor digital integration persevered.
In August 2025, the federal government additionally tasked the Income Mobilisation, Allocation and Fiscal Fee (RMAFC) with revising the revenue-sharing method, signalling broader fiscal reforms geared toward each assortment and equitable distribution.
Pilot Part and Crucial Exams Forward
The Ministry of Finance acknowledged it has commenced a 30-day pilot throughout ten federal companies, specializing in compliance testing, infrastructure readiness, and stakeholder adoption.
- A nationwide deployment will comply with upon profitable analysis.
- This coincides with preparations for the Nigeria Income Service (NRS), scheduled to take off in January 2026, which is able to unify income administration underneath one central authority.
- Nevertheless, questions persist over whether or not MDAs will absolutely undertake the FTR and combine all receipts digitally, and if the prevailing ICT infrastructure can help real-time nationwide monitoring.
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