Government Wants Banks to Help Collect More Revenue Online

The Federal Government is stepping up efforts to boost revenue collection and cut down on losses. They are working with commercial banks to use the Revenue Optimisation Assurance Platform (RevOp). This digital system aims to make public finance management more transparent and accountable.

The initiative was discussed during a workshop held by the Office of the Accountant-General of the Federation (OAGF) in Abuja on Friday.

At the event, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, who was represented by the Permanent Secretary for Special Duties, Mohammed Danjuma, said the platform was created to modernise how the government handles revenue. It also aims to fix long-standing issues caused by manual processes.

He explained that RevOp offers a digital platform for government agencies to create bills, collect payments, monitor transactions, and report revenue in real time.

"RevOp serves as a critical tool in the government’s drive to improve revenue administration, reduce leakages, and enhance public sector accountability," he said.

Mr Oyedele mentioned that the government is dedicated to using technology to boost revenue generation and improve financial management in public institutions.

He pointed out that while the platform has made progress since its launch, there are still challenges, especially with some bank staff who process payments.

According to him, many banking staff do not fully understand the platform's processes. This lack of understanding has affected how customers experience transactions.

"These challenges, though operational in nature, have significant impacts on the overall customer experience and effectiveness of the initiative. This is precisely why we are here today," he added.

The minister highlighted that commercial banks are key to making this initiative work. Their job goes beyond just collecting payments; they also need to help make revenue administration more efficient.

He encouraged banks to ensure that what they learn from the workshop reaches branch managers, customer service officers, and tellers who deal directly with the public.

Adebayo Adewale, the Director of Revenue and Investment at the OAGF, said that over 70 per cent of federal government-owned entities have already joined the platform.

He explained that RevOp was created as a government solution to remove operational barriers and make revenue collection smoother across ministries, departments, and agencies.

According to him, the platform works with licensed payment service providers and commercial banks across the country.

"People will be presenting RevOp-generated bills to commercial banks for payment, and we expect prompt collection," he said.

Idris Dosunmu, the Product Manager of RevOp, said the platform combines billing, payment, and settlement processes into one system. This will ensure better transparency from bill generation to final payment.

"This will ensure that every penny due to the federal government goes into government coffers," he noted.

The Revenue Optimisation Assurance Platform is part of the Federal Government’s larger public finance reform programme. The goal is to improve accountability, increase non-oil revenue, and strengthen the oversight of public funds.

Approved by the Federal Executive Council, the platform allows for real-time monitoring and reconciliation of government revenues. It also connects with other digital financial management systems.

Earlier this month, government officials said that 31 ministries, departments, and agencies have already been added to the platform. There are plans to expand this across the public sector.

The authorities believe this initiative will help reduce fraud, improve revenue tracking, and build trust in government financial management systems as Nigeria works to increase domestic revenue mobilization.