Federal government partners banks to digitise revenue collection
The Federal Government is working with banks to improve transparency in revenue collection through the Revenue Optimisation Assurance Platform (RevOp). The initiative aims to modernise and centralise how government agencies generate, collect, and monitor revenues. Taiwo Oyedele, represented by Mohammed Danjuma, highlighted the need for banks to fully understand and support the new system. The platform is part of a broader effort to reduce leakages and enhance accountability in public finance.
What we know
- The Revenue Optimisation Assurance Platform (RevOp) is designed to centralise and digitise revenue collection for federal agencies.
- Oluwatoyin Madein said the platform will improve compliance, eliminate leakages, and support data-driven decisions.
- Over 70% of federal government-owned entities have been integrated into RevOp, according to Adebayo Adewale.
- The government is addressing operational challenges, especially among banks and frontline personnel, to ensure smooth implementation.
- The platform enables real-time monitoring, reconciliation, and reporting of government revenues, aiming to curb fraud and strengthen oversight.
