The Federal Government of Nigeria has introduced a new digital payment system, the Treasury Management and Revenue Assurance System (TMRAS), set to replace Remita as the official platform for Ministries, Departments, and Agencies (MDAs).
The move, driven by the Office of the Accountant-General of the Federation (OAGF), aligns with President Bola Tinubu’s vision to enhance financial transparency, revenue collection, and budget efficiency.
TMRAS will be rolled out in two key phases:
- Phase One (March 4, 2025)
- Handles naira transactions (payments and collections).
- Automates tax deductions on vendor payments.
- Enables MDAs to track balances and generate bank statements.
- Phase Two (June 1, 2025)
- Introduces foreign exchange transactions.
- Integrates with MDA Enterprise Resource Planning (ERP) systems.
- Implements a budget control module for agencies outside the national budget.
What This Means for MDAs and Vendors
- Automatic Transition: Existing Remita users will be moved to TMRAS seamlessly, using the same login credentials.
- Stricter Tax Compliance: All payments will have automated tax deductions, covering VAT, Withholding Tax (WHT), and Stamp Duty.
- Budget Control: MDAs must operate within approved limits, and extra-budgetary spending will require approval.
- Internally Generated Revenue (IGR): Agencies must remit 50% of their revenue to the federal government automatically.
Remita to Operate Alongside TMRAS Until May 4, 2025
To prevent disruptions, Remita will continue to function for two months, allowing MDAs time to adjust. During this transition, training and sensitization programs will be conducted to ensure a smooth shift to TMRAS.
With this upgrade, the Nigerian government aims to tighten financial control, boost revenue collection, and streamline public sector payments, reinforcing its commitment to digital transformation.
