The Federal Government is set to introduce the Treasury Management & Revenue Assurance System (TMRAS), a new payment platform designed to take over revenue collection across federal ministries, departments, and agencies (MDAs), replacing REMITA.
A memo from the Office of the Accountant General of the Federation (OAGF), dated February 28, 2025, confirmed the launch, stating that TMRAS will go live on March 4, 2025, with deployment in two phases.
According to the memo, the first phase will focus on naira-based payments and collections, while the second phase, scheduled to start on June 1, 2025, will handle foreign exchange transactions and integration with MDA Enterprise Resource Planning (ERP) systems.
The second phase will also include the activation of a budget module for MDAs not covered under the national budget and non-budgetary financial activities, ensuring stricter budget control.
Additionally, the memo confirmed that the automatic deduction of 50% of Internally Generated Revenue (IGR) from Federal Government agencies and parastatals will continue. TMRAS will automatically split and remit IGR to the appropriate government accounts, while also generating detailed reports for transparency and accountability.
All extra-budgetary payments, including those from Special Accounts, will now be processed exclusively through TMRAS.
Furthermore, the government has directed all MDAs to ensure that their Payment Solution Service Providers (PSSPs) integrate with the Central Bank of Nigeria’s (CBN) official payment gateway for seamless revenue collection.
The profiling of PSSPs will commence immediately, and only Treasury-approved PSSPs will be certified and listed on TMRAS for revenue collection.
