The Federal Government has unveiled the Federal Treasury Receipt (FTR) — a landmark fiscal reform designed to provide a single, standardised, and digitally verifiable proof of all payments into the nation's treasury.
The initiative, which will function alongside the Central Billing System (CBS), seeks to strengthen accountability, eliminate revenue leakages, and enhance public confidence in government financial management.
The two systems are core components of the Revenue Optimisation and Assurance Platform (RevOp), which went live on August 1, 2025, marking a new era of transparency and digital integration in public finance.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, described the launch of the FTR and CBS as a major step toward ensuring that every government-issued receipt corresponds directly to verified payments in official accounts.
Currently, both systems are undergoing a 30-day pilot phase across ten federal agencies, during which performance, compliance, and stakeholder adoption are being evaluated ahead of a nationwide rollout.
The reforms form part of the federal government's broader effort to eliminate inefficiencies and promote greater fiscal discipline across revenue-generating institutions. They also set the stage for the National Revenue Service (NRS), which is expected to commence operations in January 2026, consolidating and professionalising revenue administration under a unified structure.
According to the Ministry of Finance, the RevOp platform provides, for the first time, real-time visibility of all revenues collected by Ministries, Departments, and Agencies (MDAs), from the point of collection through to the treasury. It also automates the settlement and sharing of revenues, ensuring that every naira due to the federation is captured, reconciled, and accounted for.
Director of Information and Public Relations at the ministry, Mohammed Manga, reiterated the government's commitment to building a technology-driven, transparent, and efficient revenue system that supports sustainable national development.
Fiscal experts have also praised the initiative, noting that the combined deployment of RevOp, FTR, and CBS represents a structural transformation in Nigeria's revenue ecosystem.
One analyst said, "In the past, much of the challenge came from poor visibility and collusion. Now, with RevOp and the Treasury Receipt, every transaction is logged, and every payment has a digital trail. This significantly limits opportunities for diversion."
The reforms, analysts agree, could unlock greater fiscal space for the government to expand social investments, stimulate private sector growth, and foster inclusive economic development across all sectors, including small and medium enterprises (SMEs).
