FG Taps Banks to Bolster Digital Revenue Optimisation Platform, Enhancing Public Finance Accountability
The Federal Government has initiated engagement with the banking sector to foster a deeper understanding of the Revenue Optimisation Assurance Platform (RevOp). This digital initiative is designed to significantly improve revenue generation, curtail financial leakages, and elevate public sector accountability across Nigeria.
Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, highlighted these efforts during a RevOp sensitisation workshop in Abuja, organised by the Office of the Accountant General of the Federation (OAGF). Represented by Mohammed Danjuma, the Permanent Secretary, Special Duties, Oyedele underscored RevOp’s role as a centralised, digital revenue collection and monitoring system aimed at modernising public finance operations. The platform establishes a real-time, automated framework for all federal agencies to raise, collect, and report revenues, thereby replacing decades of fragmented manual processes.
The Minister reiterated the government’s commitment to enhancing revenue generation, promoting transparency, strengthening accountability, and leveraging technology for efficiency in public financial management. “RevOp serves as a critical tool in the government’s drive to improve revenue administration, reduce leakages, and enhance public sector accountability,” he stated. While acknowledging significant achievements since the platform’s inception, Oyedele identified limited awareness among some banking channels and frontline officers as a key challenge. This unfamiliarity with RevOp’s purpose and procedural requirements impacts customer experience and the initiative’s overall effectiveness, necessitating the current sensitisation efforts.
Oyedele emphasised that the success of RevOp hinges on robust collaboration among all stakeholders, particularly banking institutions, which are vital collection and service channels. Their role extends beyond mere transaction processing to ensuring efficient and user-friendly government revenue collection. The workshop was therefore organised to deepen understanding, clarify operational processes, address concerns, and strengthen communication between the project team and financial institutions, with the expectation that this knowledge will cascade to all levels of banking operations.
Dr. Shamseldeen Ogunjimi, the Accountant General of the Federation, speaking through his Chief of Staff, Felix Ogundairo, described the revenue optimisation portal as a strategic platform for improving revenue collection, reconciliation, monitoring, and reporting. RevOp is designed to provide enhanced visibility into government revenue, eliminate leakages, improve compliance, and support informed decision-making through real-time data and analytics. This engagement, he noted, offers a crucial opportunity to discuss implementation challenges, align expectations, clarify operational issues, and solidify the partnership essential for the platform’s success.
Adebayo Adewale, Director of Revenue and Investment at the OAGF, reported that over 70 per cent of federally owned entities have now adopted RevOp. He explained that RevOp, a federal government-owned platform managed by the OAGF, streamlines the current siloed revenue collection arrangements. The sensitisation aims to inform banks that RevOp generates bills and collects federal government revenue using existing licensed payment solution service providers and commercial banks nationwide, underscoring the expectation of prompt collection when customers present RevOp bills.
Idris Dosunmu, RevOp Product Manager, detailed how the platform unifies billing, payment, and settlement, ensuring that every transaction passes through secure connections for complete transparency from bill creation to treasury receipt. This comprehensive oversight is critical to ensuring that all revenue due to the federal government is accurately accounted for and remitted.
