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FGN Mandated Use of Electronic Means for Revenue Inflow into TSA

Proshare

Friday, September 29, 2017 / 10:44AM /CBN

As part of its effort to boost revenue collections, the federal Government of Nigeria mandated the use of electronic means for all its revenue inflows into treasury single Account (TSA).

In order to properly classify receipts and ease reconciliation, the Office of the Accountant General of the federation (OAGF) has now introduced a GIFMIS revenue reference number for all revenue collected on behalf of MDAs for federal Government through the Remita platform into the TSA.


However, we have noticed that the use of the GIFNIS revenue reference number is not being adhered to, thereby making it almost impossible for the OAGF to reconcile revenue collected to the TSA.


With effect from October 1 2017, all DMBs are to ensure mandatory use of the GIFMIS Revenue Reference numbers at the point of Revenue collection into the TSA. The GIFMIS Revenue Reference Number (RRN) shall be provided by the respective MDAs to the revenue payer to enable them remit the funds.


You may wish to note that, the OAGF has issued a treasury circular Ref.No,TRY/A2&B2/2017/OAGF/CAD/026/VOL.111/193 dated May 17th 2017 to all MDAs in that regard and also concluded sensitization. A copy of the circular is attached.


Please be guided accordingly and ensure strict compliance


Download PDF Attachment Here




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