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Fidelity Bank, SystemSpecs partner on govt’s revenue collections

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Fidelity Bank

Fidelity Bank Plc is championing an innovation in the collection of Internally Generated Revenue (IGR) in conjunction with SystemSpecs, an electronic financial transactions company.

The bank launched a more convenient collection and remittance of Federal Government Revenues through Unstructured Supplementary Service Data (USSD) channel (*770#), with the owners of Remita.

The solution, which is first of its kind in the industry is in response to some of the challenges faced by millions of customers when making their tax payments and remittance and the need for all tiers of government to provide convenient sources of revenue collection.

According to the Divisional Head, Retail Banking, Richard Madiebo, this was developed with the average tax payer in mind.

“This payment option is borne largely from our desire to always provide easy and convenient payment channels to the semi-formal and informal tax markets in Nigeria”, he said, adding that taxpayers can now make payment efficiently, thus leading to reduction of leakages in the system for both the state and federal governments.

He further explained that customers would simply dial 770# on the phone linked to theirs accounts and then use their unique Remita Retrieval Reference (RRR) generated from the Remita platform, to make payments using the USSD code *770*RRR# and conclude their transactions.

The Executive Director at SystemSpecs. Deremi Atanda, said: “Our operating model has always been to collaborate with forward-looking partners in the financial ecosystem, so that customers are able to consistently make smooth and convenient payments across diverse channels.


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