NEPZA, 20 other MDAs to join FG’s revenue optimisation platform

The Nigeria Export Processing Zones Authority (NEPZA) and 20 other Federal ministries and agencies (MDAs) have made a firm commitment to integrate and adopt the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) to improve overall transparency in Federal Government financial operations.

This is even as the Minister of Finance and the Coordinating Minister of the Economy of Nigeria, Taiwo Oyedele, announced that 31 agencies are already live on the platform.

RevOP is a digital, technology-driven system used to track, collect, reconcile, and protect financial revenues. These platforms are typically designed to identify revenue leakages, prevent fraud, automate billing, and ensure that every transaction is visible and traceable in real time.

This revelation came after a meeting between the Minister of Finance and the Chief Executive Officers of 21 affected agencies in Abuja on Tuesday.

The new RevOP was approved by the Federal Executive Council to eliminate day-to-day financial fraud and to advance the financial transparency initiative of President Bola Ahmed Tinubu’s administration.

The Minister, who was represented by the Permanent Secretary of the Ministry of Finance, Muhammed Sanusi, reminded the CEOs that the new revenue monitoring platform was created by the government to comprehensively record its revenue and expenses.

Oyedele added that a total of 31 MDAs had already gone live on the platform. According to him, “21 more agencies are to be captured next, as the government is working assiduously to achieve 100 per cent financial probity before the end of the year.

“We therefore wish to encourage each of you to, without delay, key into this lofty government initiative to boost financial due process on all fronts.

In a statement he personally signed, the Managing Director/CEO of NEPZA, Dr Olufemi Ogunyemi, stated that the agency was on track for full compliance, leveraging its well-structured digital financial system.

“We are encouraged and feel responsible to follow the Rev.OP. It is especially motivating to observe the president taking clear leadership and responsibility for this vital financial monitoring system, which will help push the administration’s Renewed Hope Agenda forward.”