The Nigeria Export Processing Zones Authority (NEPZA) and 20 other Federal ministries and agencies (MDAs) have pledged to integrate and adopt the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) to enhance transparency in government financial operations.
Minister announces 31 agencies already live
Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, revealed that 31 agencies are already operational on the platform. RevOP is a digital, technology-driven system designed to track, collect, reconcile, and protect financial revenues. It aims to identify revenue leakages, prevent fraud, automate billing, and ensure real-time visibility and traceability of every transaction.
This development followed a meeting between the Minister and CEOs of 21 affected agencies in Abuja on Tuesday. The Revenue Optimization Platform, approved by the Federal Executive Council, is intended to eliminate day-to-day financial fraud and advance President Bola Ahmed Tinubu's financial transparency initiative.
The Minister, represented by Permanent Secretary Mr. Muhammed Sanusi, reminded CEOs that the platform was created to comprehensively record government revenue and expenses. He added that 21 more agencies are to be onboarded next, as the government works towards achieving 100 percent financial probity by year-end.
“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,” Oyedele stated.
NEPZA commits to full compliance
In a signed statement, NEPZA Managing Director/CEO Dr. Olufemi Ogunyemi affirmed that NEPZA is on track for full compliance, leveraging its well-structured digital financial system. “We are encouraged and feel responsible to follow RevOP. 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,” he said.
