NEPZA, 20 agencies move to integrate new revenue assurance system

The Nigeria Export Processing Zones Authority (NEPZA) and 20 other federal agencies have committed to integrating and adopting the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) system as part of efforts to strengthen transparency, accountability and efficiency in the management of government finances.

The commitment was reached following a meeting held on Tuesday in Abuja between Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, and the chief executive officers of the 21 affected agencies.

According to a statement issued on Wednesday by Olufemi Ogunyemi, Managing Director and Chief Executive Officer of NEPZA, the agencies agreed to key into the Federal Government’s financial transparency initiative aimed at improving revenue monitoring and reducing financial leakages across Ministries, Departments and Agencies (MDAs).

The Revenue Optimisation and Assurance Platform was recently approved by the Federal Executive Council (FEC) as part of ongoing reforms to eliminate financial fraud, improve revenue collection and provide real-time visibility into government earnings and expenditures.

Speaking through Muhammed Sanusi, Permanent Secretary of the Ministry of Finance, the minister explained that the platform was designed to provide a comprehensive framework for tracking government revenues and expenses while promoting financial discipline across public institutions.

He noted that the initiative aligns with the administration’s broader objective of enhancing transparency and accountability in public financial management.

Oyedele disclosed that 31 MDAs have already been onboarded onto the platform, adding that the government is working to ensure all relevant agencies are captured before the end of the year.

“A total of 31 MDAs have already gone live on the platform. Twenty-one more agencies are to be captured next as the government works assiduously to achieve 100 per cent financial probity before the end of the year,” he said.

The minister urged the heads of the affected agencies to embrace the system without delay, stressing that the success of the initiative would depend on the cooperation and commitment of all stakeholders.

“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,” he added.

Reacting to the development, Ogunyemi said NEPZA was well-positioned for full compliance owing to its existing digital financial management structure.

According to him, the authority views the platform as a critical tool for enhancing accountability and supporting the Federal Government’s economic reform agenda.
“We are encouraged and feel responsible to follow the 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,” Ogunyemi stated.