The Federal Government has initiated plans to migrate public service payments from Remita to a new system, the Treasury Management and Revenue Assurance System (TMRAS), in what is being perceived as an effort to enhance revenue mobilisation and curb financial leakages.
The move comes over a year after the National Assembly launched an investigation into Remita over allegations of non-remittance of generated revenues, among other concerns. While the findings of the probe have yet to be made public, there are growing speculations that the government may have found sufficient grounds to seek an alternative.
Since its introduction in 2012, Remita has played a significant role in streamlining revenue collection and financial tracking for ministries, departments, and agencies (MDAs). However, stakeholders have raised concerns over occasional operational glitches and inefficiencies.
Despite government assurances that TMRAS will not replace Remita but rather complement it to enhance revenue collection, the decision has sparked unease among stakeholders. Experts have voiced concerns over the lack of clarity on the reasons behind the transition, warning that inadequate planning could lead to implementation challenges.
While acknowledging the importance of digital payment platforms in financial management, analysts argue that addressing systemic issues such as transparency and accountability within revenue-generating agencies requires more than just a change in technology.
As the government moves forward with TMRAS, industry observers are calling for greater transparency and stakeholder engagement to ensure a smooth transition without disrupting public financial operations.
