Federal Government has intensified efforts to improve revenue collection and reduce leakages by engaging the banking community on the Revenue Optimization Assurance Platform (RevOp), a digital system designed to enhance transparency and efficiency in public finance management.
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, disclosed this on Friday 19 June in Abuja during a sensitization workshop on RevOp organised by the Office of the Accountant General of the Federation.
Represented by the Permanent Secretary, Special Duties, Mr Mohammed Danjuma, Oyedele described RevOp as a centralized digital revenue collection and monitoring platform that provides a real-time, automated framework for federal agencies to generate, collect and report revenue.
According to him, the platform replaces fragmented manual processes and is a key component of the Federal Government’s drive to strengthen transparency, accountability and efficiency in revenue administration.
He said that although progress had been recorded since the platform’s introduction, limited awareness among some banking channels and frontline officers had continued to pose operational challenges.
“Some banking channels were unfamiliar with RevOp, its purpose, or procedural requirements to support transactions. These operational issues impact customer experience and the effectiveness of the initiative. That is why we are here today,” Oyedele said.
The minister noted that banks play a critical role beyond revenue collection, stressing that financial institutions are expected to support efficient and user-friendly processes for government revenue transactions.
He explained that the workshop was convened to clarify operational procedures, address concerns raised by stakeholders and strengthen communication between the RevOp project team and commercial banks.
Speaking at the event, the Accountant General of the Federation, Dr Oluwatoyin Madein, represented by her Chief of Staff, Mr Felix Ogundairo, said RevOp had been adopted as a strategic platform for revenue collection, reconciliation, monitoring and reporting across government agencies.
She said the platform enhances visibility into government revenues, helps eliminate leakages and provides real-time data to support decision-making.
Also speaking, the Director of Revenue and Investment at the Office of the Accountant General of the Federation, Mr Adebayo Adewale, disclosed that more than 70 per cent of federally owned entities had already adopted the platform.
He explained that RevOp generates bills and facilitates federal revenue collection through licensed payment solution providers and commercial banks across the country.
RevOp Product Manager, Mr Idris Dosunmu, said the platform integrates billing, payment and settlement processes into a single system, ensuring transparency throughout the revenue collection chain.
“Every transaction passes through secure connections, ensuring complete transparency from bill creation to treasury receipt. This will ensure that every penny due to the federal government goes into government coffers,” Dosunmu said.
The workshop brought together representatives of commercial banks and other stakeholders to deepen understanding of the platform and support its wider adoption across the financial sector.
