The Federal Government has introduced a new digital system to track and verify all payments made into national accounts, marking a major milestone in public finance transparency.
The innovation, called the Federal Treasury Receipt (FTR), provides a unified, digitally verifiable proof of all payments to the government. It works alongside the Central Billing System (CBS) under the Revenue Optimisation and Assurance Platform (RevOp), which became operational on August 1, 2025.
According to the Ministry of Finance, the platform offers real-time visibility of funds across all Ministries, Departments, and Agencies (MDAs), ensuring full automation of revenue sharing while minimizing leakages and human interference.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the reform as “a new era of transparency and accountability,” emphasizing that every kobo due to the government will now be traceable and reconciled digitally.
The system is currently in a 30-day pilot phase across ten agencies and will later be rolled out nationwide. It also sets the groundwork for the National Revenue Service (NRS), expected to take off in January 2026 to unify and modernize revenue collection in Nigeria.