FG Unveils Platform To Stop Revenue Theft, Diversion

Accountant General of the Federation, Mr Jonah Otunla

The Federal Government on Tuesday unveiled an Electronic Revenue Collection platform aimed at checking revenue theft, diversion of collected revenue and all sorts of corrupt practices associated with revenue collection.

It also directed all Ministries, Departments and Agencies of government to comply with the new initiative by closing their Revenue Accounts with Deposit Money Banks latest by February 28, The Punch reports.

The balances of the revenue account, it said, should be transferred to the Consolidated Revenue Fund of the Federal Government.

It warned that any MDA that fails to comply with these directives by the end of February would be appropriately sanctioned.

The Accountant General of the Federation, Mr Jonah Otunla, confirmed this in Abuja at a workshop to sensitize MDAs on the take-off of the electronic collection project

The implementation of the project, he stated, began on January 1 this year and is meant to enthrone a new regime of centralized, transparent and accountable Internal Generated Revenue management system.

The House of Representatives had in an investigative report on unremitted revenue last year said 60 revenue generating agencies of the Federal Government failed to remit over N9.4tn to the coffers of the government between 2009 and 2012.

The Chairman, House Committee on Finance, Abulmumin Jibrin, had said of the N3.06trn the agencies generated in 2009, only N46.8bn, representing 1.53 per cent was remitted to the government.

In 2010, the sum of N3.07trn was generated, but N54.1bn or 1.76 per cent was remitted; and in 2011, the generated figure stood at N3.17trn out of which N73.8bn or 2.33 per cent was remitted.

But Otunla said going forward, the new platform would improve availability of funds for financing of government developmental projects and budget as well as plug loopholes in government revenue and collection management.

He said the take-off of the e-collection platform is a product of series of treasury reforms which began in 2012 aimed at ensuring transparency and accountability in the management of the nation’s resources.

The reforms, he stated, led to the launch of the Government Integrated Financial Management Information System and the Treasury Single Account.

He said,”We have rolled out the GIFMIS and TSA implementation. At inception, a total of 93 agencies were enrolled and as of today, we have about 551 which is about three quarter of the total budget from the federation.

Shedding more light on the new revenue collection platform, the Director, Funds, Office of the Accountant General of the Federation, Mr Mohammed Dikwa, said henceforth, government revenues would now be paid into the CRF/TSA at the central bank through any branch of DMBs.

He said, “A Treasury Circular on e-collection will be issued next week. With the coming of e-collection, MDAs can no longer maintain Revenue Bank Account with commercial banks.

“You are therefore advised to transfer any outstanding balance in your RBA to the CRF and immediately commence processes for closing them.

“MDAs are given up to February 28,2015 to close RBA. Appropriate sanctions shall be applied against any MDA that fails to comply.”

To ensure a successful implementation of the project, Dikwa explained that a multi-stakeholder committee comprising of the OAGF, CBN, and representatives of all the commercial banks was set up to agree on the implementation plans and timelines.