The Federal Government has announced plans to integrate the Government Integrated Financial Management Information System (GIFMIS) with other key revenue and payment platforms as part of a sweeping reform to centralise federal revenue management.
The initiative follows the deployment of the Revenue Optimisation Platform (RevOp), which will function as a central hub connecting GIFMIS with the Treasury Single Account (TSA), the Central Bank of Nigeria (CBN), the Nigeria Inter-Bank Settlement System (NIBSS) and the Federal Inland Revenue Service (FIRS).
According to newly issued Treasury Circulars by the Federal Ministry of Finance, the integration is designed to enhance transparency, curb revenue leakages and modernise payment and collection processes across all Ministries, Departments and Agencies (MDAs).
Under the new arrangement, MDAs are mandated to collect and remit revenues exclusively through RevOp, while GIFMIS will capture transaction data in real time to ensure accurate accounting and reporting of government finances.
The circulars further ban physical cash transactions and unauthorised deductions, and stipulate that the Federal Treasury e-Receipt (FTeR) will be the sole recognised receipt for all federal payments, effective January 1, 2026.
The Ministry noted that the RevOp-enabled integration would eliminate fake receipts, minimise corruption risks and provide government authorities with real-time oversight of revenues across the federal system.
It added that linking GIFMIS with TSA, CBN, NIBSS and FIRS would strengthen fiscal discipline, improve account reconciliation and boost public confidence in the management of public funds.