The federal government has introduced the Federal Treasury Receipt, a pioneering reform that provides a single, standardized, and digitally verifiable proof of all payments into federal accounts.
The initiative is designed to ensure that every government-issued receipt accurately reflects funds received, enhancing accountability, preventing revenue leakages, and boosting public confidence in the management of national resources.
The FTR is being rolled out alongside the Central Billing System, which standardizes the pricing and billing of government services.
Together, FTR and CBS form key pillars of the Revenue Optimisation and Assurance Platform, which officially went live on August 1, 2025.
On the significance of this fiscal milestone, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, described the launch of FTR, CBS, and RevOp as ushering in a new era of transparency and accountability in public finance.
Edun said, “By ensuring that every kobo due to the government is digitally tracked and fully reconciled, we are safeguarding national resources. More importantly, we are creating the fiscal room to invest in priority sectors such as education, health, and infrastructure—investments that will directly improve the lives of Nigerians and secure a prosperous future for our country.”
It was gathered that the FTR and CBS are currently in a 30-day pilot programme across 10 federal agencies, during which their performance, compliance, and stakeholder adoption are being closely evaluated.
The initiative forms part of the coordinating minister’s reform agenda aimed at curbing wastages, plugging leakages, preventing abuses, and promoting greater transparency and accountability in revenue collection and management.
A nationwide rollout strategy is set to follow, ensuring smooth integration across all revenue-generating agencies.
These reforms also pave the way for the operational launch of the National Revenue Service in January 2026, marking a historic institutional shift to consolidate and professionalize revenue administration under a single, unified structure.
