General
FG Abandons REMITA, Embraces TMRAS for Better Revenue Collection
By Modupe Gbadeyanka
To ensure seamless revenue collection in the country, the federal government has ditched REMITA for a new payment platform known as the Treasury Management and Revenue Assurance System (TMRAS).
TMRAS was created to streamline and manage federal revenue collections and payments across ministries, departments, and agencies (MDAs), including those benefiting from donor funds, trust funds, social security funds, and special funds.
This new system aligns with the commitment of the government to achieve effective treasury management, revenue assurance, and improved budget performance of all MDAs, including Federal Government-Owned Enterprises.
A report by Punch disclosed that the new platform would be launched today, Tuesday, March 4, 2025.
It said a memo from the Office of the Accountant General of the Federation (AOGF), dated February 28, 2025, confirmed this development.
The notice revealed that the new platform would be launched in two phases, with the first to cover payments and collections for the Naira component only.
It will also enable the OAGF and MDAs to generate bank statements, track balances, and activate automatic deduction and remittance of taxes associated with vendor and contractor payments, including VAT, Withholding Tax, and Stamp Duty.
The second phase, expected to commence on June 1, 2025, will cover collections and payments involving foreign exchange and integration with MDA Enterprise Resource Planning (ERP) systems, with automatic deduction of 50 per cent of Internally Generated Revenue (IGR) from federal government agencies and parastatals to remain in effect.
“The system would go live on March 4, 2025, as it will be deployed in two phases.
“This phase shall also cover activation of the budget module for MDAs not in the national budget and other non-budgetary financial activities to enforce budget control.
“The split will be managed through the front-end of the TMRAS. The system is designed to automatically split IGR to ensure immediate remittance of the split to both the federal government’s account and the dedicated accounts of the respective MDA.
“Additionally, the system generates and provides detailed reports to both the OAGF and the MDA for transparency and accountability,” the memo stated.
It added that all extra-budgetary payments, including those from Special Accounts, will now be processed exclusively through TMRAS.
“This measure is aimed at completely eliminating the issuance of manual mandates to further enhance transparency, accountability, and efficient management of public funds,” the memo stated.
Additionally, only CBN-licensed Payment Solution Service Providers approved by the OAGF will be permitted to collect government revenue.
“MDAs are advised to direct all PSSPs currently collecting on their behalf to connect with the official CBN-payment gateway, for instant coordination of government collections on the platform. The process of profiling PSSPs shall commence immediately, and approved PSSPs by the Treasury shall be certificated and listed on the TMRAS for collections.”
To ensure a smooth transition, REMITA will continue running concurrently with TMRAS from March 4 to May 4, 2025.
“After this transition period, all MDAs would have stabilised on the new platform and will be expected to initiate their payments only on TMRAS,” it added.
General
Makinde Extends Curfew in 10 Local Governments by 24 Hours
By Adedapo Adesanya
The Governor of Oyo State, Mr Seyi Makinde, has approved the extension of the curfew imposed on 10 local government areas bordering the Old Oyo National Park by an additional 24 hours.
The development was announced in a statement issued by the Secretary to the State Government, Mr Musibau Babatunde, and signed by the Special Adviser to the Governor on Media, Mr Suleiman Olanrewaju.
The state government had, on June 23, 2026, imposed a dusk-to-dawn curfew from 4:00 pm to 8:00 am on the affected local government areas as part of measures to address the prevailing security situation.
With the extension, the curfew, which was initially scheduled to last 48 hours, will now remain in force until Saturday, June 27, 2026.
The affected local government areas are Oriire, Orelope, Irepo, Saki West, Saki East, Atisbo, Itesiwaju, Iseyin, Olorunsogo and Atiba.
The government urged residents of the affected areas to continue cooperating with security agencies and to comply fully with the directive as efforts continue to safeguard lives and property.
This development follows the abduction of 39 students and seven teachers in an attack targeting several schools in Nigeria’s southwestern Oyo State in May.
The attack took place in Ahoro Esinele community in Oriire district, targeting a secondary school and two primary schools, according to officials. With over 40 days in captivity, all rescue efforts have so far not yielded results.
Mass kidnappings by armed groups have become a serious security challenge in Nigeria in recent years, with criminal gangs exploiting weak security to target travellers, students, and rural communities for cash payments. Schools are often targeted, although such attacks used to be rare in the southwest of the country.
General
Dangote Cement Ibese Commissions Cassava Processing Plant in Ogun
By Aduragbemi Omiyale
In order to aid alternative and sustainable means of livelihood amid rising food prices and growing concerns over food security in Nigeria, the Ibese Plant of Dangote Cement Plc has handed over a state-of-the-art garri and fufu processing plant to the Kajola host community in Ewekoro Local Government Area of Ogun State.
The facility is expected to support cassava farmers and processors by improving efficiency and expanding income-generating opportunities.
According to the organisation, the project, delivered under the Community Development Agreement (CDA) with its host communities signed in 2022, is a strategic intervention aimed at boosting agricultural value addition, reducing post-harvest losses and strengthening livelihoods for rural farmers and women.
The Ibese Plant Director, Mr Ayyagari Subbaraidu, at the commissioning, said, “This project is aimed at improving cassava processing, reducing losses and creating sustainable employment for women and farmers in the community.”
He disclosed that the facility features separate garri and fufu processing units equipped with modern machinery, including a five-tonne-per-day peeling machine, hydraulic presses, frying systems, fermentation basins, solar-powered boreholes and sanitation infrastructure, adding that it will serve as a catalyst for local economic growth by enhancing productivity and supporting small-scale agribusinesses across Kajola and neighbouring communities.
The Plant Director also urged the community and the Project Governance Committee to maintain transparency in the management of the facility to ensure long-term sustainability.
The Ogun State Commissioner for Agriculture and Food Security, Mr Bolu Owotomo, who was at the unveiling of the project, said it aligns with Governor Dapo Abiodun’s vision of making agriculture a key driver of economic growth through value addition and enterprise development.
The Commissioner disclosed that “over 166,000 farmers, including more than 90,000 cassava farmers, have been registered under the Ogun State Farmers Information Management System (OGFIMS) to benefit from government interventions.”
He urged the community to safeguard the facility and assured residents of the continued support of the state government towards agricultural development and food security.
“This processing plant will strengthen the cassava value chain, improve product quality, create jobs and enhance food security while boosting farmers’ incomes,” the Commissioner stated.
General
FG Backs US Sanctions on Three BDC Operators Linked to Terror Financing
By Adedapo Adesanya
The federal government has hailed the recent sanctioning of three Nigerian bureau de change (BDC) operators by the United States’ Office of Foreign Assets Control (OFAC) for alleged terrorism financing.
“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC).
“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” it disclosed in a statement.
It said that the naming of the three companies and six people followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), Babangida Muhammed Adamu Hammajam (NLISWi.24), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.
The federal government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports, and the reporting of all relevant matches to the appropriate authorities.
The sanctions committee commended the work of the Federal Ministry of Justice, Office of the National Security Adviser (ONSA), Central Bank of Nigeria (CBN), Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.
It stated that Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.
The committee also said that the Federal Government would continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.
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