The Nigeria Export Processing Zones Authority, NEPZA, has joined 20 other Federal Government agencies to adopt the Revenue Optimisation and Assurance Platform and Federal Treasury e-Receipt system, as part of efforts to strengthen transparency and accountability in public financial management.
The disclosure came after a meeting on Tuesday in Abuja between the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and chief executives of 21 concerned government agencies, according to the Managing Director and Chief Executive Officer of NEPZA, Dr Olufemi Ogunyemi.
The RevOP platform, approved by the Federal Executive Council, is aimed to arrest financial leakages, stamp out revenue theft and promote transparency in line with the fiscal reform goal of President Bola Ahmed Tinubu’s government.
The minister, who spoke through Muhammed Sanusi, the Permanent Secretary, Ministry of Finance, said the platform was designed to fully monitor and record government’s earnings and expenditures.
Oyedele said 31 ministries, departments and agencies have already been linked into the platform while another 21 agencies are slated to join as the government steps up efforts to achieve full financial transparency by the end of the year.
He urged the relevant agencies to “take this initiative without delay,” adding: “This is an important step in strengthening due process and accountability in government institutions.”
Responding to the news, Ogunyemi said NEPZA was ready to comply with the instruction, adding that the authority’s digital financial architecture had already put it in a position to be seamlessly integrated into the platform.
He said the agency was driven by the Federal Government’s commitment to financial reforms and saw the project as a strategic tool to foster openness and assist the administration’s Renewed Hope Agenda.
We feel inspired and responsible to pursue the RevOP. “It’s particularly inspiring to see the President’s leadership, and ownership, of this important financial surveillance system that will help propel the administration’s Renewed Hope Agenda forward,” Ogunyemi added.
The platform is expected to promote revenue assurance, strengthen fiscal discipline and boost public confidence in the administration of government finances.
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