Federal Government Partners with Banks on Digital Revenue Platform to Curb Financial Leakages

The Federal Government has intensified its drive to modernize public finance management by engaging the banking sector on the Revenue Optimisation Assurance Platform (RevOp), a centralized digital system designed to eliminate financial leakages and boost transparency.

Speaking at a sensitization workshop organized by the Office of the Accountant-General of the Federation (OAGF) in Abuja on Friday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated that the platform was introduced to replace fragmented, manual processes with real-time revenue tracking across all federal agencies. The minister was represented at the event by Mohammed Danjuma, the Permanent Secretary for Special Duties.

While the platform has shown strong potential since its rollout, the minister acknowledged that operational hurdles persist. Notably, many frontline banking personnel, including tellers and customer service representatives, still require a deeper understanding of how to process transactions through the system.

“These challenges, though operational in nature, have significant impacts on the overall customer experience and effectiveness of the initiative,” the minister noted, urging financial institutions to cascade the training down to their branch offices to ensure seamless collections.

The Accountant-General of the Federation, Oluwatoyin Madein, represented by her Chief of Staff, Felix Ogundairo, described RevOp as a strategic tool to improve revenue monitoring, reconciliation, and data-driven decision-making.

According to Adebayo Adewale, the Director of Revenue and Investment at the OAGF, more than 70 percent of federal government-owned entities have already been integrated into the system. The government previously disclosed that 31 Ministries, Departments, and Agencies (MDAs) are fully onboarded, with plans to expand the platform across all remaining public sectors to maximize non-oil revenue through technology.