The Federal Government has introduced the Federal Treasury Receipt (FTR) — a digitally verifiable receipt system designed to block leakages, entrench transparency and enforce accountability in all payments made into government coffers.

Unveiled by the Ministry of Finance, the FTR creates a single, standardised, and auditable proof of every remittance to the Treasury, ensuring that every receipt issued by MDAs corresponds directly to funds actually received.

The ministry said the initiative is a major plank in the ongoing digital reform of public finance, aimed at closing loopholes that have enabled inconsistencies in government collections and eroded trust in the payment system.

The FTR runs alongside the Central Billing System (CBS), which harmonises billing and pricing of government services nationwide. Both reforms are integrated into the Revenue Optimisation and Assurance Platform (RevOp) — an end-to-end infrastructure that went live on August 1, 2025.

With RevOp, the Treasury now has real-time visibility into collections by ministries, departments and agencies (MDAs), while reconciliation and settlement are automatically executed without human interference.

“The goal is to ensure every naira due to the Federation is captured, reconciled and accounted for,” the ministry stated, adding that the reform is expected to expand revenue capture and improve voluntary compliance.

Experts see the initiative as a potentially transformative fiscal tool that could reduce unrecorded inflows and strengthen public confidence in government financial management.

A 30-day pilot is underway across 10 selected MDAs to test compliance and infrastructure readiness ahead of a nationwide rollout.

The move also aligns with the planned take-off of the Nigeria Revenue Service (NRS) in January 2026, which will centralise revenue administration.

However, analysts have expressed concerns over the capacity of all MDAs to onboard seamlessly, and whether current ICT infrastructure can support real-time tracking at scale.

Despite the concerns, stakeholders describe the FTR as a bold step toward a more transparent and efficient fiscal regime that could redefine the nation’s revenue governance.