FG MOVES TO IMPLEMENT REVENUE ASSURANCE AND DISBURSEMENT SOLUTIONS ..... Holds Stakeholder Engagement Meeting

"The deployment of a central revenue system is designed to enhance financial transparency and accountability concerning direct payments to beneficiaries and the direct deduction of what is due to the Federal Government."

The Federal Government has conveyed a stakeholder engagement meeting on the Implementation of Revenue Assurance and Central Disbursement Solutions for Federal Government Ministries. Departments and Agencies (MDAS) as well as FG-Owned Enterprises.

The meeting which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, is in continuation of its avowed determination to ensure enhanced financial transparency, accountability, and prudent revenue management, was held in Abuja, the nation's capital on Monday.

This was contained in a statement issued and signed by Mohammed Manga FCIA, Director Press and Public Relations Department of the Federal Ministry of Finance and made available to journalists.

According to the statement, "the deployment of a central revenue system is designed to enhance financial transparency and accountability concerning direct payments to beneficiaries and the direct deduction of what is due to the Federal Government.

"Once implemented, the Government Integrated Financial Management Information System (GIFMIS) and non-GIFMIS platforms will monitor revenue generation and provide a consolidated dashboard of the revenue situation for all Federal Government-owned enterprises." The statement read.

Key stakeholders, including the SA to the President on Energy, the SA to the President on ICT, the Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation (OAGF), and the Nigeria Inter-Bank Settlement System (NIBSS) participated in the meeting.