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FEDERAL GOVERNMENT BANS CASH PAYMENTS FOR ALL SERVICES FROM 2026 IN DIGITAL REVENUE DRIVE

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  CapitalTimesNews / 2 months
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• 2 min read

The Federal Government will prohibit cash payments for all its services starting January 1, 2026, as part of a decisive shift to fully digital revenue collection. This reform introduces the Federal Treasury eReceipt (FTeR) and expands the Revenue Optimisation Platform, known as RevOp, across all government agencies. The RevOp system is designed to monitor, reconcile, and manage government revenues through a unified digital framework. The Office of the Accountant General of the Federation has issued multiple circulars to guide the transition, mandating that all federal payments be processed electronically. This step is a core component of a broader plan to modernise public finances, reduce revenue leakages, and limit corruption. From next year, the FTeR will serve as the only legally recognised receipt for payments to federal government agencies. The system will automatically issue digital receipts for every payment, replacing paper-based acknowledgments and preventing the circulation of fake receipts. The policy also prohibits any unauthorised deductions, commissions, or charges before payments reach the Treasury Single Account, ensuring the full amount paid is remitted directly to government coffers. This move will affect citizens, businesses, financial institutions, and digital service providers, who will now operate within a fully integrated digital ecosystem. Through RevOp, systems including the TSA, Central Bank of Nigeria, FIRS, and various agencies will interact seamlessly, enabling real-time tracking and accountability of government funds. Officials emphasize the transformative impact of the policy. “This digital transition will help save money previously lost to unapproved deductions and cash handling, while strengthening transparency and improving overall fiscal management,” a government official stated. The initiative aims to create a more efficient and accountable revenue collection system for the nation.