Business
FG Unveils Central Revenue System To Enhance Financial Transparency, Accountability
Joel Ajayi
In its avowed determination to ensure enhanced financial transparency, accountability, and prudent revenue management, the Federal Government has conveyed a stakeholder engagement meeting in Abuja chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun 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 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.
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.
Business
FG Reiterates Commitment To Bussines-Friendly Environment
Joel Ajayi
In a move to boost Nigeria’s economic growth and development, the Federal Government has reaffirmed its commitment to creating a safe and conducive environment that will foster private sector investments aimed at unlocking new economic potentials as well as create job opportunities for the teeming youth in the country.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun gave the assurance today in his office in Abuja when he hosted Alhaji Aliko Dangote, President of the Dangote Group, for crucial discussions on enhancing private sector participation.
The Minister reaffirmed President Bola Ahmed Tinubu’s commitment to creating a business-friendly environment that fosters enterprise growth while emphasizing the government’s dedication to implementing supportive policies and reforms aimed at unlocking the private sector’s potential, driving innovation, and accelerating sustainable economic transformation.
Also present at the meeting were Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adelabu Adedeji, Chairman MRS Oil & Gas, Sayyu Dantata, and Maryam Ibrahim, Special Adviser to the Minister
With the government’s commitment to creating a business-friendly environment and the private sector’s eagerness to invest, Nigeria is poised for sustainable economic transformation and growth. Thus, the partnership between the government and the Dangote Group is a significant step towards unlocking the country’s economic potential.
Signed
Mohammed Manga, FCAI
Director, Information and Public Relations
March 18, 2025
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