FG LAUNCHES REVOP, NEW REVENUE SYSTEM TO ELIMINATE LEAKAGES, BOOST TRANSPARENCY
…‘a practical step t o strengthen accountability, supports sustainable grow th’ - Minister of Finance The Federal government has launched a new technology-driven revenue system, the Revenue Optimisation and Assurance Project - REVOP, an initiative designed to redefine how the nation tracks, collects, and manages its public finances. It was launched alongside the Federal Treasury Receipt (FTR), a ground-breaking reform that provides a single, standardised, and digitally verifiable proof of all payments made into the Federal Government account. At the formal presentation of the initiative during the 31st National Economic Summit in Abuja recently, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, reaffirmed the government’s commitment to strengthen fiscal responsibility through innovation and technology. The initiative, championed by the Federal Ministry of Finance in collaboration with the Office of the Accountant-General of the Fe...