Abuja - The Federal Government is hopeful the introduction of e-Collection will enhance transparency in the revenue collection process.
According to senior government officials, the platform will check revenue theft, diversion of collected revenue and remove corrupt practices in government ministries, department and agencies.
The Director, Consolidated Account Department, Office of the Accountant General of the Federation, Salawu Zubairu, gave the assurance during a workshop for the Federal Government Parastals, Departments and agencies on Federal Government e-Collection scheme in Abuja.
He said the e-collection project, which began in January, was aimed at moving all public sector revenue and collection accounts from the Deposit money Banks (DMBs) to the Central Bank of Nigeria (CBN) through the use of e-collection scheme.
He added the e-collection system would enable government had a holistic view of its receipts, funds and properly account of the Government.
Zubairu said 551 ministries, department and agencies were currently enrolled in e-collection and several others are working towards enrolling in the coming months.
He added that this will help to increase government cash flow through direct and real time remittance of all inflows into CBN.
Also speaking during the workshop in Abuja, the Director of Banking and Payments System Department of Central Bank of Nigeria (CBN), Dipo Fatokun, enumerated the benefits of centralized banking and e-collection.
He reiterated that e-collection was an electronic initiative for the collection of Federal Government revenue such as fees, taxes, duties tariffs.
Fatokun added that the only challenges of e-collection initiative were change management, network connectivity, epileptic power supply, lack of adequate infrastructure to support the e-payment service and low computer internet penetration.
- CAJ News