E-collection will enthrone a new regime of accountability – FG.

                                                                    Report from the Office of the Accountant General of the Federation.

The Federal Government has assured all Nigerians that the introduction of e-collection will enthrone a new regime of centralized, accountable and transparency in government collection process, the platform will check revenue theft, diversion of collected revenue and remove corrupt practices in the MDAs.

Mr. Otunla was represented at the event by the Director, Consolidated Account Department, Office of the Accountant General of the Federation, Mr. Salawu Zubairu, during the sensitization workshop for the Federal government Parastals, Departments and agencies on Federal Government e-Collection scheme at Chelsea Hotel in Abuja.

The Accountant General of the Federation, Mr. Otunla said the  e-collection project which began on 1st January, this year was meant to move 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; adding that e-collection system will enable government to have a holistic view of its receipts, funds and properly account of the Government.

Mr. Otunla further informed the workshop participants that 551 MDAs are currently enrolled on GISMIS for the execution of their expenditure budgets; they are working towards enrolling more Federal Government agencies into the GIFMIS /TSA in the coming months, and this will help to increase government cash flow through direct and real time remittance of all inflows into CBN.

Also speaking during the sensitization workshop a representative from the Central Bank of Nigeria (CBN) who is also the Director, Banking and Payments System Department, Mr. Dipo Fatokun enumerated the benefits of centralized banking and e-collection which includes: eliminate or reducing Federal Government access to ways and means advances and reduce cost; minimizing cost of borrowing while idle funds exist unitized in multiple accounts; promoting efficient and effective cash management enable speedy settlement of transactions etc.

He further reiterated that e-collection is an electronic initiative for the collection of Federal Government revenue such as fees, taxes, duties tariffs etc.

Mr. Fatokun also mentioned that the only challenges of e-collection initiative are change management, network connectivity, epileptic power supply, lack of adequate infrastructures to support the e-payment service and low computer internet penetration.

The Deputy Director, Fiscal Accounts Diversion, Mr. Sylva Okoleaboh, of the OAGF, in his speech said that e-collection is a comprehensive reform programme which started 2004 to look for the improvement for bottom-line; adding that if there is any problem to the economy, people should consult with the Office of the Accountant-General (OAGF) and the Central Bank of Nigeria (CBN) for any issues that will arise on the e-collection economic reform programme.