Nigeria”s central government is set to unveil a new payment system following its decision to discontinue its partnership with local payment company Remita. The Treasury Management & Revenue Assurance System (TMRAS) will replace Remita, streamlining payment collections across various ministries, departments, and agencies (MDAs).
In addition, payments outside the regular budget, including those from Special Accounts, will now be processed exclusively through the new system. While TMRAS will go live today, Remita will continue operating alongside it until Saturday, May 4, 2025.
Remita, a financial services platform owned by SystemSpecs, has served as the gateway for the Treasury Single Account (TSA) of the Nigerian government since 2012.