A sensible policy; The government should not outsource certain basic things: “The Federal Government of Nigeria unveiled a new payment platform on Tuesday, Treasury Management & Revenue Insurance System (TMRAS), to replace Remonta, which has been used for income collection since 2012.
“The new platform aims to improve the efficiency, transparency and responsibility of federal income collections and payments between ministries, departments and agencies (MDA), including entities managing donor funds, trust funds, social security funds and special funds. This development was disclosed in a memo of the office of the general accountant of the Federation (OAGF), dated February 28, 2025. The note said that the ATT will be online on March 4, 2025, and its deployment would occur in two phases. »»
Then imagine if you are an investor in Remita. Good people, there is a huge risk depending on a great government contract or the management of a business where you have a concentration on a few customers. Gloi Intelligence, a Startup based in Kenya / NY, failed despite the collection of more than $ 100 million when its Unilever contract was frozen. Remonta has no problem because his parent company is responsible for other income lines. But that should teach all the founders why you should diversify your sources of income.
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For Nigeria, it is a good policy. If the government cannot perceive its money, what is it for? I hate when governments outsource basic functions. A large policy provided that this is not from one supplier to another; Nigeria must strengthen the capacity of the internal public sector and reduce the use of consultants.
A few weeks ago, the Abuja people invited me to come and carry out a program. I politely sent them a list of my Futo teachers they could use. Why pay a villager from America when there are better people at least in Owerri? Build your internal system and stop looking outside. Happy payment is now inside!
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