Nigerian Government Bans Cash Payments for Revenue Collection, Mandates Electronic Systems

The Federal Government of Nigeria has issued a directive to all ministries, departments, and agencies (MDAs) to cease collecting cash for public revenue transactions and transition to electronic payment systems within 45 days. The move aims to streamline revenue collection processes and prevent the undermining of the government's financial integration system.

The directive, contained in four Treasury circulars from the Office of the Accountant General of the Federation (OAGF), emphasizes the enforcement of a "no physical cash receipt policy" for all revenue transactions. Failure to comply may result in liabilities for violators.

This initiative seeks to promote transparency and accountability in revenue management across government entities in Nigeria.