Nigerian Government Launches Federal Treasury Receipt to Enhance Revenue Transparency

The Nigerian Federal Government has introduced the Federal Treasury Receipt (FTR) alongside the Central Bill System (CB) to standardize digital payment verification and enhance accountability in revenue management. The initiative aims to ensure that every government-issued receipt corresponds to funds received in the government account, thereby curbing revenue leakages and improving public trust.

The FTR and CB are undergoing a 30-day pilot program across ten federal agencies to test compliance and efficiency before a nationwide rollout. This move is part of broader reforms to promote transparency, accountability, and efficient revenue collection in Nigeria.