The Federal Government has introduced the Federal Treasury Receipt (FTR) system, a groundbreaking digital initiative designed to curb revenue leakages, strengthen transparency, and improve accountability across all Ministries, Departments, and Agencies (MDAs). The project, launched under the administration of President Bola Ahmed Tinubu and the leadership of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, marks a major step toward reforming Nigeria’s public financial management framework.

According to the Ministry of Finance, the FTR is a real-time digital receipt and tracking platform that ensures all government revenues are automatically captured, remitted, and reconciled within the national treasury. The system links income-generating agencies directly to the Treasury Single Account (TSA), eliminating manual processes and blocking loopholes that previously enabled funds to be diverted or remain unrecorded.

Minister Wale Edun explained that the initiative aligns with President Tinubu’s Renewed Hope economic agenda and reflects the government’s commitment to fiscal discipline, efficiency, and accountability. He noted that the FTR will not only enhance transparency but also boost the Federation’s revenue base, providing additional fiscal space for infrastructure and social investment. Financial experts have lauded the reform as a major stride toward building a more technology-driven, transparent, and sustainable public finance system in Nigeria.