Federal Government has banned the use of physical cash for all revenue payments and ordered Ministries, Departments, and Agencies (MDAs) to install POS terminals within 45 days, according to new Treasury circulars issued by the Office of the Accountant-General of the Federation (OAGF).
The policy requires that all Federal Government payments be made electronically through approved channels integrated into the Treasury Single Account (TSA). MDAs must display “NO PHYSICAL CASH RECEIPT” notices, and accounting officers will be held responsible for violations.
the measures mark one of the most significant overhauls of Nigeria’s federal revenue administration since the TSA’s introduction, aimed at improving transparency, eliminating leakages, and fully digitising government collections and payments.
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