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Remita Presentation to E-PPAN E-PAYMENT FOR GOVERNMENT SUMMIT 2012.

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Presentation on theme: "Remita Presentation to E-PPAN E-PAYMENT FOR GOVERNMENT SUMMIT 2012."— Presentation transcript:

1 Remita Presentation to E-PPAN E-PAYMENT FOR GOVERNMENT SUMMIT 2012

2 “FGN e-Payment Adoption: The story so far” Demola Igbalajobi Group Head, Remita Services SystemSpecs Nigeria Limited

3 3 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  The Prelude  Treasury Single Account (TSA)  The CBN e-Payment Platform  The FGN e-Payment Project  Current Status  Challenges and Key Success Factors  Brief Introduction to the Remita Platform  Summary Presentation Outline

4 4 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  FGN through the Office of the Accountant General (OAGF) had committed to implementing a Treasury Single Account as part of the Economic Reform Programme  This included the implementation of an Enterprise Financial Management System (GIFMIS) to be integrated with a robust e-Payment system  CBN as part of its National Payment System (NPS) Vision 2020 objectives was committed to promoting e-Payment adoption across the economy.  An important opportunity for a synergy between two major institutions The Prelude

5 5 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Easy Tracking of payments to Beneficiaries’ Accounts hence it will assist Audit Trail  It reduces cases of corruption  It will assist corruption fighting agencies like EFCC and ICPC  It is the beginning of a cashless society  Overall increase in the efficiency of operation  Reduced transaction costs. Increased convenience of payments  Economic Growth and Development as Transparency and Accountability improve  Source: Presentation by H.E. Alhaji Ibrahim H. Dankwambo  (Former Accountant-General of the Federation & Current Governor of Gombe State - 30 March, 2009) Benefits of e-Payment

6 Treasury Single Account (TSA)

7 7 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  TSA is a unified structure of government bank accounts - a single account or a set of linked accounts for all government transactions; gives a consolidated view of government cash resources; based on the principle of unity of cash and unity of treasury  Will help Government to unify banking arrangements in order to have overall oversight of all cash flows.  Means of promoting efficiency, transparency and accountability in Government payments  Achieve End-to-End electronic processing of Government payments in line with the National Payment System (NPS) Vision 2020 objectives. Treasury Single Account (TSA)

8 8 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Government currently has a fragmented banking arrangement - over 10, 000 bank accounts in multiple banks.  Over N70 billion government funds was lost in failed commercial banks (Source: OAGF, March 2012)  Government does not always know the balance of funds held in the commercial banks, across all MDAs  Government still goes to borrow money when it has money in commercial banks and other accounts in CBN.  The TSA will ensure that Government has access to funds when needed and would only borrow if there is no fund in the consolidated account Why the Need for TSA?

9 9 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  The existing Consolidated Revenue Fund (CRF) is now the TSA for Federal Government. It is maintained at CBN  MDAs initiate and approve transactions against approved budgets using a central Financial Management System (GIFMIS) that integrates with the CBN e-Payment Platform to automate and streamline payments across all MDAs  MDA payment instructions are sent to CBN to provide the cash for consummation  Most Government/ MDA funds are domiciled in CBN, reducing CBN’s huge cost of liquidity management for Open Market Operations (OMO)  Reduced idle cash balances of MDA funds at both CBN and Commercial Banks TSA Implementation

10 The CBN e-Payment Platform

11 11 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  CBN has adopted Remita as its e-Payment platform for the following:  End-to-End electronic processing of payment instructions (salaries, vendors, taxes etc) for over 150 MDAs  Efficient collection of Government Revenues and timely remittance to TSA  Global monitoring of transactions online real-time as well as generate appropriate reports as required  Beneficiary accounts can be in Commercial Banks, Micro Finance Banks and Mortgage Banks The CBN Remita e-Payment Platform

12 12 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Remita is secure and flexible. Approval flows defined as required for each MDA  Payments are made from the Consolidated Revenue Fund (CRF) or from the accounts of each MDA at CBN  Integration with an enterprise financial management system  Provides visibility and traceability for CBN, OAGF and MDAs  No more use of paper mandates at CBN for CRF transactions  Payments effected from CRF using Remita since Feb 2012  Transactions totaling Over 150 Billion Naira a month is passing through the CBN Remita platform The CBN Remita e-Payment Platform

13 FGN e-Payment Project

14 14 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Integration of Remita with CBN T24 Application  Integration of Remita with GIFMIS  Deployment of Remita to CBN, OAGF and 108 MDAs  Training of over 600 nominated users Project Scope

15 15 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  25 Oct Project Kick Off  22 Dec System Testing of Remita-CBN T24 Interface  23 Jan Acceptance Testing of Remita-CBN T24 Interface  25 Jan Go Live of Remita-CBN T24 Interface  26 Jan Live payments by OAGF via Remita  29 March Acceptance Testing of Remita-GIFMIS Interface  02 April Go Live of payments via GIFMIS -Remita Milestones

16 16 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Political will and backing for the project from top level executives  Effective mobilization and sensitization of stakeholders on an ongoing basis, not just at the beginning  Clear road-map with timelines  Provision of project resources-Training, computers, Internet, consultants, reading materials  Selection of a proven e-payment platform that covers the entire scope of e-payment...no need to combine multiple solutions, handles payments and collections from the same solution with single sign- on/login, supports TSA, directly integrates into Govt core accounting solution, etc.  Effective change management Critical Success Factors

17 17 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012 Integration of Remita with CBN’s T24 application  Debit of CRF Account with approved payments  Crediting of Banks’ CBN accounts with sums due  Remittance of funds to beneficiaries in commercial banks, micro-finance banks and mortgage banks Integration of Remita with GIFMIS application  Processing of payments from over 100 MDAs  Feedback to GIFMIS users on their transactions Deployment of Remita to 150+ MDAs for Capital payments Training of over 600 MDA personnel on Remita Current Status

18 18 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Delays in the processing of beneficiary payments by some banks  Quality of legacy data presented by some MDAs  Assuaging doubt- will this thing work? Many projects have come and gone, etc.  Resistance to change especially by those not too familiar with computers  Teething problem associated with change to "normal" work processes by people who have done things the same way for many years  Coordination of multiple stakeholders and aggregating needs to ensure system is implemented to meet expectation of all parties  Unintended consequences of technology Some Challenges

19 19 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Firm commitment and support from CBN for the e-Payment drive  Management support from OAGF to deploy e-Payment across MDAs  Understanding of the dynamics of Government decision making  Ability of Remita to deploy quickly with minimal training  Flexibility of Remita to adapt to last minute changes  Collaboration and team work between project partners What Has Helped

20 20 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Nigeria and Nigerians can achieve ANYTHING If we choose to do it  Nigerian solutions have come of age and can compete with the best from any part of the world  The Civil service institution is a veritable platform for national transformation if given the opportunity and resources  Same process can be easily replicated by States, parastatals, LGAS, etc, and even extended to cover payroll, pension and biometrics so there is just a single solution  Incentives need to be provided to motivate civil servants saddled with such transformational initiatives and are still expected to do 100% of their normal jobs at the same time Lessons Learnt

21 Overview of Remita e-Payment Solution

22 22 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012 What is Remita? Remita is a comprehensive ONE-STOP e-Payment, e-Collection and Payroll Solution. Extremely robust and yet so easy to use, Remita is designed to be used by any public or private sector organization irrespective of Size, Structure or Specific requirements.

23 23 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  View balance in all your accounts across all banks on just one screen  Handle e-payment of all types - salaries, pensions, taxes, suppliers/contractors, individuals, etc.  Make payments to beneficiaries in any Microfinance, Mortgage or Commercial Bank  Instantly notify payment beneficiaries by SMS and  Monitor and report on any activity or payment ever made and on the platform  Operate all your bank accounts from just one place right from the comfort of your home, office or anywhere you may be in the world With Remita e-Payment you can:

24 24 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012 Handle all collection types-fixed or variable amounts or regular or irregular intervals Automatically debit accounts held in any bank in Nigeria Collect cash from customers through any bank branch View consolidated collection activities from all banks on a single screen Pre-notify customers 3 days before actual debit With Remita e-Collection you can:

25 25 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT With Remita Payroll, within minutes You can:  Compute all staff allowances, loans, pensions, taxes and other deductions.  Use Biometrics to identify your staff and pensioners  Pay staff and pensioners with accounts in any Microfinance, Mortgage and commercial banks  Automatically deliver electronic schedules to PFAs, PFCs, Cooperatives, Unions and other statutory agencies  Provide staff with pay slips and tax computation slips  View unlimited Payroll, Pension & Biometrics Reports

26 26 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012  Government is committed to the transformation of the financial landscape through a multi-pronged approach of e- payment implementation across all sectors  Government has started out with herself at the Federal level to demonstrate commitment to the initiative and serve as an example to others  Phased approach starting with over 100 MDAS. Other MDAs to come on board  The adoption and successful deployment of Remita by CBN will further contribute to the deepening of e-Payment at all levels of Government  Remita provides a complete solution, not just e-Payment Summary

27 27 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012 “… the level of accountability and transparency in public financial management witnessed in Nigeria today is brought about by the cumulative effects of the combination of various strategies among which is the e-payment system and it is being improved for new and better results”. - By David Agba, 16 October 2010www.allafrica.com

28 Presentation to: E-PAYMENT FOR GOVERNMENT SUMMIT 2012 Thank You


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