FinBank Plc has assured the Ministry of Commerce and Industry of increased revenue when the full implementation of the web portal being financed by FinBank for the Ministry becomes operational.

Group Managing Director/Chief Executive Officer of the bank, Mr. Okey Nwosu gave the assurance in Abuja on Wednesay during the signing of Memorandum of Understanding for the design and development of a web portal for the collection of internally generated revenue (IGR) for the Federal Ministry of Commerce and Industry. The agreement is between, Commerce Ministry, FinBank and Thirteen Scribes Ltd, the consultant to the project.

"The project will ensure that you have an increased revenue base and at the same time offer quality service to all the stakeholders that interact with the Ministry and obviously enhance the image of the country", Nwosu said.

The Group Managing Director explained that FinBank is reputed for very robust IT driven services and noted that the technocentric drive of the Bank informed its participation in the project.

"We are happy to be in partnership with the Ministry and the entire team and I believe that we will bring our expertise to bear in making sure that at the end of the day, it would have been a very commendable project that other ministries would like to emulate", he said.

Similarly, the Permanent Secretary in the Ministry of Commerce and Industry; who signed on behalf of the ministry, has enjoined the parties to the agreement to work together to ensure a seamless delivery of the potentials of the project and promised that a joint implementation committee will soon be inaugurated to fast track the process.

The entire project implementation is based on Public-Private partnership involving the ministry of Commerce and Industry, FinBank, as the financier and Thirteen Scribes Limited, the consultant, for the designing of a web portal for revenue collection as well as hosting information for the ministry.

It will be recalled that the federal Government has recently directed all the Ministries, Agencies and parastatals to adopt e-payment and other transactions in line with government's resolve to enthrone transparency.