Idris Ahmed
10 July 2009
Abuja — FinBank Plc yesterday signed a Memorandum of Understanding (MoU) with the Federal Ministry of Commerce and Industry to develop a web portal for the collection of internally generated revenue (IGR).
A web portal creates seamless way for revenue collection for government. It is a robust way of generating revenue in line with Federal Government directives on-payment.
The MoU was signed between the Group Managing Director and Chief Executive Officer of FinBank Plc, Okey Nwosu and the Permanent Secretary in the Ministry of Commerce and Industry, Linus Awute.
The portal is to support government's anti-corruption drives by blocking all leakages in revenue collection and remittance process. It makes every transaction traceable to ensure transparency.
Nwosu said: "The project will ensure that you have an increased revenue base. It, at the same time offers quality service to all stakeholders that interact with the Ministry and obviously enhance the image of the country.
He said: "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 will like to emulate."
Linus Awute, Permanent Secretary in the Ministry of Commerce and Industry enjoined parties to the agreement to work together to ensure a seamless delivery of the potentials of the project.
He said that a joint implementation committee will soon be inaugurated to fast track the process.
The web portal is a Public Private Partnership (PPP) project involving a consultant, the Thirteen Scribes Limited.
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