By JONAH NWOKPOKU

Electronic payment solutions provider, Remita has offered new ways to improve efficiency, and save more money through electronic payment.

At a breakfast meeting titled: ‘Declining revenues – time for new ideas’ Remita said given the declining revenues confronting the nation and disrupting operations and targets of some businesses, it has become imperative for businesses to begin to think of new ways of improving efficiency by curtailing wastes through electronic payments.

Managing Director of SystemSpecs, the operator of Remita, Mr. John Obaro said the company has come up with new ideas, ‘7 Remita ideas’ to help businesses and individuals improve on their incomes and management of resources.

Some of the ideas according to Obaro, include: “making and monitoring all payments through a single platform, improvement of payment collection process through adoption of electronic invoicing, automation of payroll processes through a one-stop pay-roll preparation and payment platforms and improvement of operational efficiency through generation of electronic schedules.”

Also speaking during the meeting, the Managing Director of Financial Derivatives Company Limited, Bismarck Rewane who gave a keynote address on Nigeria’s declining revenue, said the federal government could halt the trend of declining revenue by blocking leakages through Information and Communication Technology, ICT.

He said ICT has the capacity to transform tax revenue collection, improve services to tax payers, adding that buying and selling could be more efficient using e-‘payment as it will lead to improved resources management which will in turn lead to increase in revenue.

On his part, former Executive Director of First Bank of Nigeria, Kehinde Lawanson said there needs to be a robust engagement by ICT players to bring over 60 million unbanked population into the financial system, adding that for Nigeria to arrest the revenue fall, it needs to develop its export sector, support local investments by protecting local market and enhance local performance.