Fidelity Bank Partners Lagos on Revenue Collection

Fidelity Bank Plc said it has deployed innovative solution for the collection of internally generated revenue (IGR) in Lagos State.

Working in conjunction with the state government, the bank stated that itdeveloped the tax collection/payment solution via its Unstructured Supplementary Service Data (USSD) channel.

A statement from the bank recently explained that the solution was in response to some of the challenges faced in making tax payments and remittances in the state.

According to the Divisional Head, Retail Banking, Richard Madiebo, the introduction of the USSD for the payment of state taxes was an innovative step that enables the average tax payer fulfill his or her obligations to government conveniently.

“This payment option is borne largely from our desire to always provide easy and convenient payment channels to the semi-formal and informal tax markets in Nigeria”, adding that tax payers can now make payment efficiently and this would eventually lead to a reduction of leakages in the system for the state.

Fidelity Bank pointed out that over the years, it hadpositioned itself as a key player in the IGR collection across federal and state governments.

The bank stated that it successfully deployed easy and convenient payment solutions in Anambra, Abia, Imo, Kano and Sokoto states, through point of sale (PoS) Terminal Tax Collections, Automated Electronic Motor Vehicle License, Land Registry Automation Processes and web payment platforms.

Speaking in the same vein, Head, Enterprise Solutions, Zee Agetua,expressed gratitude to the Lagos stategovernment for the partnership, adding that Fidelity was committed to helping to improve its IGR position.

“We are working to institutionalise a robust and efficient revenue collections and payments culture through our partnerships with state government agencies and departments through the years.

“This is borne out of our conviction that the revenue collections market has indeed huge potentials with increased digitization”, she said.

To get started and enjoy these benefits, the Head , E-Banking, Fidelity Bank, Ifeoma Onibuje explained that customers were simply expected to complete account opening and registration process by simply dialing a *770# on the phone linked to their account, choose the tax payment option and conclude their transactions.