Fidelity BankÂ Plc said itÂ has deployed innovative solution for the collection of internally generated revenue (IGR) in Lagos State.
Working in conjunction with theÂ stateÂ government,Â 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 theÂ solutionÂ wasÂ in response to some of the challenges faced in making tax payments and remittancesÂ in the state.
According to the Divisional Head, Retail Banking, Richard Madiebo, the introduction of the USSD for the payment ofÂ state taxesÂ was an innovative step that enables the average tax payer fulfill his or her obligations to government conveniently.
â€œThis 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 Nigeriaâ€, adding that tax payers can now make payment efficiently and this would eventually lead to a reduction of leakages in the system for theÂ state.
Fidelity BankÂ pointed out thatÂ over the years,Â it hadpositioned itself as a key player in the IGRÂ collectionÂ acrossÂ federal andÂ stateÂ governments.
TheÂ bankÂ stated thatÂ itÂ successfully deployed easy and convenient payment solutions in Anambra, Abia, Imo, Kano and SokotoÂ states,Â throughÂ point ofÂ 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 LagosÂ stategovernment for the partnership,Â adding that FidelityÂ was committed to helping to improve its IGR position.
â€œWe are working to institutionalise a robust and efficient revenue collections and payments culture through our partnerships withÂ stateÂ government agencies and departments through the years.
â€œThis is borne out of our conviction that the revenue collections market has indeed huge potentials with increased digitizationâ€, 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 dialingÂ aÂ *770# on the phone linked to their account, choose the tax payment option and conclude their transactions.