One of the top integrated payments and digital commerce firms in Africa, Interswitch, convened tax administrators and other important stakeholders from all over the country for in-depth discussions on revenue generation and collection in the context of digitization.
The meeting took held at the just finished Nigerian Revenue Summit in Abuja, Nigeria, with the theme “Digital Payment as a Catalyst for Revenue Growth.”
Significant discussion on the subject of strengthening the nation’s fiscal environment was sparked by the summit’s emphasis on the crucial role of digitization in Nigeria’s expanding economy.
This year’s edition expanded its reach and inclusivity with a focus on empowering state tax administrators to seamlessly integrate their existing systems with Interswitch’s cutting-edge technology infrastructure.
Delivering her welcome address, Chinyere Don-Okhuofu, Managing Director, Industry Ecosystems (Interswitch Indeco) said the firm is playing a pivotal role in driving the growth of revenue collection and generation in Nigeria by providing innovative and secure payment solutions that enable efficient transactions and increase government and business revenue streams.
She said “At Interswitch, we are all about innovation and solutions, and we recognize that digitalization is a key indicator of a country’s economic advancement.
That is why our commitment to innovation never stops. We are driving seamless revenue collection of tax with our revolutionary solutions, each designed to redefine traditional paradigms”.
Don-Okhuofu further said “Our recognition and vested support in businesses in the informal sector have inspired the creation of a series of products that help with automated enumeration, provide diverse payment channels, and a platform that gives a more centralized payment view, in the Nigerian Revenue system.”
In accordance with this approach, Aisha Obomoghie, Executive Secretary, Joint Tax Board, said it is imperative for stakeholders from the public and private sectors, taxpayers, and financial institutions to collaborate to create an ecosystem that encourages and facilitates digital tax payments.
She revealed that the Joint Tax Board is set to maximize tax revenue collection with the technical expertise of partners like Interswitch to ensure optimal collection of tax.
One of the summit’s highlights was an insightful panel discussion featuring tax experts. This session provided a unique opportunity to delve deeper into the intricate web of digital payment strategies, revenue growth prospects, and collaborative measures ultimately aimed at strengthening the nation’s financial landscape.
At the summit, attendees were exposed to a wide array of innovative products by Interswitch, designed to facilitate seamless and convenient state revenue collection. The showcase also featured products and solutions crafted to streamline organizational processes, further demonstrating Interswitch’s commitment to enhancing efficiency and effectiveness.
The summit’s success underscores Interswitch’s dedication to forming strategic collaborations and providing the essential technological ingredients for growth, solidifying its position as a catalyst for ecosystem development.