More facts have emerged on how the N25 billion commission accrued from the mopping up of federal government funds in commercials banks into the Treasure Single Account (TSA) was shared.<\/p>\n
\nThe company at the centre of the alleged fraud, Systems Specs which owns REMITA, said it got only .5% of the proceeds of the 1% commission on the contract for the operation of TSA.
\nSystems Specs in a letter to President Muhammadu Buhari, said the CBN and the banks from which the funds were moved also shared in the ratio of .4% and .1% respectively.
\nSystem Specs owns Remita, the e-payment and e-collection software used for the implementation of payments into the Treasury Single Account.
\nThe company also said the contract was signed in 2011, during the administration of former President Goodluck Jonathan, recalling that the present Emir of Kano, Sanusi Lamido Sanusi, was the Governor of the CBN then.
\nPrompt News recalls that Senator Dino Melaye, had raised the alarm at senate plenary last week that the company involved in the movement of FG funds from commercial banks into TSA got a whopping N25 billion as commission, prompting the senate resolution to probe the alleged rip-off.
\nHowever, Senate Leader, Ali Ndume, said the commission has increased from N25 billion to N60 billion.
\nREMITA, in a letter by Obaro to President Buhari stated, \u201cYour Excellency, we are aware that you must have heard series of reports around the 1% processing fees chargeable on e-Collections of Government receipts. We will like to provide some background on these issues sir.
\n\u201cSystem Specs was engaged to provide the Payment Gateway for TSA in 2011. While the payment leg of TSA commenced in January 2012, the collection component did not start as scheduled due to the resistance from a number of quarters and the absence of the political will to push this through.
\n\u201cIn 2013, CBN and OAGF setup a multi-stakeholder implementation committee and organised a joint seminar with key stakeholders, including banks, to agree formalities for commencement of e-collection.
\n\u201cThe Banks proposed a fee of 5% to compensate for the fact that they would no longer keep float.
\n\u201cThe implementation committee however recommended 2.5% after negotiation with the banks.
\n\u201cThe then AGF later approved 1% as processing fee, which was in turn communicated to all the stakeholders through CBN in December 2013. Subsequently, we executed a contract with CBN and other stakeholders involved on the provision of services to support TSA.
\n\u201cBased on the increased scope of the TSA project, following your directive in August 2015 for all MDAs to join the scheme, we had highlighted the need for a stakeholder meeting to discuss the TSA e-collection fees. This was communicated to both CBN and OAGF.
\n\u201cInstead of an invitation for a stakeholders meeting as requested, we received a directive from the CBN Governor to refund all TSA e-collection fees earned to date and to suspend all charges on the platform.
\n\u201cSystem Specs has since complied fully with this directive and refunded all monies earned to date to CBN. This we did in good faith and without prejudice to avoid distractions that could becloud the bigger potential of the TSA project for our country.
\n\u201cWhile we await clarification from OAGF\/CBN on the way forward, we have since suspended all TSA e collection fees on the platform. This means that none of the TSA collection parties\/channels are earning any fees for providing services to Government.
\n\u201cThis position is however not sustainable as the collection partner banks are threatening to suspend FGN TSA collections. This would clearly be playing into the hands of those who do not wish this initiative to succeed.
\n\u201cWe understand the strategic importance of the TSA project to this administration and the country at large. We have demonstrated good faith and continued commitment to the project in the last four years to deliver on our mandate.
\n\u201cWe will continue to do all within our power to bring the project to full term.
\n\u201cYour Excellency, we would appreciate your kind and urgent intervention to ensure a speedy resolution of this matter before the banks stop collections.\u201d<\/p>\n
\nPrompt News Online<\/p>\n","protected":false},"excerpt":{"rendered":"
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