THE Office of the Accountant General of the Federation (OAGF) and the Central Bank of Nigeria (CBN) will today meet with SystemSpecs, banks and other stakeholders on the tariff for the transactions fees to be charged under the Treasury Singles Account (TSA).
Vanguard investigations reveal that the meeting, which was at the instance of the OAGF and the CBN, will review the tariff for transactions under the TSA.
Presently, there is a one per cent transaction fee for every transaction through the TSA which is conducted on Remita electronic payment platform owned by SystemSpecs.
A source close to the TSA project confirmed this development to Vanguard. Speaking on condition of anonymity, he said, “The meeting will involve all the companies in the TSA value chain, and they will discuss and agree on what the new tariff should be.
The meeting should have been held long before now, but recent developments have made it imperative”.
Last week, following the decision of the Senate to probe allegation that Remita had been paid N25 billion, being the 1 per cent commission it charged for the transfer of N2.5 trillion of federal government funds to the TSA, and the directive of CBN to SystemSpecs to refund the transaction fees charged so far under the TSA, SystemSpecs had written to the President, seeking intervention of the Presidency in the resolution of the transaction fees issues. The letter in part reads, “While 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.
“This 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. We understand the strategic importance of the TSA project to this Administration and the country at large.
“Your Excellency, we would appreciate your kind and urgent intervention to ensure a speedy resolution of this matter before the banks stop collections.
“In line with the subsisting contract and your assured commitment to the rule of law, we humbly request sir, that the fees earned by ourselves and the banks to date be returned to us and our partner banks. In view of the enlarged scope and the need to review the process, we humbly request sir, that you direct a meeting of relevant stakeholders be conveyed to agree a sustainable pricing model going forward. We solicit the continued political support of the TSA initiative by your Administration for this initiative that offers far more to our nation beyond the immediate take-off issues”.

...& you see people ranting over actions meant to make some greedy few sit up!!!

Most government decisions (even in US) is influenced by the 'favoured' few. We know that Dino has a lot of skeletons in his own cupboard, but we should also be grateful he raised this issue...

You kno what REMITTA will earn in a year, @ the 1% rate? isnt it the same stuff that happened btw BRF & Tinubu? The rate should be reduced asap!

B

genearts:
B

AngryNigerian:
.

Buying land for future development when thread hits FP abi? Better fence your property well because of 419ers

M

Thank You, Fayose

who owns REMITA....?

NL's can this APC led government be trusted, when we sleep?
If NO, we must open our EYES.
Simple question, still begging for answer. Who own REMITA?

jogsman01:
who owns REMITA....?

chemistry101:
NL's can this APC led government be trusted, when we sleep?
If NO, we must open our EYES.
Simple question, still begging for answer. Who own REMITA?

Guys I just found some very shocking and revealing stuff about the real owners of REMITA and who is behind all this!

>> http://bfy.tw/2pJD

chemistry101:
NL's can this APC led government be trusted, when we sleep?
If NO, we must open our EYES.
Simple question, still begging for answer. Who own REMITA?

wny not ask GEJ,the contract was signed with remita while he was in office and this 1% charge was also agreed then......

fineguy11:
wny not ask GEJ,the contract was signed with remita while he was in office and this 1% charge was also agreed then......

Wonders shall never end

.

AngryNigerian:
...& you see people ranting over actions meant to make some greedy few sit up!!!

Most government decisions (even in US) is influenced by the 'favoured' few. We know that Dino has a lot of skeletons in his own cupboard, but we should also be grateful he raised this issue...

You kno what REMITTA will earn in a year, @ the 1% rate? isnt it the same stuff that happened btw BRF & Tinubu? The rate should be reduced asap!

Take time to understand a story before dabbling into it. The 1% is meant to be shared among REMITTA, CBN and participating banks. Dino and other politicians kicking against it are doing so because of what they will be denied by the system.

As the TSA stakeholders meet today they should, please, address other business-unfriendly issues TSA implementation has thrown up:

& People doing legitimate business (that can only be done in dollars) are being unreasonably restricted from transacting business. The government have the list of all public officers that have access to public tills and should not be seen to hamper legitimate businesses of private citizens.

& Some public institutions as Universities, Polytechnics, Hospitals etc claim they have been begging for their own TSA account for months hence they cannot complete many routine services. Why should it take eternity to allocate accounts to public institutions with essential services? Must people die before we act every time? If students and patients cant pays fees for two months and somebody is not seeing that as deserving exigent attention then someone needs to be immediately eased out and replaced with competent and willing hands.

& Students and parents have been having issues paying fees to schools abroad. Some things are just too simple to be complicated - school fees can only be addressed to receiving schools so why creating impediments in the way of people' private endeavor when we all know the potential public thieves and their families.

& CBN or/and relevant bodies should urgently open a complaint desk to immediately address all complaints coming from the implementation of TSA.

Just a simple question who owns or whO are d owners of d goddamn software or application?

chemistry101:
NL's can this APC led government be trusted, when we sleep?
If NO, we must open our EYES.
Simple question, still begging for answer. Who own REMITA?

i'm sure you failed your chemistry101 and that's why you are asking this question. Don't you know gej introduced the term TSA and all terms of contract were agreed under him?

REMI TINUBU AHMED!

REMI TINUBU AHMED!

PRYCE:
REMI TINUBU AHMED!

Educate yourself bro

https://www.nairaland.com/2733623/real-owners-remita-system-specs

AngryNigerian:
...& you see people ranting over actions meant to make some greedy few sit up!!!

Most government decisions (even in US) is influenced by the 'favoured' few. We know that Dino has a lot of skeletons in his own cupboard, but we should also be grateful he raised this issue...

You kno what REMITTA will earn in a year, @ the 1% rate? isnt it the same stuff that happened btw BRF & Tinubu? The rate should be reduced asap!

1 percent rate is normal neither is it an abnormal profit. Even the percentage will be shared by all the major participants