In its report on ‘Abuse and Mismanagement of TSA,’ the senate has recommended that the Remita payment platform be discontinued and persons responsible for its implementation prosecuted for allegedly committing fraud.



The senate conclusion is as shocking as is its original motive. From the onset, the senate appears to have displayed a lack of understanding of the Remita payment platform and how it fits into the Treasury Single Account (TSA) process. Moving from calling Remita a company, it would later paint the picture of a newly signed TSA contract with Remita, a company.



Weeks later, it would appear the senate suddenly understood that Remita is an application – a payment platform designed and managed by a Nigerian software company: Systemspecs Limited; and also that the contractual obligations that bind the Central bank of Nigeria (CBN) and Systemspecs for the use of Remita for the TSA predates the Buhari administration.



Since then, a bewildered nation and ICT stakeholders have watched how indigenous entrepreneurship can be smoldered by self-serving politics. What went wrong with the Remita deal? Politics and unwholesome trade interest of competitors, who lost out, cleverly passed off as national interest.



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