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Nairaland Forum / Nairaland / General / Politics / How Dino Melaye Misled The Senate On TSA, Remita (9439 Views)
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How Dino Melaye Misled The Senate On TSA, Remita by mindthing: 2:49pm On Nov 13, 2015 |
There are indications that Dino Melaye, a senator representing Kogi West may have misled Nigerians with accusations that Remita, a payment platform owned by Systemspecs is milking the country by charging 1% as fee on all transactions. According to a letter issued on December 17, 2013 and circulated to all Deposit Money Banks, the Central Bank of Nigeria [CBN] have debunked Melaye’s statement. Titled “Commencement of Federal Government independent revenue collection under the Treasury Single Account [TSA] initiative” the CBN stated in the communication that “a fee of 1% of funds collected is payable, and this would be shared by solution provider and participating banks”. Further investigations showed that the CBN, before it selected Remita as its gateway, examined existing local and foreign infrastructures before its endorsement and choice of the platform. The CBN approached NIBSS; a company owned by all Nigeria banks; including the CBN, the apex bank also reviewed the suitability of RTGS provided by CMA a foreign software house, and was convinced about its unsuitability before SystemSpecs’ Remita was considered. According to facts available online and via the company website, Remita is a payment platform and not a company as many including the Kogi Senator would want the upper chambers to believe. Media reports also claimed that SystemSpecs; owner of Remita-the CBN licensed payment gateway has been in existence for about 23years while Remita has been holding sway in the electronic payments space for about 10 years- long before the advent of TSA. Investigations revealed that during evaluation, the CBN’s requirement-which was an integrated platform that connect to the banks and CBN’s platform, appeared beyond the reach of locally available solution. Nevertheless, to make the selection process transparent, the CBN invited other companies to participate in the bidding as was the required procedure. CBN sources said Remita was offered the TSA project because of its unique capabilities to deliver on the requirement. Investigations further revealed that the Office of the Accountant General of the Federation [OAGF] and the World Bank supported the project and its evaluation. “After due diligence, the contract was given to Systemspecs to deploy Remita as the CBN TSA Payment Gateway”, the CBN source said. Recall that Melaye told the senate that Remita is a collection agent. The CBN source debunked this by saying “TSA is not just about collections, but payment and collection. The payment component started since January 2012 with little or no resistance. However, Collections which will have greatest impact on the economy by curbing corruption and blocking leakages was frustrated and repeatedly delayed until the new administration came in and insisted it must take off”. http://expressng.com/2015/11/dino-melaye-misled-the-senate-on-tsa-remita-source/?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+expressng%2FLmGT+%28Entertainment+Express%29 3 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by 9jatriot(m): 2:55pm On Nov 13, 2015 |
WE still owe Dino Melaye a lot of appreciation for bringing the public to the notice of such a contract signed with SystemSpecs. Without his alarm, those guys would have been smiling to the bank without any more work being done. However, I do not think SystemSpecs is to blame in any of these, the onus was on the government to have either outrightly bought the software or negotiated a better deal with a time frame to eventually own the software. Another arrangement would have been an annual service charge. However I am making all these suggestion because I am not one of the owners of the company, with this kind of contract in place, I for just de sleep for one country and wake up for another one 4 Likes 1 Share |
Re: How Dino Melaye Misled The Senate On TSA, Remita by Demmocrats(m): 2:56pm On Nov 13, 2015 |
Re: How Dino Melaye Misled The Senate On TSA, Remita by olaboy33(m): 2:57pm On Nov 13, 2015 |
Tell me something!!! |
Re: How Dino Melaye Misled The Senate On TSA, Remita by jhydebaba(m): 2:57pm On Nov 13, 2015 |
Our senators are not well informed. The other day, one was saying they offered civic education but today there is nothing like that. 4 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by laudate: 3:05pm On Nov 13, 2015 |
9jatriot: Don't be funny. ![]() ![]() Such fees which constitute a percentage of the transactions done, are worked out for different payment platforms all over the world. If you own a credit card in USA or the UK today, you pay a percentage fee per annum, for owning the card. Even Visa and Mastercard charge the banks for every customer that uses their cards, to make payments or remit payments. It is perfectly within the law. These fees are called acquirer - processor fees. So what rubbish is Dino Melaye saying?? Dino is from the same local govt as the MD of the company that installed Remitta. He is just trying to blackmail and witch hunt the man. Or maybe he asked for a bribe, and the guy refused to oblige. Who knows?? ![]() 27 Likes 6 Shares |
Re: How Dino Melaye Misled The Senate On TSA, Remita by baralatie(m): 3:08pm On Nov 13, 2015 |
meanwhile some people are busy throwing tantrums on sahara report!
smh 5 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by 9jatriot(m): 3:09pm On Nov 13, 2015 |
Oga, I have read all the facts and I understand to a large extent the Dino may have been trying to play hero, still I think we should allow for discerning voices, it helps review and correct issues early. Lets assume this came out just before 2019 elections, it would have been very difficult trying to explain. I operate the principle that sometimes our so called enemies can actually help me achieve our goals without knowing it laudate: 5 Likes 2 Shares |
Re: How Dino Melaye Misled The Senate On TSA, Remita by Okanokan(m): 3:16pm On Nov 13, 2015 |
From one refutation to daily refutation, some hours back it was stated that CBN has already recovered some money from REMITA and just now another report just came in that Dino Melaye report on the floor of the Senate is not correct, now nobody knows what is happening anymore it seems the whole game is jumble the facts that Nigerians does no know the beginning or end of TSA. The Buhari Administration should do an economic inventory of TSA before implementing policy it never put in place, what are the advantages or disadvantages, how can we find a middle ground that would be beneficial to the Nigerian People. The Apc team should up thier game because what Nigerians see with them is intellectual laziness and too much propaganda. 1 Like |
Re: How Dino Melaye Misled The Senate On TSA, Remita by DONSMITH123(m): 3:19pm On Nov 13, 2015 |
Who is Dino please? Op, you mean Saraki's body guard? 8 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by laudate: 3:20pm On Nov 13, 2015 |
9jatriot: I still repeat that Dino does not know what he is saying. That senator should even be the first person to be probed for living above his means. ![]() What company has he set up that can account for his source of flamboyant wealth?? ![]() ![]() If CBN had used Mastercard or Visa International platforms, they would have paid 10 times more. Why is anyone not asking about the CBN platform for Real-Time Gross Settlement (RTGS) which is operated by a foreign company?? How much does that foreign firm collect annually from CBN?? Has Dino said anything about that? 16 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by sandraokosun1: 3:22pm On Nov 13, 2015 |
Okanokan:what is apc own here, is it not self explanatory. Their is no confusion on use of tsa, the issue here is whether or nt the remita company deserves the 1% it recieves, even if they must get percent, discretion here is that that percent is still too big. It is rather ur gej and pdp who agreed ths deal without looking at the proportion of percentage remita gets. The cbn has said it has recovered the money, what is the refutation there again. Dino isnt saying the tsa is bad or its nt suppose to be given to a company, all he is putting to our notice is the sum in percent which remita gets and he thnks its too much, obviously the senate agrees and want to re negotiate percent. 3 Likes 1 Share |
Re: How Dino Melaye Misled The Senate On TSA, Remita by Nobody: 3:22pm On Nov 13, 2015 |
which means that ther is nothing like refund of 8.6 billon naira, apc n propaganda na waa oh! 3 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by Okanokan(m): 3:30pm On Nov 13, 2015 |
From one refutation to daily refutation, some hours back it was stated that CBN has already recovered some money from REMITA and just now another report just came in that Dino Melaye report on the floor of the Senate is not correct, now nobody knows what is happening anymore it seems the whole game is to muddle and jumble the facts so that Nigerians do not know the beginning or ending of TSA. The Buhari Administration and the Apc should carry-out an economic inventory of TSA before implementing policy it never put in place; what are the advantages or disadvantages, how can we find a middle ground that would be beneficial to the Nigerian People. The Apc team should as a matter urgency up thier game if they will not become irrelevant before 2019 because what Nigerians see with them is intellectual laziness, inability to think through Government policies thoroughly before going to press (a case of putting the cart before the horse), and too much propaganda. |
Re: How Dino Melaye Misled The Senate On TSA, Remita by sandraokosun1: 3:33pm On Nov 13, 2015 |
dtruthis:u people are brainless, has cbn reforted what it earlier stated 2 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by 9jatriot(m): 3:34pm On Nov 13, 2015 |
I understand your gross, I share same sentiments too about both houses (which I think Nigeria does not need anyway). I am just happy that the facts came out early. PDP has been trying for eternity to stick mud on PMB's clothing so far none has stuck. This one went boomerang right on their face and so will many others. Dino is a case on his own, trust me, u need such radicals for the dirty jobs wen d need arises. laudate: 1 Like |
Re: How Dino Melaye Misled The Senate On TSA, Remita by sandraokosun1: 3:36pm On Nov 13, 2015 |
Okanokan:u think writing long jargons makes u sensible. Ur brain is like a little kid with crayons on a white board 2 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by sandraokosun1: 3:40pm On Nov 13, 2015 |
laudate:its nt abt dino personality here. He only brought to the notice that so and so amount is what translates frm 1% remita gets. It would now be debatable if its too much or ok 1 Like |
Re: How Dino Melaye Misled The Senate On TSA, Remita by laudate: 3:46pm On Nov 13, 2015 |
9jatriot: This issue of CBN using Remitta has absolutely NOTHING to do with APC or PDP. It is NOT a political affair. It is basically a straight-forward financial transaction, that takes place in a similar fashion in many countries, on a daily basis. So why is Dino trying to make a mountain out of a molehill? ![]() If that technological payment platform was not in place, what other alternative would CBN have used for remitting TSA funds from the accounts of the commercial banks to the CBN?? Would they have used physical collection methods with its attendant risks, or manual entry methods which is prone to errors, or the slow processing epileptic methods they have used over the past few years, with its attendant computing risks? ![]() Every single payment processing platform all over the world, charges a fee for the transaction it carries out. This is standard international financial practice. They have to maintain the backbone that supports the platform. They have to pay for the communication backhaul that supports the platform. The hardware devices, encryption modules and software also have to be paid for, and maintained regularly. Dino is just making noise, over nothing!! ![]() 6 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by ziccoit: 3:48pm On Nov 13, 2015 |
post=: The post above is from another thread related to the issue of discuss and that is where the problem is. If the CBN has the resources to handle the project; why contracted it out at the expense of the state? There are lots of wastage in this country. Projects are awarded just to create avenue for some people to "eat" from the system. In one of the SW states, the governor bypassed the workers who are employed and statutorily empowered to pay the workers salary by contracting out salary payment to a company. The company now deducts N50million Naira as processing fees each time worker salary is paid. This is the same state which has been finding it so difficult to pay the workers and owning them months in arrears. I am definitely tired of this system. Corruption has been legitimatized as if it is actually part of Nigeria constitution. |
Re: How Dino Melaye Misled The Senate On TSA, Remita by Okanokan(m): 3:50pm On Nov 13, 2015 |
[quote author=sandraokosun1 post=39981712]what is apc own here, is it not self explanatory. Their is no confusion on use of tsa, the issue here is whether or nt the remita company deserves the 1% it recieves, even if they must get percent, discretion here is that that percent is still too big. It is rather ur gej and pdp who agreed ths deal without looking at the proportion of percentage remita gets. The cbn has said it has recovered the money, what is the refutation there again. Dino isnt saying the tsa is bad or its nt suppose to be given to a company, all he is putting to our notice is the sum in percent which remita gets and he thnks its too much, obviously the senate agrees and want to re negotiate percent. [/quote SandraOkosun, we are not quarrelling, are we? The entire gamut of what Nigerians are saying is the that the Apc and Buhari led Administration does not THINK THROUGH critically and thoroughly POLICIES it inherited and POLICIES it intends to bring on-board, and when such policies fails, its only recourse is to blame the previous administration and that is bad and it showcases the fact that Apc does not how to use its HISTORIC MANDATE for the benefit of Nigerians. |
Re: How Dino Melaye Misled The Senate On TSA, Remita by rolchi(m): 3:59pm On Nov 13, 2015 |
@Laudate Please, I want to be your friend. I like following intelligent guys. What's your twitter handle? Can I like you on FB? |
Re: How Dino Melaye Misled The Senate On TSA, Remita by 9jatriot(m): 4:06pm On Nov 13, 2015 |
Yeah, I get your cross with Dino then. But like I said, I think he wanted to pull a popularity pr hero stunt like the one Ben Bruce has been trying to pull. laudate: 1 Like |
Re: How Dino Melaye Misled The Senate On TSA, Remita by laudate: 4:09pm On Nov 13, 2015 |
sandraokosun1: Who or what determines whether the percentage is big or not?? ![]() Was it Remitta owners that decided your APC govt should transfer its existing TSA Accounts worth over 1.5 trillion naira, in one fell swoop to CBN?? ![]() ![]() Another less well-conceived platform would have broken down under the sheer weight of such transactions. In fact, more resources, higher number of devices and a much larger bandwidth would have been deployed to support the platform, in order to handle that volume of transactions. So, in my view Dino should just go and sit down unless he has evidence to the contrary, that the 1% fee is too high. In the business world, if at any time an organisation feels that its transaction fees are too high, then it can switch to another payment platform with lower fees, if it is convinced it would get the same level of service and reliability. Or it can call for a re-negotiation. Chikena! So why is Dino making unnecessary noise?? ![]() 4 Likes 2 Shares |
Re: How Dino Melaye Misled The Senate On TSA, Remita by doctokwus: 4:10pm On Nov 13, 2015 |
laudate:Possible. With the new arrangement in town, avenues of siphoning funds by senators, like bogus constituency allowances and getting contracts from ministers are reduced to the barest minimum if not entirely eliminated.The likes of Dino cud have tried blackmailing the owner of the company, to play ball or he exposes "the fraud".Of course with the polluted political climate, its always easy to get one or two news media who don't bother to investigate and do not have basic journalism ethics,to air one's polluted views, as long as u drop some brown envelope and it serves their own political interests. 2 Likes |
Re: How Dino Melaye Misled The Senate On TSA, Remita by mandarin: 4:14pm On Nov 13, 2015 |
I do not see anything wrong in building a platform and earning through it, to me , that organization has arrived, simple and clear. However, if there are kickbacks involved from how much the company gets then cases of corruption may have to be investigated especially if such beneficiaries were part of those that approved the company for use or officials of CBN. This is because kick backs can influence the agreed percentage of commission considering the endemic nature of graft in Nigeria. I think the noise rather be an investigation into who gets what and not just about the company. It will also interest you that this company may not have offered the best rate for commission but may be chosen for benefit 'stakeholders' will get from the whole scheme. If no such thing exist, I think governemnt should just take its own WHT, allow the company to take its commission and negotiate a new deal or open up new bids for it. |
Re: How Dino Melaye Misled The Senate On TSA, Remita by Okanokan(m): 4:14pm On Nov 13, 2015 |
sandraokosun1: thought the net was for matured mind that have control over thier emotion, but with your response am beginning think i am wrong all along. Thanks for the insult it means one thing people are hurt when told the truth. |
Re: How Dino Melaye Misled The Senate On TSA, Remita by meforyou1(m): 4:20pm On Nov 13, 2015 |
sandraokosun1:remita doesn't take 1%. The 1% fee is shared between remita and the collection banks 1 Like |
Re: How Dino Melaye Misled The Senate On TSA, Remita by laudate: 4:22pm On Nov 13, 2015 |
ziccoit: Guy, please understand how the system works. Who is this unnamed CBN Official that is spewing forth inanities? ![]() Let us start with RTGS which was installed by a foreign company. To use that platform, CBN surcharges every commercial bank a large sum annually, to cover the cost of the backhaul and other equipments used to keep that platform, operational. Yet, it is very slow and breaks down frequently, and you have to call their offices every few hours each time it starts to drag. Each time this happens, the banks start to panic and call the CBN offices repeatedly, because there is a penalty for late submission of returns. There are even limitations as to what you can do on that platform. It is not even available to banks' branches in some local govt areas. Don't forget that it was because of the inadequacy of their existing platforms, that CBN undertook the search for a new platform that was far more effective. A number of companies bidded for it, and after due diligence and checks, CBN chose Remitta. Even NIBSS the Nigerian Inter-Bank Settlement System which is jointly owned by the existing commercial banks and CBN, could not offer the service at the agreed fee. It did not score highly also in the technical evaluation of its existing platform. In fact, let me stop here.... I have even given away too many secrets. 1 Like |
Re: How Dino Melaye Misled The Senate On TSA, Remita by porka: 4:38pm On Nov 13, 2015 |
No one offered any explanation like this on the subsidy issue. All we heard was that subsidy on petrol was a scam. But they have continued the payment after taking over nevertheless. 1 Like |
Re: How Dino Melaye Misled The Senate On TSA, Remita by ziccoit: 4:38pm On Nov 13, 2015 |
laudate: Throw more light @bolded. Did NIBSS offer to provide the same service at higher fee? Who didn't score highly in tech evaluation? Remitta? |
Re: How Dino Melaye Misled The Senate On TSA, Remita by laudate: 4:44pm On Nov 13, 2015 |
ziccoit: Guy, please read the OP' post again. It clearly answers most of your questions. I have reproduced part of it again, below. NIBSS did not score highly in the technical evaluation. mindthing: 1 Like |
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