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REMITA: Accountant-General, CBN meet SystemSpecs today

Nigerian Gossip 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 Nigerian Gossip. 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
The meeting should have been held long before
now, but recent developments have made it
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
“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


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