I guess we can accept this as the FG official and unambiguous announcement on the TSA. It is clear no single business interest has made N25 billion per transaction as claimed by Melaye. Buhari will have to very careful with Melaye, Saraki et al because it is clear these guys are 'spoilers' eager to frustrate tha fight against corruption and the effort to enshrine transparency in the operations of government.

http://saharareporters.com/2015/11/17/president-goodluck-jonathan-regime-signed-tsa-agreement-1-fee-minister

President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister


BY SAHARA REPORTERS, NEW YORKNOV 17, 2015

The Minister of Information, Alhaji Lai Mohammed, has declared that the funds that have accrued to the Treasury Single Account (TSA) remain intact, and challenged anyone who has any facts and figure to the contrary to make such information public.



In a statement in Abuja on Tuesday, the Minister stressed that less than 2trn Naira has accrued to the TSA; as a result of which the one per cent charge on the amount cannot be 25bn Naira.

He said that apart from the resort to personal insults in the most un-dignifying statement ever credited to any state Governor in Nigeria, nowhere in his statement did Gov. Ayodele Fayose of Ekiti State controvert the facts stated by the federal authorities concerning the TSA.

[b]The Minister continued: ''For the sake of Nigerians at home and in the Diaspora who have been following the TSA debate, we hereby restate the facts:

- The TSA deal was initiated by the immediate past administration but only enjoyed a new lease of life under the Administration of President Muhammadu Buhari because of his sterling leadership
qualities of accountability, transparency, uprightness and respect for the rule of law.
- Any agreement on the TSA charges was reached long before the present Administration assumed office.
- Even if the agreement on the charges is one per cent, it could not have amounted to 25 billion Naira because the total amount of money that has accrued to the TSA is less than 2 trillion Naira.
- Even if one per cent was agreed as charges, whatever accrues therefrom was meant to be shared among the CBN, Systemspecs (the owner of the Remita software) and the commercial banks, hence no single company could have collected 25 billion Naira as charges
- As at the time the controversy over the TSA broke, the total amount of money in the TSA was less than 800 billion Naira
- The TSA has neither been enveloped in any fraud nor has any money from the account been diverted.[/b]


The Senate's investigation of the TSA issue is within its oversight responsibilities and is never a confirmation that the TSA funds have been diverted or that indeed one single company has made 25 billion Naira as charges.”

He asserted that these being the issues, the federal government stands by them irrespective of any rabble-rousing and demeaning statement from any quarter.

thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and maintanace fee?


Check this out

https://www.nairaland.com/2740386/shelves..beautiful

It is simply called a ONE CHANCE GOVERNMENT

kk

Combining the article above with that below, I think we do not need a rocket scientist to show us what Melaye, Saraki et al are up to.


http://saharareporters.com/2015/11/16/how-saraki-national-assembly-leaders-secretly-opposed-treasury-single-account

How Saraki, National Assembly Leaders Secretly Opposed Treasury Single Account


BY SAHARAREPORTERS, NEW YORK NOV 16, 2015

SaharaReporters has gathered more details regarding why members of the Nigerian Senate moved to clamp down on President Muhammadu Buhari’s administration over the Treasury Single Account (TSA).


Our investigation revealed that, in October, the leadership of the National Assembly led by Senator Bukola Saraki hatched out a secret arrangement to force Central Bank of Nigeria officials to exclude National Assembly accounts from the Treasury Single Account (TSA). The legislative leaders claimed that the TSA was hampering the National Assembly’s operations.

[b]One source told SaharaReporters that some members of the National Assembly were not pleased that members of the executive branch would know details of their hitherto opaque financial transactions. They consulted CBN officials about ways of quietly opting out of the TSA. Our source stated that CBN officials could not make a commitment to remove legislative accounts from the TSA opting to inform President Buhari instead. However, when Mr. Buhari was informed of the arrangement, he immediately objected to excluding NASS accounts.

On learning of the president’s objection, Mr. Saraki mobilized other National Assembly leaders and invited CBN officials to a meeting in October. At the meeting, the legislators reportedly threatened to deal with the CBN if the regulatory bank’s officials did not exclude them from the TSA. A source familiar with the meeting told SaharaReporters disclosed that the lawmakers told CBN officials they had found out certain officials of the Buhari administration were using a third party, SystemSpecs Limited, to milk Nigeria through the TSA policy.
[/b]
Our source revealed that, following the testy meeting, CBN officials decided to discontinue the 1% fee that was deducted from the federation account and paid to Systemspecs Limited for managing the TSA protocol. Officials of former President Goodluck Jonathan’s government had arranged for the 1% fee.

Our investigation revealed that the TSA protocol was first mooted in December 2011. In January 2012, the Jonathan Presidency signed an agreement with SystemSpecs, owners of the software used for TSA deposits. The implementation phase of the agreement was then signed in December 2013 authorizing the use of TSA as a payment platform.

Infuriated that they failed to get their accounts out of the TSA, Nigerian senators have raised a motion calling for a probe of the TSA. They claimed that the TSA was President Buhari’s agenda to steal money from the Nigerian treasury. However, CBN officials and the owners of Systemspecs openly declared that Mr. Buhari did not sign the service agreement between the Systemspecs and the Federal Government. In a letter sent to President Buhari, they explained that the service fee paid to SystemSpecs Limited ballooned after the Buhari administration ordered commercial banks to surrender all government funds in their possession, adding that the CBN then stopped the service charges.

A senator told SaharaReporters that Mr. Saraki was also upset about the TSA because of its deep impact on Heritage Bank, a commercial bank in which he and other members of his extended family have significant ownership stake. The source disclosed that Societe Generale Bank, which Mr. Saraki’s family virtually liquidated through reckless banking practices and corruption, had re-emerged as Heritage Bank. The CBN recently approved a merger of Heritage Bank and Enterprise Bank. With the introduction of the TSA policy, “the Senate President cannot just place the Senate’s funds in a bank where he has financial stake.”

As Governor of Kwara State, Mr. Saraki often funneled state funds into banks in which he had significant interests.

Our senatorial source also alleged that Mr. Saraki’s burgeoning legal fees had made the former governor desperate to fight the TSA in order to have unfettered access to the Senate’s budget. According to the senator, Mr. Saraki had hired a score of lawyers to scuttle his ongoing trial at the Code of Conduct Tribunal. “His legal expenses are not a joke. That’s another reason he does not like how the TSA policy is standing in the way of his ability to dip his hands into the National Assembly funds to help settle some of his legal bills,” said the legislative source.

b

BCISLTD:
thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?

They normally don't sell such technology. It's the reason they're in business.

I didn't need lai's response to see the truth. The mischievous intent of the opposition is to vilify this admin. That's the only way. I don't blame them, they lack ingenious strategies in playing opposition politics. Here's their only strategy, "APC govt must be hated if we must return to Power". It's sad that most Nigerians have been blinded by the activities of partisan politics that they no longer realize the ultimate goal here (A better Nigeria for Nigerians)

when PDP starts offering a clear opposition with good intentions for Nigeria and Nigerians, I'll know.

BCISLTD:
thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?

Royalty? No, each business deal has its own method of negotiation. Apart from that, I believe that Remita can't impose on the federal goverment to be part of the 1% benefit so the agreement with the government means the government is comfortable with the deal. That is to say, it pays the federal government and the truth is, Whoever initiated the deal must have some kinda ulterior motive.

Gbawe:
Combining the article above with that below, I think we do not need a rocket scientist to show us what Melaye, Saraki et al are up to.


http://saharareporters.com/2015/11/16/how-saraki-national-assembly-leaders-secretly-opposed-treasury-single-account

I see no reason why Saraki has not being jailed by now. That man is an advanced thief.

TSA is not in the best interest of the lawmakers, they will fight it with every breath inside them..

Dino isn't whistle blowing, he is only rabble rousing & looking for ways of forcing the status quo to remain..

modath:


Ok, this is how it works;

1.MDAs prepare their budget for the next year,

2.Heads of MDAs go to the Senate to defend their budget.

3. Senators overseeing that particular establishment "request" for a little "something" to be added to that in order not to "slash" it.. Eg, min of pepper & salt puts in a reguest for 500mn, senators ask for 100m as the "fee" for smooth passage, which will automatically increase the 500 to 600..

4.They quickly source for the money from one of their numerous accounts & they pay up even before passage, otherwise it is OYO


With the TSA, there is no longer going to be money for heads of MDAs to steal let alone kickback to them.. All the inflows & outflows are no longer shrouded in mystery...

MDAs are presently looking for ways to spend what is left of their budgets, so it doesn't revert to TSA cos by 31st Dec, every unspent kobo will be pulled out..


Lawmakers didn't kill & maim to get to their post for that ish mehn..


Hope it's clearer, if it isn't, let me know.

The only comma for me is that the contract should have been vetted properly & re-worked to favourably serve the nation, so this kind of mud slinging & buck passing would never have arisen...

BCISLTD:
thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?

Good question one would have to put to the GEJ government that signed the original deal with SystemSpecs. The TSA itself is a good idea and this is why the Buhari government decided to resurrect and use it.

Officials of former President Goodluck Jonathan’s government had arranged for the 1% fee.

Now it is clear, according to official statement of the FG through its minister of information, it is members of the GEJ government that negotiated the 1% fee. This clears up the controversy because it shows there is no wrongdoing on the path of the Buhari government who can only continue with the scheme, if it wants to derive the obvious benefit Remita provides, until it can review the terms of the contract or possibly cancel without heavy financial penalty.

It is important to note that Remita is a collection system and those usually attract a transaction fee based on the amount involved. The idea of royalty or maintenance fee would therefore not appeal to SystemSpecs (the owner of Remita) since the amount collected on behalf of clients may vary considerably.

Can our mods please put this in fp?

Lalasticlala Seun Afam4eva Obinoscopy.

Gbawe:
I guess we can accept this as the FG official and unambiguous announcement on the TSA. It is clear no single business interest has made N25 billion per transaction as claimed by Melaye. Buhari will have to very careful with Melaye, Saraki et al because it is clear these guys are 'spoilers' eager to frustrate tha fight against corruption and the effort to enshrine transparency in the operations of government.

http://saharareporters.com/2015/11/17/president-goodluck-jonathan-regime-signed-tsa-agreement-1-fee-minister

[size=16pt]if not because Dino melaye whistle-blew that OLEEEEEEEEEEE! OLEEEEEEEE! on APC FG and the guilt felling of stealing makes you to remember jonathan to cover-up when 750billion per month multiplied by 6 months has been pocketted by REMITA![/size]

Gbawe:


Good question one would have to put to the GEJ government that signed the original deal with SystemSpecs. The TSA itself is a good idea and this is why the Buhari government decided to resurrect and use it.



Now it is clear, according to official statement of the FG through its minister of information, it is members of the GEJ government that negotiated the 1% fee. This clears up the controversy because it shows there is no wrongdoing on the path of the Buhari government who can only continue with the scheme, if it wants to derive the obvious benefit Remita provides, until it can review the terms of the contract or possibly cancel without heavy financial penalty.

No, the Minister's statement does not resolve the issue. It seems your priority is to clear the air on whether Buhari's government was at fault or not. That is not the issue that concerns most people. The issue is that this contract has all the signs of a shady PDP contraption schemed to funnel 1% of the contry's entire internally generated commonwealth into the hands of a handful of people. For this reason alone, I am in full support of the Senate investigating this contract.

The Presidency or Ministry of Finance must initiate its own investigation into the motive of the people in the previou.s administration who agreed to this fee. Afterall, the government is revisiting a number of other shady deals signed by the previous government

modath:


TSA is not in the best interest of the lawmakers, they will fight it with every breath inside of them...

Indeed. I personally think Buhari will have problems with this Senate because it is full of pro-corruption scoundrels led by Saraki. Why should Melaye rush to publicly declare that one single company is made N25 billion from TSA remittance when the total amount that has gone into the TSA is not enough to yeild a 1% fee of N25 billion? What is behind this sort of mischief when the Senate, even agreeing it has oversight function, should be a partner to the executive arm instead of the peddler of erroneous and false information?

Gbawe:


Indeed. I personally think Buhari will have problems with this Senate because it is full of pro-corruption scoundrels led by Saraki. Why should Melaye rush to publicly declare that one single company is made N25 billion from TSA remittance when the total amount that has gone into the TSA is not enough to yeild a 1% fee of N25 billion? What is behind this sort of mischief when the Senate, even agreeing it has oversight function, should be a partner to the executive arm instead of the peddler of erroneous and false information?

DID gej leave an empty treasury?

Idiots! So una don remember seh na Jonathan started TSA? because breeze don blow for fowl nyash?.... Fools!!!!

BCISLTD:
thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?

I also thank for the clarification.... but my own question is, why would the current administration go forward with such a defective agreement, if you now want to blame it on previous administration. Did you not study it before pushing to go ahead with it?

Why should it be someone in far away legislative arm pointing out such an important matter to the leaders of the nation in the executive arm?

Gbawe:


Good question one would have to put to the GEJ government that signed the original deal with SystemSpecs. The TSA itself is a good idea and this is why the Buhari government decided to resurrect and use it.



Now it is clear, according to official statement of the FG through its minister of information, it is members of the GEJ government that negotiated the 1% fee. This clears up the controversy because it shows there is no wrongdoing on the path of the Buhari government who can only continue with the scheme, if it wants to derive the obvious benefit Remita provides, until it can review the terms of the contract or possibly cancel without heavy financial penalty.

It is important to note that Remita is a collection system and those usually attract a transaction fee based on the amount involved. The idea of royalty or maintenance fee would therefore not appeal to SystemSpecs (the owner of Remita) since the amount collected on behalf of clients may vary considerably.

The emboldened part refers pls:

Buhari administration must have reviewed all aspects of TSA before adopting it and even making it mandatory on all MDAS after the deadline it set all by itself.

Buhari administration saw the graft and adopted it, until the whistle was blown on it.

Do not try to exonerate anyone. It's either negligence or complicity. Either way, it is baaaad!

PassingShot:

They normally don't sell such technology. It's the reason they're in business.

I know that. .hence I suggested royalties and an initial development fee...but not part of 1% of collection. .


But then again....we don't know the percentage of the 1% they are getting. ...it better be small ooo

chudionu58:
Idiots! So una don remember seh na Jonathan started TSA? because breeze don blow for fowl nyash?.... Fools!!!!

Why is it that it is insult alone some of you can contribute when important issues concerning the governance of Nigeria is discussed? What "breeze don blow for foul nyash"? What has happened, for anyone who can read and comprehend what is written, is that the Buhari government has been forced to defend itself from accusations of impropriety by garrulous yet ignorant mischief-makers like Fayose, Melaye et al. It is obviously important to all well-meaning Nigerians that the Buhari government officially clear the air and establish that it did not sign the 1% fee agreement with SystemSpecs.

Should the Buhari government sit around twiddling its thumbs while the likes of Fayose goes around winding Nigerians up by asking the govt to declare who "owns Remita" when that is not even relevant given that it was the outgoing PDP government that drafted in SystemSpecs (the owner of Remita) and signed the 1% fee arrangement with it? Also should Buhari remain silent while the likes of Melaye imply that the 1% fee is too high without acknowledging that the GEJ government agreed to that amount with the only options open to the Buhari Govt probably being a renegotiation of the fee at expiration of agreement term or outright cancellation if such is possible? Finally, why is Melaye going around stating that one company made N25 billion from TSA Remita deal when that is not true?

Jonathan signed the agreement and the Buhari government can only review or cancel such when/if able to do so. It is not everything we should be partial over. Sometimes things are crystal clear enough for us to see/defend what is right or wrong.

Our source revealed that, following the testy meeting, CBN officials decided to discontinue the 1% fee that was deducted from the federation account and paid to Systemspecs Limited for managing the TSA protocol. Officials of former President Goodluck Jonathan’s government had arranged for the 1% fee.

Our investigation revealed that the TSA protocol was first mooted in December 2011. In January 2012, the Jonathan Presidency signed an agreement with SystemSpecs, owners of the software used for TSA deposits. The implementation phase of the agreement was then signed in December 2013 authorizing the use of TSA as a payment platform.

otil1:


The emboldened part refers pls:

Buhari administration must have reviewed all aspects of TSA before adopting it and even making it mandatory on all MDAS after the deadline it set all by itself.

Buhari administration saw the graft and adopted it, until the whistle was blown on it.

Do not try to exonerate anyone. It's either negligence or complicity. Either way, it is baaaad!

Gbam x1000

Gbawe:


Indeed. I personally think Buhari will have problems with this Senate because it is full of pro-corruption scoundrels led by Saraki. Why should Melaye rush to publicly declare that one single company is made N25 billion from TSA remittance when the total amount that has gone into the TSA is not enough to yeild a 1% fee of N25 billion? What is behind this sort of mischief when the Senate, even agreeing it has oversight function, should be a partner to the executive arm instead of the peddler of erroneous and false information?

As long as the president still has integrity in him, makes policies open & is steadfast in his responsibility by attending to the yearnings of Nigerians, The Sarakis & Dogaras & their backers will lose both the battle & the war...

Then why una no cancel am?

Gbawe:


Why is it that it is insult alone some of you can contribute when important issues concerning the governance of Nigeria is discussed? What "breeze don blow for foul nyash"? What has happened, for anyone who can read and comprehend what is written, is that the Buhari government has been forced to defend itself from accusations of impropriety by garrulous yet ignorant mischief-makers like Fayose, Melaye et al. It is obviously important to all well-meaning Nigerians that the Buhari government officially clear the air and establish that it did not sign the 1% fee agreement with SystemSpecs.

Should the Buhari government sit around twiddling its thumbs while the likes of Fayose goes around winding Nigerians up by asking the govt to declare who "owns Remita" when that is not even relevant given that it was the outgoing PDP government that drafted in SystemSpecs (the owner of Remita) and signed the 1% fee arrangement with it? Also should Buhari remain silent while the likes of Melaye imply that the 1% fee is too high without acknowledging that the GEJ government agreed to that amount with the only options open to the Buhari Govt probably being a renegotiation of the fee at expiration of agreement term or outright cancellation if such is possible? Finally, why is Melaye going around stating that one company made N25 billion from TSA Remita deal when that is not true?

Jonathan signed the agreement and the Buhari government can only review or cancel such when/if able to do so. It is not everything we should be partial over. Sometimes things are crystal clear enough for us to see/defend what is right or wrong.

Bro u wrote all this grammar in response to that half wits rants...u try ooo..


Back to the issue at hand....from the statement. ..systemspec are entitled to part of the 1% bah?...we need to know what percentage of the 1% to determine if it was a good deal or not...

I know software deals get as much 500 million depending on the platform they are being deployed

Lool... So why was the APC taking the credit initially?

Dont you just love this administration?

otil1:


I also thank for the clarification.... but my own question is, why would the current administration go forward with such a defective agreement, if you now want to blame it on previous administration. Did you not study it before pushing to go ahead with it?

Why should it be someone in far away legislative arm pointing out such an important matter to the leaders of the nation in the executive arm?

There is a big difference with what you are saying and what is happening in reality. The FG is not blaming the previous government but rather defending itself because agents of corruption have decided to hijack the TSA issue, confuse Nigerians over it and try to damage the image of the Buhari government. Why is Fayose, a PDP governor, asking the FG to reveal the owner of Remita when he most likely knows that the GEJ government signed the original agreement with SystemSpecs i.e the owner of Remita? Has a pal of Buhari gained control of SystemSpecs recently otherwise of what relevance is Fayose's demand?

Also, an agreement was in place already with SystemSpecs that allows the FG to use the Remita collection platform. The Buhari government may simply feel it can use Remita till able to renegotiate terms of the agreement. The other day I read from a commentator who posited that the Buhari-led FG wants to abrogate so many costly and financially unwieldy deals and agreement the outgoing government signed yet the penalty for doing such would be very heavy and defeat the cost-saving drive of the goverment. This is all corruption fighting back in my opinion.

Frankiss44:
Lool... So was the APC taking the credit initially?

Dont you just love this administration?

Most underrated post I seen on NL ever.

First they where claiming it was Buhari's initiative now that SHTF they are pushing it to Jonathan.

If I could give you a million likes I would

Gbawe:


There is a big difference with what you are saying and what is happening in reality. The FG is not blaming the previous government but rather defending itself because agents of corruption have decided to hijack the TSA issue, confuse Nigerians over it and try to damage the image of the Buhari government. Why is Fayose, a PDP governor, asking the FG to reveal the owner of Remita when he most likely knows that the GEJ government signed the original agreement with SystemSpecs i.e the owner of Remita? Has a pal of Buhari gained control of SystemSpecs recently otherwise of what relevance is Fayose's demand?

Also, an agreement was in place already with SystemSpecs that allows the FG to use the Remita collection platform. The Buhari government may simply feel it can use Remita till able to renegotiate terms of the agreement. The other day I read from a commentator who posited that the Buhari-led FG wants to abrogate so many costly and financially unwieldy deals and agreement the outgoing government signed yet the penalty for doing such would be very heavy and defeat the cost-saving drive of the goverment. This is all corruption fighting back in my opinion.

Why blame Jonathan for a program that you guys initiated?

I thought you fools where celebrating the TSA as one of Buhari's fake achievements?