Harwoyeez:
All agencies submitted their budgets for each year n will get what they budgeted for. Their spending has been limited to their budget

PassingShot:

Rant it again pls.

baralatie:

that is the other side though!
it is now the executive responsibility to pursue ITS BUDGET and properly make its financial plan ACCURATELY FOR THE SMOOTH RUNNING OF ITS MDAS!
I just hope the PMB clearly understand HOW to run an organisation with this scheme!

baralatie:

if PMB failed it on oil subsidy and the refineries what makes you think he is serious about the larger economy with his ideology of "Nigeria economy is not my problem"

TonyeBarcanista:

I don't know what Saraki's problem is. I think it is in his own interest to come to terms with the new development. We (masses) all want a better country that we'll be proud of. Any elite that is not satisfied should visit Akure asap

baralatie:

if you are in Lagos.adeniji market is your best place or visit their headquarters in ikeja

realnews:
Barcanista. That is a great write up. You are a gifted political analyst.

You belong to the masses. You dont belong to APC or PDP. Please leave PDP and dont join APC.

Be a neutral political analyst who condemb bad policy and promote good policy.

You will excell more doing that than being partisan.

Kudos. You are great and good.

Paentera:
This is another concern - will States & LG adopt same? In a discussion with a friend, he was of the opinion that a carrot and stick approach can be used to get them to tow the TSA line.

Paentera:
This is another concern - will States & LG adopt same? In a discussion with a friend, he was of the opinion that a carrot and stick approach can be used to get them to tow the TSA line.

brainbucks:


...and by "us" I fathom you mean inclusive of your self?

Lol I comment my reserve.

TonyeBarcanista:



Photo credit: Vanguard

porka:
THIS IS WHAT WE KNOW...

Dino Melaye raised a vital motion on the implementation of TSA.

N25B was alleged to have been paid to the consultants handling the TSA.

At no point did Dino Melaye mention Systemspecs or any company.

The Senate raised a committee to investigate the implementation of TSA.

REMITA we are told is the system for implementing TSA.

CBN days later acknowledged monies were illegally deducted from Nigeria's account.

CBN said monies illegally deducted have been ordered recovered, they said the amount is N8.6bn

CBN said Buhari asked them to call for refund.

Ayo Fayose alleged that Buhari and his party are deducting Nigeria's money to recoup their party's elections "investments".

Ayo Fayose wonders how a single company (or a set of companies - comprising less than 15000 individuals max) would be allowed to deduct 1% of Nigeria's money leaving over 140m other Nigerians with 99%.

Ayo Fayose wonders why the charges can't be negotiated downward to 0.1% (or less).

Ayo Fayose said he won't be party to "looting" Nigeria's treasury.

Systemspecs writes to the president explaining why the money should be returned back to them.

Lai Mohammed denied the amount deducted from Nigeria's treasury and not the deductions.

Lai Mohammed's figure of total revenue collected (N1.2trn) is different from the CBN's (N1.4trn) and different from the senator's allegations (N2.5trn).

QUESTIONS

1) How did Systemspecs, a private company, authorized to deduct money (service charge) directly from Nigeria's treasury?

2) (i) If Systemspecs' share of the deal is 50% of the 1% commission,

(ii) If the revenue collected so far is N1.2trn (according to Lai Mohammed) or N1.4trn (according to the CBN) or N900bn (according to Tonyebacanista)

(iii) If 1% of N1.2trn is N12bn; of N1.4trn is 14bn; of N900bn is N9bn

how did Systemspecs come about the N8.6bn they refunded?

3) If Systemspecs' share so far is the amount it refunded to the CBN (i.e. 50% of 1%) then the total 1% would be N17.2bn, and the total revenue collected would amount to N17.2trn.

4) Why has the CBN not demanded a refund from the banks?

5) If a system is to curb leakages in the system why is it difficult to get accurate figures. Why is the figure changing from one commentator to another.

COMMENTS

From the foregoing, it is clear no one has yet called for the scrapping of TSA.

It is also clear that the implementation of TSA has some serious issues (all new systems do have teething problems.)

It is in the best interest of all the citizens that these issues are resolved and the TSA goes into full swing.

Denying that nothing is amiss or blackmailing the whistle-blowers will further reinforce doubts and entrench insinuations.

FOOD FOR THOUGHTS
For those people disparaging Ayo Fayose;

Would this TSA have prevented Babatunde Fashola from awarding a website contract for N78m or 2nos boreholes for N138m?

clintwine:


I can answer question 1 and 4 for you,
1) Remita does not go into the treasury to take the money, the money goes through them into the treasury and they collect their charges prior to this, it is a software, takes its commission then remits the remainder (if it does not work in this way as most payment processors do, then they would apply balance reconciliations, then the CBN pays them)

4) The banks employ people to attend to you when you to make a govt transaction , it is a service that needs people trained on how to use the software, the banks charged for all these services , Remita is a software , I don't think it needs billions for maintaineance

I have not had time to go through all the various figures being banded around as money in the TSA,

but i do have 3 questions for you.
1) Would you rather we have a single account TSA ? where all Nigerians can trace every cash and if stolen how it is being stolen OR many accounts used by various government bodies where we have no idea who is stealing and how much

2) If TSA is not a good idea, how do you reckon we deal with stealing on grand scales by civil servants

3)What do you understand by the zero budget system, do you think it is better than what we had and does it combat corruption when coupled with the TSA

porka:


REACTIONS

1) REMITA deduction from Nigeria's Treasury at source leaves room for fraudulent practice, maybe the kind that brought about this controversy.
It is against Nigeria's constitution to deduct Nigeria's money without legislature approval. And then what measures are in place to monitor how much is deducted and when they are deducted? From what we know, it doesn't seem there's any measure in place yet. If there is, the CBN would not have to RECOVER these monies from Systemspecs.

2) Your answer is ambiguous. Please clarify.
Spin doctors say 40% of the 1% belongs to banks. Why did the CBN not ask the bank to refund their own share?

ANSWER

1) I would rather Nigeria continue to fine-tune any system we agree on. Make it transparent. No system is foolproof. It is execution that matters. This one has not been executed properly. If it was, I doubt if anyone would be able to raise thess kind of issues. I mentioned earlier that all systems have teething problems. I was being very diplomatic; all systems have loopholes that can be exploited.

Meanwhile, why is there a problem with Dino Melaye's motion if you postulate that we all can monitor and know where and when mega monies are being stolen?

We have agreed to deploy technology (it seems all of us have accepted Jonathan's Goat and Yam Theory afterall) so let's monitor the execution and fine-tune it.

2) Again, a bad or good idea depends on execution. As you can see. This system if care is not taken (if the loopholes are not blocked now) is opened to stealing of "mega proportion" by any president and his few accolades - what happens if/when we have someone like Abacha as president for instance. As you can see, no one knew what was going on until Melaye raised his motion. And it appears only a few people can tell you what is going on at this moment.

3) Yet again, no system of budgeting is foolproof. Politicians use all manner of semantics to fool people, don't be carried away. When the issues with the so-called zero budgeting start emanating, you won't be in Mars.

Would zero budgeting have prevented Babatunde Fashola from awarding a website contract for N78m or 2nos borehole for N138m? You evaded that.

karashita:

Thanks

chymystique:
Tonye, ve you returned to APC? Or You ve decided to sit on the Fence.. ...

Apt and Unbiased content you wrote up there though

clintwine:


The TSA we are talking about was not Buharis brain child, It was jonathans, all the deals were agreed in that government. They could not implement or execute it appropriately as he was surrounded with a lot of corrupt people and he was not strong enough to effect it.
we have someone who has the will power to effect it and not scared of what people say

do you know how many MDAs there are , do you have an idea of how many accounts they each have, how can you monitor these?
the best way of monitoring is a single account so all Nigerians can beam their search lights on, but when someone comes up with the idea that this is a method of looting by the government then i can only assume that they gained from the looting and corrupt practices of multiple accounts where someone can keep governments money in fixed accounts to get the interest on it

to your question about the banks, let me give you a common illustration of how banks do business
when you go to buy Jamb forms from banks they get a commission for each sale, that is the percentage they take for that.
hope that helps.

I did work in a bank some years ago, so i have a very good idea of what i am talking about
before you make up your mind about someone spinning a story, investigate it

PassingShot:

So, he has already failed on refineries and subsidy in you guys' books?
Idiocy is when you expect PMB to fix monumental problems of over sixteen years in just five months.

realnews:
Barcanista. That is a great write up. You are a gifted political analyst.

You belong to the masses. You dont belong to APC or PDP. Please leave PDP and dont join APC.

Be a neutral political analyst who condemb bad policy and promote good policy.

You will excell more doing that than being partisan.

Kudos. You are great and good.