aieromon:


Exercise in futility. The accounts are meant to be zeroed at the end of each banking day.

Like you see in the banks,nobody dey go house if money no complete!

Cleared!

TonyeBarcanista,

welldone,& thank you for this thread...

i almost cced you when someone asked me to create a thread about TSA but knowing how crazy it is to baby a thread from derailers & angry folks, i shied away...

But i can assure you that you just added more enemies to the ones you have...

That pix killed it... Nice addition..

TonyeBarcanista:
I find the media noise and opposition over TSA as unnecessary, unpatriotic and ill-conceived. The reason for my position I shall spell out.(Apologies for the lengthy epistle)

Before The TSA Regime...
Prior to the implementation of TSA, government Ministries, Departments and Agencies usually have their respective accounts where monies are lodged. What happened during this period was that a DG of an Agency or Executive Chairman will open an account for the Agency that he is in charge of, lodge monies there and make illegal withdrawals in connivance with corrupt bank officials. 70% of this fraud go undetected except an insider raised an alarm. We have had cases in the past where DG's of Agencies will deposit funds belonging to the agency in a commercial bank that he has interest. Even when alarm is raised, he will simply come out to sermonise us how he has been keeping these monies for the public and use court injunctions to evade justice, whereas his original intent was to divert it. A perfect example was the case of former Vice President and APC Chieftain Atiku Abubakar. As Chairman of Petroleum Training Development Fund(PTDF), Atiku lodged over $30million and $164 in Trans International Bank and Equatorial Trust Bank respectively from the account of PTDF according to EFCC's forensive indictment in 2006. In fact, 'loans' that yielded interest as high as 15% to the banks were collected from the said banks by Atiku and his proteges AFTER PTDF millions of dollars has been lodged with the illegal account. It was all business! When the deal was busted in 2006, Atiku simply said that he 'kept the monies for safe-keeping' and even claimed that he deserves commendation. What about cases of DG's and ministers that must have gone unreported? How did Tafa Balogun manage to loot his billions as Police IG? Hundreds of billions that cannot be quantified have left Nigerian treasury unreported and undetected before now.

With the coming of TSA, all these anomalies have been taken care of. The recurring act of ministers or DGs of Agencies opening illegal private account in a commercial bank for illicit activity has been eliminated. Everyone now operate with a single account that is managed by the CBN. In fact, every goat shall see free yams no more(with due respect to GEJ's Goat and Yam theory). We shall see how a prospective goat intend to eat our little yam(that isn't even enough for us) without being caught by the authorities.

The Controversial N25billion and The 1% Commission:
When Otunba Dino Malaye raised the tale of Systemspecs(owner of the Remitta software) collecting N25billion(1%) of the monies processed so far, I asked myself whether Dino is living in the same Nigeria with me or somewhere else. The position of Dino is flawed for two basic reasons;

1. It amounts to stark ignorance to think that Nigeria has N2.5trillion cash at present. I even doubt if we have 50% of the said money. Naturally, such gossip shouldn't have been peddled by a senator of this great country. It is left for the men at beer parlours. Thankfully, Ibrahim Muazu, CBN's Public Communication director clarified the whole thing when it said that, an estimated sum of N1.2trillion is what was expected to be moved to the government account all through the whole exercise.

2. From the report of PremiumTimes, it was explained that Systemspec is only entitled 50% of the 1%. While the Banks and CBN get 40% and 10% respectively. An excerpt of the agreement reads..

If this is the case, then there is NO way Systemspecs would have pocketed N25billion even IF N2.5trillion has been processed(which is NOT correct). If we are to follow the government position that less than N900billion has been processed, it means Systemspec must have pocketed something close to N4.5billion. This amount is 18% of the vague figure raised by Dino.

I think Dino should tell Nigerians where he got his own figure from.

Ex-AGF Jonah Otunla Deserves Commendation From Nigerians:
Sincerely, I'm not too pleased with the arrangement of 0.5% going to the Systemspec. It is very exorbitant and highly unsustainable when considering the huge amount involved. I wish the sum can be renegotiated but we MUST give kudos to the former Accountant-General that came up with the deal.

According to the report on PT, before the agreement was signed in 2013, Systemspecs proposed a commission of 1.5%, Commercial banks proposed 5%, while a committee setup by CBN and AGF's office proposed 2.5%. It was the exAGF Atunla that overruled all the proposals to 1%. This will see the software providers get 0.5%(as against their proposed 1.5%), Banks 0.4%(against 5%) and CBN 0.1%. Some officials would have negotiated their own cut and agree with the earlier proposals(or even increased it). May God Bless Jonah Atunla for acting in the interest of the public.

Kudos To Dr Goodluck Jonathan:
When Jonathan was explaining his now famous Yam and Goat theory, he made mention of removing the yam from the goat so as to make it difficult for the goat to eat the yam. He then stated that he was building institutions that will tackle corruption once and for all. Though, there were few goats whose prosecution was demanded by some Nigerians during Jonathan's era, I believe that it will be fair for us to clap hands for him for conceiving and promoting this policy that will further alienate the goat from the yam. Indeed, he had plans of separating the goats from the yams and he meant his words. His administration started the implementation of TSA actually in March 2015. The CBN/OAGF gave the directive for commencement in February 2015. In fact, this was captured in CBN's letter to Systemspecs, which I quote....

www.premiumtimesng.com/news/headlines/193213-full-details-of-tsa-dino-melaye-misled-nigerian-senate-on-n25-billion-claim.html

Bravo President Muhammadu Buhari
It takes a selfless leader to continue good initiative and policies of his/her predecessor. We have seen cases where successors discontinue policies of their predecessors to do 'their own'. Irrespective of party and tribal divide, President Buhari deserves commendation from Nigerians and not knocks for continuing with this wonderful policy. If there is ANY single thing that Buhari should be commended for since his government came to office, it is the TSA continuation.

Despite being in opposition, I'm praising Buhari for taking a patriotic step. I understand that this is in contrast with the APC position when they were in opposition. They never commended the FOI law, they opposed military crackdown against BH terrorists and even opposed the designation of BH as terrorists organisation. I believe that we all should play politics of patriotism irrespective of our partisan leaning. Nigeria's interest should take preeminence in all our decisions.

On Senate's Probe...
I still don't know what the Senate is probing but I support the probe on condition that their intent isn't to ask the Executive to stop the policy. They should investigate to know whether or not a fraud has taken place at anytime of the process. They should ensure that their probe is to strengthen TSA for public interest. However, they MUST not attempt to stop the policy, because it will be resisted. They shouldn't also consider opting out of the TSA because that will be fought against by the masses.



May God Bless Us All and Bless Nigeria

For posterity sake!

modath:

TonyeBarcanista:

Well, returned to APc? No... If everybody move to ruling party then who will provide opposition to keep the government in check for the good of the country?

The truth is that Nigeria's politics has evolved from "oppose everything that has to do with government" to address issues and oppose unfavorable policies of government. We just have to flow with the tide or we'll be left behind. I wish people will understand.

Well, let's hope credible opposition will be offered henceforth. I commend you on this thread.

modath:


TonyeBarcanista,

welldone,& thank you for this thread...

i almost cced you when someone asked me to create a thread about TSA but knowing how crazy it is to baby a thread from derailers & angry folks, i shied away...

But i can assure you that you just added more enemies to the ones you have...

That pix killed it... Nice addition..

That picture is like a spear through the hearts of "some people", the Abobakus of Ajebo Goats.

They know we are expecting them to show up and rip the op to shreds, so they are steering clear for now, knowing the more they comment, the more the thread stays at the top of the pile on the board, and the more likely it is to attract the attention of Lalasticlala- and we know what happens when he see's some kind of threads.

They must be sobbing quietly somewhere.

TonyeBarcanista:

Well, returned to APc? No... If everybody move to ruling party then who will provide opposition to keep the government in check for the good of the country?

The truth is that Nigeria's politics has evolved from "oppose everything that has to do with government" to address issues and oppose unfavorable policies of government. We just have to flow with the tide or we'll be left behind. I wish people will understand.

Boss we dey your back on this, on point.

aieromon:


Exercise in futility. The accounts are meant to be zeroed at the end of each banking day.

Like you see in the banks,nobody dey go house if money no complete!

Very apt from personal experience.

Lalasticlala Seun Obinoscopy, this deserves front page even though it's from opposition figure.

PassingShot:

For posterity sake!

..before he "deletes" ot "deactivate". You don't trust him.

Just check out the few people viewing the thread... They must be really pained.

omenka:
That picture is like a spear through the hearts of "some people", the Abobakus of Ajebo Goats.

They know we are expecting them to show up and rip the op to shreds, so they are steering clear for now, knowing the more they comment, the more the thread stays at the top of the pile on the board, and the more likely it is to attract the attention of Lalasticlala- and we know what happens when he see's some kind of threads.

They must be sobbing quietly somewhere.

Omenka, i don't do E war but on this, imma throw it down.

The problem with the wailers is that 90% of them are worse than directionless sheeps... they are quick to refer to people as slave & dullards without an iota of comprehension of what the subject mattwr is..

They don't get it & when you try to school them, they start hurling invectives at their relatives..


If you see the hurry with which trainings, first 28 days allowances , small contracts etc are being approved, fear go catch you...


If there is a metre to gauge fear & sadness, would have wished to be able to measure the pulse of very senior civil servants, this isn't the best of time for them...


Senators on their side are angry cos MDAs have no funds to bribe them anymore, coupled with zero based budgetting , how will they gather the levies PDP has imposed on them to run the party?

2019 is looking bleaker for them..

As for Dino & Saraki, i repeat, they will GET SERVED!

omenka:
..before he "deletes" ot "deactivate". You don't trust him.

Just check out the few people viewing the thread... They must be really pained.

You're too smart!

This is balanced. It is our collective responsibility to commend or condemn as at when due.

I hope the APC crew can borrow a leaf from this.

Sometimes you dey get sense, but other times I no dey know wetin dey worry you. brilliant article I must say. This TSA has cut down all the corrupt civil servants a political appointee to size. Just three months months they are already complaining. They ain't seen nothing yet.

PRYCE:
Ome.nka, Please come and insult Barcanista!... Your insults are entertaining!

Unbiased Analysis!

But Wait oo TonyeBarcanista, What if the heads of revenue-gathering agencies decide to steal their share before paying into the TSA? Seeing Buhari and his minister of Finance are the only signatories to the account?

Steal which share? Na that one worse pass o. Nobody will pay anybody in hand-2-hand cash. Monies will be paid into the TSA and transactions done from there by agencies. E don red for them

This is just nice!

ok

Pls I need some info about carpet tiles, prize and hw many pieces each carton contain.

Chubhie:
This is balanced. It is our collective responsibility to commend or condemn as at when due.

I hope the APC crew can borrow a leaf from this.

I doubt it! just look at the comments from the APC crews on this thread and it is clear the type of mindset they have.
the inability of PMB administration to pursue governance has hardly been talked about by the APC.
the critique of the TSA in the house is from APC senators.
well as the days go by the carelessness of PMB handling of the economic issue,oil and gas and others will become clearer unless he changes that "not my concern" attitude.
as for the op!
well he has constantly been on the attacks from his APC crews,so you can see WHY he has to write in this form.
the real crux is that whooping #8trillion federal budget naijaleak and 40% 2016 capital expenditure that I want to see.whether the govt will deny or further give a condition

Nice article.

wao....nice one bro...

PassingShot:

I was expecting something wishy-washy from him but he has disappointed me with this one.

Don't be deceived bruh

Nuella222:
Pls I need some info about carpet tiles, prize and hw many pieces each carton contain.

do you mean semplex or nigerite!

PassingShot:
Lalasticlala Seun Obinoscopy, this deserves front page even though it's from opposition figure.

the moment a progressive pleads for a wailer's thread to make fp...

I am so loving this.

TonyeBarcanista:

Steal which share? Na that one worse pass o. Nobody will pay anybody in hand-2-hand cash. Monies will be paid into the TSA and transactions done from there by agencies. E don red for them

The singular reason APC E-goats are praising you is simply because you hailed Buhari as continuing with Jonathan's innovations... I thought GEJ was monumentally corrupt? How come the false anti-corruption crusaders are religiously continuing with his policies?? Yeye dey smell!

Beremx:
the moment a progressive pleads for a wailer's thread to make fp...

I am so loving this.

Perhaps he has decided not to be a wailer but a credible opposition figure.

PassingShot:


Perhaps he has decided not to be a wailer but a credible opposition figure.

better for him! He can't wail forever.

baralatie:

I doubt it! just look at the comments from the APC crews on this thread and it is clear the type of mindset they have.
the inability of PMB administration to pursue governance has hardly been talked about by the APC.
the critique of the TSA in the house is from APC senators.
well as the days go by the carelessness of PMB handling of the economic issue,oil and gas and others will become clearer unless he changes that "not my concern" attitude.
as for the op!
well he has constantly been on the attacks from his APC crews,so you can see WHY he has to write in this form.
the real crux is that whooping #8trillion federal budget naijaleak and 40% 2016 capital expenditure that I want to see.whether the govt will deny or further give a condition

Most of them are yet to find the strength to stand for truth cos of backlash from crew members. This we can all understand.

Kudos to GMB and GEJ alike.

Mr. Barcanista, this is a master-class on investigative journalism and intelligent analysis. May you be ever blessed for this.