The President of the Senate, Sen. Bukola Saraki, has said that no amount of intimidation will stop the assembly from investigating the alleged N25 billion Treasury Single Account (TSA) fraud. Saraki was reacting to a motion moved by Sen. Dino Melaye (APC-Kogi West) on Tuesday over a newspaper article allegedly blackmailing the Senate for pointing out the alleged fraud.

Senator Saraki
Senator Saraki
He said the assembly would not relent in carrying out its constitutional duties, including pointing out any action that would be detrimental to Nigerians. “No amount of either blackmail or intimidation will stop us from doing the work we have to do.

“We have a responsibility here to ensure that there are no leakages in government funds and if there are, we will call the attention of the public and do whatever it takes to salvage the situation; it is our responsibility.

“ The fact about the TSA will come out and everybody will have opportunity before the committee to state the fact, the facts will speak for themselves,’’ he said. Saraki said the assembly would expedite action on the inauguration of Standing Committees to enable it to begin its oversight function fully.

Earlier, Melaye said his attention was drawn to the write-up accusing the Senate of working against President Muhammadu Buhari’s effort to implement TSA.
He expressed concern that the writer could conceive such an idea in spite of the National Assembly’s resolve to work with Buhari in fighting corruption.

Melaye recalled that it was the assembly’s stand on the alleged TSA fraud that led SystemSpecs to refund the one per cent it collected from mopped up funds to Central Bank of Nigeria (CBN). “The writer said we are against the change agenda of Mr President because we raised the abnormality going on with the implementation of the TSA.

“We did not at any time in this Hallowed Chamber implicate President Muhammadu Buhari of being involved in TSA fraud. “ We will not stop carrying out our legislative duties for fear of being blackmailed. “The motion moved last week had two prayers.

“The first thing we did was to thank Mr President and commend him for the implementation of the TSA and for anyone to say the Senate is fighting Mr President is myopic, parochial and unacceptable. “I have a letter here that I am going to lay with this paper, written by the Director, Banking and Payment of CBN to the Managing Director of SystemSpecs.

“The CBN categorically stated that they should remit the one per cent that they collected. “I also have a letter here by the managing director of that company to the Accountant General of the Federation and the Governor of CBN that have completely buttressed and elicited our decision last week.

“ So for people to blackmail us as irresponsible, it is not acceptable to me and the Senate. “Never would we allow blackmail and political and economic bigots to destroy the people. We are for the people and we will stand in defence of public interest,’’ he said. The write-up and letters cited by Melaye were referred to the Senate Committee on Ethics, Privileges and Public Petition to be returned to Senate in one week.

The Senate had on Nov. 11 raised alarm over alleged payment of N25 billion to one e-collection firm, REMITA, in one day as one per cent of monies transferred to TSA. It also directed its Committee on Finance, Banking and other Financial Institutions and Public Accounts to carry out a holistic investigation into the matter and report back in two weeks.

http://linkis.com/www.vanguardngr.com/szbgw

Probe everyone involved.
Probe everything involved.

If need be,
Probe CBN;
Probe all commercial banks involed;

probe President Buhari;
Probe Tinubu;
Probe anyone and everyone responsible.

Probe all concerned.

Nonsense!

They promised us change,
WE HAVE BEEN SHORT-CHANGED.

They promised us to hit the ground running,
THEY HAVE HIT THE GROUND GROUNDED.

They promised to fight corruption,
THEY ARE NOW AIDING AND ABETING KWORRUPTION.

They promised to regulate global fuel price and make pms available to Nigerians at a very low price,
NOW WE ARE BUYING FUEL ABOVE #200, DESPITE HOW LOW OIL PRICE IS PER BARREL.

They promised to equate naira face-value with a dollar,
NOW A DOLLAR GOES FOR OVER #220.

They promised to pay #5000 to each unemployed youth,
NOW THEY ARE DENYING, EXCUSING AND PROCRASTINATING.

They promised us a better economy,
NOW THE ECONOMY IS IN CAMATOSE.

U go fear thief wey wan probe...

ok

we are tired of all these probe probe probe with no end result. what happened to fuel subsidy probe years ago? farouk lawan is still a free man . All these senator fools know is to shout probe after collecting 'probe' allowance nothing will come out of it at then end of the day.

I think I am beginning to love this latest muscle flexing of Saraki and his EFCC bodyguard. let's see who will blink first between him and his goons vs the executive arm of the government.








Chanji nooni!!!

It's the APC's form of governance. If they claim to be patriotic, why are they writing the President and whitewashing the whole area with news of false allegations.

olatunji21:
U go fear thief wey wan probe...

its good that he's ready to fight back. it will make his case easier.



whoever that is corrupt should be dealt with .

THIS APC MOVIE WILL BE INTERESTING TO WATCH.

Hmmmmmmmm

Saraki You are not for the people,dont get it twisted.Go ahead and put pressure on the TSA to exempt NASS and other institutons that you have Vested interest, all in the name of investigation.Investigation my boxer!
Saraki you can fool yourself,you and your goons can fool yourselves.we are watching
No Lie Only Truth!

Lai Mohammed a.k.a TOUT, you gat this??

luck has fallen on the public.....almost everything is transparent.
keep telling us what we need to know about the TSA

I totally support Saraki on this. The Presidency needs to be purged of "CORRUPTION" TOO

PRYCE:
Lai Mohammed a.k.a TOUT, you gat this??

[quote author=erunz post=40119615]THIS APC MOVIE WILL BE INTERESTING TO WATCH.






True! But it would be costly for the audience.i hope you can pay the price.just saying
No Lie Only Truth!

[quote author=TimeManager post=40120169][/quote] I DID NOT VOTE CHANGE SO IT WON'T AFFECT ME

TimeManager:
Saraki You are not for the people,dont get it twisted.Go ahead and put pressure on the TSA to exempt NASS and other institutons that you have Vested interest, all in the name of investigation.Investigation my boxer!
Saraki you can fool yourself,you and your goons can fool yourselves.we are watching
No Lie Only Truth!

Shaarraaapppp dia ..

[quote author=IsraeliAIRFORCE post=40120016]“Never would we allow blackmail and political and economic bigots to destroy the people. We are for the people and we will stand in defence of public interest,’’




THAT IS WHAT THEY TOLD YOU BUT THAT IS NOT WHAT THEY DO!
No Lie Only Truth!

erunz:
The President of the Senate, Sen. Bukola Saraki, has said that no amount of intimidation will stop the assembly from investigating the alleged N25 billion Treasury Single Account (TSA) fraud. Saraki was reacting to a motion moved by Sen. Dino Melaye (APC-Kogi West) on Tuesday over a newspaper article allegedly blackmailing the Senate for pointing out the alleged fraud.

Senator Saraki
Senator Saraki
He said the assembly would not relent in carrying out its constitutional duties, including pointing out any action that would be detrimental to Nigerians. “No amount of either blackmail or intimidation will stop us from doing the work we have to do.

“We have a responsibility here to ensure that there are no leakages in government funds and if there are, we will call the attention of the public and do whatever it takes to salvage the situation; it is our responsibility.

“ The fact about the TSA will come out and everybody will have opportunity before the committee to state the fact, the facts will speak for themselves,’’ he said. Saraki said the assembly would expedite action on the inauguration of Standing Committees to enable it to begin its oversight function fully.

Earlier, Melaye said his attention was drawn to the write-up accusing the Senate of working against President Muhammadu Buhari’s effort to implement TSA.
He expressed concern that the writer could conceive such an idea in spite of the National Assembly’s resolve to work with Buhari in fighting corruption.

Melaye recalled that it was the assembly’s stand on the alleged TSA fraud that led SystemSpecs to refund the one per cent it collected from mopped up funds to Central Bank of Nigeria (CBN). “The writer said we are against the change agenda of Mr President because we raised the abnormality going on with the implementation of the TSA.

“We did not at any time in this Hallowed Chamber implicate President Muhammadu Buhari of being involved in TSA fraud. “ We will not stop carrying out our legislative duties for fear of being blackmailed. “The motion moved last week had two prayers.

“The first thing we did was to thank Mr President and commend him for the implementation of the TSA and for anyone to say the Senate is fighting Mr President is myopic, parochial and unacceptable. “I have a letter here that I am going to lay with this paper, written by the Director, Banking and Payment of CBN to the Managing Director of SystemSpecs.

“The CBN categorically stated that they should remit the one per cent that they collected. “I also have a letter here by the managing director of that company to the Accountant General of the Federation and the Governor of CBN that have completely buttressed and elicited our decision last week.

“ So for people to blackmail us as irresponsible, it is not acceptable to me and the Senate. “Never would we allow blackmail and political and economic bigots to destroy the people. We are for the people and we will stand in defence of public interest,’’ he said. The write-up and letters cited by Melaye were referred to the Senate Committee on Ethics, Privileges and Public Petition to be returned to Senate in one week.

The Senate had on Nov. 11 raised alarm over alleged payment of N25 billion to one e-collection firm, REMITA, in one day as one per cent of monies transferred to TSA. It also directed its Committee on Finance, Banking and other Financial Institutions and Public Accounts to carry out a holistic investigation into the matter and report back in two weeks.

http://linkis.com/www.vanguardngr.com/szbgw

UNMASK THEM... PDP IS BACK.

When Fayose talks next time, people should listen carefully ..
..This isn't about Lai Mohammed fluking jargons ..

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

Contrary to the alarm raised by the Senate over the alleged illegality and exorbitant commission charged for the deployment of Remita, an e-payment software used for the transfer of Federal Government’s funds from financial institutions into a single treasury account (TSA), PREMIUM TIMES can authoritatively report that the use of the software is not only legal but also represents a drastic cut of the commission previously charged by banks for collection of government revenues.

Also, findings reveal that the commission collected by SystemSpecs, the owners/developers of Remita, is nowhere near the N25billion Dino Melaye (APC, Kogi West) alleged to have been collected by the firm.

It was Mr. Melaye who originally moved the motion on the Senate floor for the payment to be investigated.

Last Wednesday, following Mr. Melaye’s motion, the senate ordered its committee on finance and public accounts to immediately commence an investigation into the use of Remita (which it erroneously described as an e-collection agent) for remitting government funds into the TSA, and its alleged collection of N25 billion commission being one per cent of the alleged N2.5 trillion it remitted into the TSA.

Mr. Melaye had argued that the use of Remita was a violation of Section 162(1) of the constitution, which stated that “the federation shall maintain a special account to be called the federation account into which all revenues collected by the government of the federation except the proceeds from the personal income tax of the personnel of the Armed Forces of the Federation, the Nigeria Police Force, the ministry or department of government charged with foreign affairs and the residents of the FCT, Abuja”.

Mr. Melaye further stated that the Central Bank of Nigeria could only appoint a registered bank as an agent for collecting and disbursing the funds.

He said that since Remita was not a bank, its appointment as a collection agent was in violation of the CBN Act and the Banks and Other Financial Institutions Act (BOFIA) 2007.

According to him, Remita collected N25 billion “for doing nothing.”

However, documents, including the service agreement between SystemSpecs and CBN, correspondence between the company and the office of the Accountant General/ CBN as well as a letter to President Muhammadu Buhari, seen by PREMIUM TIMES, show that not only was the commission charged backed by law, it is shared by the company, commercial banks and the CBN.

Although the commission is nowhere near the exaggerated N25 billion touted by Mr. Melaye, the one per cent charge also represents a drastic reduction from between the two per cent and 46 per cent commission charged by commercial banks in some instances for collecting government revenues.

In a telephone interview with PREMIUM TIMES, the CBN Director for public communications, Ibrahim Muazu, dismissed the amount quoted on the floor of the senate as “completely misleading.”

“That is false. That is false,” he repeated for emphasis.

“It is grossly exaggerated. We are talking of one per cent. What is one per cent of the money? Have we collected up to a trillion? That is a completely misleading information. Even at the beginning of the TSA the estimation of all the movement of federal government funds into the account is N1.2 trillion,” he added.

When asked to tell the total amount moved into the TSA, Mr Muazu said: “I cannot give you the exact amount now but I know it is far, far, far lower than N2.5 trillion.”
The Agreement

According to the service agreement between the parties, signed by Eunice Ikekhuah and Aderemi Atanda of SystemSpecs on December 4, 2013, and H.M Yusuf and R.A Olaniyan of the CBN on December 11, 2013, Systemspecs and the CBN agreed to deploy Remita, a T24 banking application, for executing payment instructions and collection of government revenue.

Apart from the collection of revenue, Remita is also used for payment of salaries, payment of taxes, payment of pension, payroll processing biometric verification, among other uses.

In a letter dated November 6, 2015, to Mr. Buhari, SystemSpecs explained that “all commercial banks and over 400 Micro Finance Banks in Nigeria” are connected to the software. The company also explained that 705 Ministries, Departments and Agencies (MDA) are currently using the software as payment and collection platform.

So, contrary to Mr Melaye’s argument in the senate, Remita is indeed a software that facilitates the payment of government revenue from financial institutions to a TSA in the CBN and not a revenue collection agent.

Also, contrary to Mr. Melaye’s submission, the entire one per cent commission does not go to SystemSpecs. The commission is shared by the CBN, commercial banks, and the CBN.

“A tariff of 1% of the funds collected shall be charged for the government revenue collections: i. Platform Owner/SystemSpecs: 50%, ii. Collecting Agents/DMBs (banks): 40%, iii. Introducer? CBN: 10%,” the agreement reads.

SystemSpecs further explained that at a seminar organised by the CBN and the Office of the Accountant General of the Federation (OAGF) May27-28, 2013, it actually proposed a commission of 1.5 per cent, It explained that commercial banks actually proposed 5 per cent, while a committee set up by the CBN and the OAGF proposed 2.5 per cent.

It explained that it was the then Accountant-General of the Federation that actually overruled all the suggested commission and reduced it to one per cent.

However, the company said it was surprised to receive a letter from the CBN, signed by Dipo Fatokun, Director, Banking and Payments System Department, on October 27, 2015, directing it to refund all charges it collected from MDAs for implementation of the TSA.

“I have been directed to inform you that you should refund all charges (1% cost of collection) made into the MDAs accounts as a result of the implementation of the TSA,” the letter reads.

“The total amount should be credited into the account mentioned below:

“FGN Revenue e-Collection Pool Account at the Central Bank of Nigeria Account Number: 0020054161043

“Since the cost of the collection must have been shared by all the stakeholders, you are hereby required to also provide a schedule of the total amount collected and the portion that was shared to each of the three participants. The schedule should be prepared on month by month basis, from the commencement of the TSA implementation in March 2015, to date. We will recover the share to the CBN and the DMBs,” the letter explains.

SystemSpecs explained that after the kick off of the TSA, following a deadline announced by Mr Buhari, the OAGF invited it for a meeting where it was told that following the enlarged scope of the TSA, the government wanted to review the charges.

“We wrote to the CBN to give a brief on the meeting with OAGF and said inter-alia that, while on our part, SystemSpecs is not averse to a review of the existing transaction fee to a figure that is agreeable to all parties, we would however advise of the need to carry along the DMBs as you will recall that the current fees were agreed with the banks and communicated by CBN via a circular in December 2013,” the firm stated in a letter to the CBN governor.
Reduction of cost

In the same letter to the CBN Governor, SystemSpecs further explained that the one per cent charge actually represents a drastic reduction of the amount the Federal Government had to pay for the collection of its revenue before the implementation of the TSA.

“Your Excellency will recall that one of the primary focus of the TSA project is to retrieve funds from the banks who were indirectly lending the government money back to government at about 15%. Hidden cost to government? Arguably 15%.

“Remita provided a technology to empower government retrieve her funds immediately customers pay at Deposit Money Banks. No overnight stay at any bank. Is 1% to be shared by all parties really too high to pay for such a service?”

For instance, the firm explained, banks charge as high as 46 per cent for National Open University (NOUN) charges, nine per cent for Joint Admissions and Matriculation Board (JAMB) fees, and six per cent on Federal Road Safety Commission (FRSC) National Drivers’ License charges.

Thus in its letter to the President, SystemSpecs appealed for the return of its fees and those earned by the partner banks seized by the CBN.

Mr. Muazu corroborated SystemSpecs narratives during the telephone chat with PREMIUM TIMES.

“The information you are given is in line with the agreement dating back to 2011. That is a fact. They started it actually when the TSA came up. The one per cent was, yes, agreed at that time. But now with the issue at hand everything needs to be reviewed and agreed.

“But truly the banks, the CBN and themselves are stakeholders. What is it that we are talking about? It is the software or the platform. You can’t do everything free for doing any business. The banks that are doing the e-collection they pursue agencies and other sources of revenue. Not just taking the value. So it is actually an arrangement for the service to be provided. That software that is being used by the platform has to be maintained apart from the initial design,” he said.

He said the CBN asked SysytemSpecs to return the commission already collected to enable it renegotiate the terms of the contract.

“Now we are having a new arrangement. It’s not just e-collection. Central bank is now in charge of government revenue. So the old arrangement cannot continue. So when the issue started the central bank gave the order and the money were all paid back to the government.

“Look at it this way, you have a product that you are allowing someone to use, it can’t be free,” he said.

Melaye recalled that it was the assembly’s
stand on the alleged TSA fraud that led
SystemSpecs to refund the one per cent it
collected from mopped up funds to Central
Bank of Nigeria (CBN).

Melaye should stop lying, FG had already asked SystemSpec to refund the money pending further investigation or renegotiation on the 27th of october before the uninformed alarm was raised on the 11th of November.

Yes. The change must be a total change not a selective one. APC are just a bunch of criminals, but they will not be given a free hand to cart away our common wealth.

Now BUHARI and Tinubu have turned from hunter to the hunted. This is why we wanted an independent Senate President who would not be a lackey and extension of the NWC of the roguish APC. If Tinubu had gotten his way with the imposition of Lawan and Gbajabiamila as the No 3 and 4 of the nation, these thievery would have been swept under the carpet. Imagine, they even tried to insinuate that System specs is a NOI/GEJ organization. Now we know that Sanusi that bast@rd, was behind the whole charade. This is why they broke tooth and nail to upstage the past administration and rig in this new horrendous good for nothing useless President. God will punish the president, his family, Tinubu, his wife and the entire APC, its members and supporters. Angel Michael will slay every last one of them before next year. Rubbish.

[quote author=Opinedecandid post=40119275]Probe everyone involved.
Probe everything involved.

If need be,
Probe CBN;
Probe all commercial banks involed;

probe President Buhari;
Probe Tinubu;
Probe anyone and everyone responsible.
They promised to regulate global fuel price and make pms available to Nigerians at a very low price


HEY BRO I CAN SEE YOU ARE REALLY TRYING TO HOLD THIS GOVT ACCOUNTBLE WHICH IS A VERY GOOD EFFORT COMING FROM A WAILER AND WAILERS ALIKE.ACCOUNTABILITY WHICH WAS MAJORLY MISSING DURING PDP ERA,EVEN THE ELECTION REVIEW REPORT BY THE PDP CLEARLY ATTESTS TO THAT.HAVE YOU READ THE REPORT?? YOU SHOULD GO TO WADATA FOR THAT.IF PDP HAD FULFILLED HALF OF THOSE NARRATIVES YOU TALKED ABOUT,THEY WOULD HAVE STILL BEEN IN POWER,TRUST NIGERIANS.I WOULD ADVICE YOU TO HELP YOUR PITIFUL CONDITION BY CUTTING DOWN ON YOUR EXCESSIVE WAILING AND EMBRACE CHANGE LIKE A BOO! BUT AS FOR ME,YOUR WAILING IS OUR DELIGHT!
Deal With It Or Die With It!
No Lie Only Truth!

Toothless bulldogs

Opinedecandid:
Probe everyone involved.
Probe everything involved.

If need be,
Probe CBN;
Probe all commercial banks involed;

probe President Buhari;
Probe Tinubu;
Probe anyone and everyone responsible.

Probe all concerned.

Nonsense!

They promised us change,
WE HAVE BEEN SHORT-CHANGED.

They promised us to hit the ground running,
THEY HAVE HIT THE GROUND GROUNDED.

They promised to fight corruption,
THEY ARE NOW AIDING AND ABETING KWORRUPTION.

They promised to regulate global fuel price and make pms available to Nigerians at a very low price,
NOW WE ARE BUYING FUEL ABOVE #200, DESPITE HOW LOW OIL PRICE IS PER BARREL.

They promised to equate naira face-value with a dollar,
NOW A DOLLAR GOES FOR OVER #220.

They promised to pay #5000 to each unemployed youth,
NOW THEY ARE DENYING, EXCUSING AND PROCRASTINATING.

They promised us a better economy,
NOW THE ECONOMY IS IN CAMATOSE.

Lol

Under whose regime did the dollar fall from 156 to 220?

Abeg make una calm down

[quote author=erunz post=40120205] I DID NOT VOTE CHANGE SO IT WON'T AFFECT ME


THOSE THAT DIDNT VOTE PDP WERE NOT AFFECTED BY THEIR RECKLESNESS.KEEP FOOLING No Lie Only Truth!

[quote author=dunkem21 post=40120206]

Shaarraaapppp dia ..



HEY BRO I CAN SEE YOU ARE ALLERGIC TO TRUTH,YOU NEED TO BE FIXED No Lie Only Truth!

Yes i totally support saraki on this. probe tsa thoroughly including buari himself. He want to embessle N25 billion through d back door to pay his debt.

$1 = N230. Please take note.


Buhari is a total failure and must be impeached for Nigeria to move forward.

Opinedecandid:
Probe everyone involved.
Probe everything involved.

If need be,
Probe CBN;
Probe all commercial banks involed;

probe President Buhari;
Probe Tinubu;
Probe anyone and everyone responsible.

Probe all concerned.

Nonsense!

They promised us change,
WE HAVE BEEN SHORT-CHANGED.

They promised us to hit the ground running,
THEY HAVE HIT THE GROUND GROUNDED.

They promised to fight corruption,
THEY ARE NOW AIDING AND ABETING KWORRUPTION.

They promised to regulate global fuel price and make pms available to Nigerians at a very low price,
NOW WE ARE BUYING FUEL ABOVE #200, DESPITE HOW LOW OIL PRICE IS PER BARREL.

They promised to equate naira face-value with a dollar,
NOW A DOLLAR GOES FOR OVER #220.

They promised to pay #5000 to each unemployed youth,
NOW THEY ARE DENYING, EXCUSING AND PROCRASTINATING.

They promised us a better economy,
NOW THE ECONOMY IS IN CAMATOSE.

TCD:
we are tired of all these probe probe probe with no end result. what happened to fuel subsidy probe years ago? farouk lawan is still a free man . All these senator fools know is to shout probe after collecting 'probe' allowance nothing will come out of it at then end of the day.

Nigeria is simply irredeemable