₦airaland Forum

XBLadez:
[s][/s]
Now I had to laugh out loud for real this time around for your useless attempts to type Igbo. Your brother, Jidebaba1 is even better. That one can play it very well if he uses an Igbo moniker. You.....you're just pathetic!

Guy, take it easy. If you don't understand what I wrote, ask nicely so that it can be translated. It is pure Igbo. And I have not seen any other Igbo person coming up here, to say it is NOT! Free your mind and stop hating. You are really getting paranoid!

Atlantian:
Assumption is the mother of all Bleep ups. You think you know, but you know nothing. If you can read and understand English, then pay attention. Cash Concentration, Sweep and debit origination which is the core of TSA is not a stand-alone system, shouldnt be and was only made so in order to perpetuate the fraud. I use these modules on a weekly basis if not daily. These are integrated within the OLBS and functions so. There is NO harware necessary, NOT AT ALL. This is simple clearing modules that are always, in every sane country, integrate and works the the present architecture that the OLBS is on. I understand this is not your competence, and you clearly sound like someone who think he knows, yet there is a limit to what you know. 7 yrs ago, I was where you are now. I have moved up real fast, so keep an open mind.

Eeyah..... you are still persisting in this your fake attempts to draw the wool over everyone's eyes. Guy, this is not about some piece of software resting in outer space, o! You think it is just to write one programme and drop it somewhere in thin air?? What happens at the back end?? What are the devices on which your processing platform is running? How does it interconnect with payment gateways?? Your claims are really laughable.

Both locally and abroad, collection of a percentage of the transaction sum as a fee by payment processing platforms, is a known and accepted practice. Industry standard is 1.5% to 2.5% percent. Even the RTGS platform which CBN uses for 3rd party settlement which was installed and maintained by a foreign firm, is not being done for $2 dollar monthly.

adconline:
Giving away sophisticated idiocy since 1960.. So Dr Kolade unknowingly accepted to become a chairman of a coy he barely knows? If this company is found culpable that Kolade is going to be exonerated?? So someone like Kolade, former MD of Cadbury, doesnt have any stake in a company for him to be made chairman Naija is toast with this type of mentality!!

Hehehe.... I no know say you sef, see am!! And with all the corporate governance issues that directors of a board are expected to fulfil in accordance with the law, someone is still coming up to say Kolade has no idea of what goes on in a company under his watch. Tomorrow, they will say he has no shares in it, sef.

We are watching to see how this drama will end in 3D.

Atlantian:
You do not make sense when it comes to running a payment processing platform. It is not a stand-alone system, it is an on-demand integrated module to the present OLB platform, an integral turnkey system to the present online banking platform, it doesnt require any extra hardware, so if you are ignorant of what I am talking about, be mute. This is my field, not some market ware.

Neither do you make sense in your assertions, sir. A payment processing platform does not require any hardware?? Chai! You are kidding me, right?? Ok, I guess the one you designed does not run on servers, and does not also need security solutions, encryption, authentication modules, network interconnectivity, switches, availability of power etc., to function! It would be interesting to see it, o!

Atlantian:
Every Central Banks in this world have automated originating softwares that aggregates and concentrates finances from any banks or finance houses to any receiving depository financial institution destination account. The sweep account by banks dont bill based on percentage of inflow but on a fix charge of say $2 monthly irrespective of how much is transacted. This is not taxation, but just service charge. This is what you get when you make a Graduate of Islamic Studies a CBN Governor and an Illiterate Cattle rearer your President. How can a CBN, and in fact Sanusi approve charges to be % of accruing inflow. Someone decided to outsource cash concentration to a third party company called Remita.

Truth is, Sanusi has a share of the charges by Remitta, and in fact every stakeholder in remita is guilty and should be sent to prison. This is systemic fraud. You cant rule a country with common sense.

Facts are sacred, comments are free. Provide incontrovertible proof that Sanusi has a share of the 1% transaction fee, and the stakeholders in Remita are guilty of some kind of offence, instead of wallowing in gossip, conjecture and falsehood! In your world, $2 monthly is enough to cover the operational costs of running a payment processing platform with 99.9% uptime that would handle such massive transfer of funds, on a daily basis.

One word of advice: don't try to run a payment processing platform using your logic. It would crash in 3 months, or less!!

emmasege:
Amin oooo because he seems to be the only voice courageous enough to speak up against this Buharicratic government.

The same misplaced courage that led Oshiomhole to claim that America gave a list of fraudulent public officials to PMB, and the same America came forward to deny it sharp-sharp, leaving Oshiomhole looking like a fool. That same misguided courage is causing Fayose to make all sorts of blunders!!

BERNIMOORE:
N25 billion fee in a day multiplied by 30 days=750Billion a month from may to october(6months) [size=14pt]Whaaat?[/size] the APC has finished this country,thanks to melaye and fayose oo. why are they panickly returning 8Billion, is too infinitestimal pls do the needful

To whom brain is given, common sense is expected. Read through all the posts on this thread and try to Google the facts. The entire TSA account is not even up to 2.5 trillion, and 25 billion was NOT earned as fees, in one day.

But in a clueless, gullible fashion, you failed to understand that and multiplied it by 30 days after swallowing that fraudulent Dino Melaye's deceit. Chai!! Why are some people so backward?? And yet, they will claim they went to school!

Chigorkizz:
if Remitta is a software,Why not allowed a registered bank to acquire the software
No bank is mentioned here.The gullible ones are always fools

Kai!! Bros, your knowledge of the banking industry, and what constitutes a payment processing platform is low, o! Anyway, thanks for telling us that you are not just gullible, but also one of the f00ls!

Brooklynsouth:
chai I noticed SS is miSsing in the regions u mentioned that means we have conquered that notion that ss is not part of biafra next is abuja and u ll come out to say that abuja is only the capital and can never happen kano or lagos

Haba!! Why do you like jumping from pillar to post?? You just want to insert SS into this conversation when it was not part of my previous comment?? Oya, have the floor and perambulate in your chest-beating, since that is what turns you on!

Brooklynsouth:
but you quickly believed when u heard sanusi said 20 billion was missing hypocrisy @ its peak

Nah.... you are the only hypocrite here who is good at jumping to wrong conclusions. Please cite the post I made, where I told you that I believed Sanusi's allegation of 20 billion. Am waiting.

fx45:
What about our $20b? Is it also missing?

Which 20 billion?? Go and find out ....

ovugoo:
even if Remitta is over 23 years in existence, there no APC top level stakeholders today that is less than 50yrs. So being in existence for over 23yrs does not absolve APC henchmen of vested interest in Remitta. They have been harloting from on party to the other. So APC is just a new bottle with old wine.

You guys thrive on conjecture and gossip. Please provide proof that APC henchmen have vested interest in the company that owns Remita.

XBLadez:
[s]It will never be well with you and your entire tribe! Oblong-headed Yorroba bastard! The watery blood of cowardice runs in your veins so I'm not surprised. Swear with your father's grave and your dying mother's bed that the Igbo you posted is not google translate. A lot of other people too have confirmed that you're delusional. Keep basking in the euphoria of your stupidity! Anuofia nwuru anwu!

Chai!! This matter don pain you enter bone! No be small!! Eeyah....I do hope you know that those curses you uttered with such relish, will go back on your head, sharp-sharp! I have asked you to provide evidence to show that Laudate is Yoruba. Till now, you are unable to do so! Yet you keep flinging baseless accusations around. What a pity. Don't let the bile in your soul kill you, o! You have frothed at the mouth, long enough.

Haba, but why are you talking about swearing using your father's grave and your mother's dying bed?? Are you a ritualist or a cultist, that you would use such things to swear?? Tufiakwa!!

Anyway, I don't need to swear. All I know is that the Igbo phrases I wrote, did not come from Google translate! Why are you even so paranoid about this issue, biko?? Stop hating. Ịkpō ̣mmadù ̣ibē ānyị asì ḅù ̣ǹjọ !

christinie:
seun, lalastica, obinoscopy please hurry up and take this hateful mind out of Nairaland before he pollutes the peaceful air we have around here.

Imagine him accusing you of taking sides with a certain tribe.

Please hurry up before he edits his posts; he's very good at that.

I feel sorry for you, o! Chai!! Continue playing the victim. It suits you! You just registered on NL five months ago, and you are behaving like this. How old did you say you were, again??

christinie:
Lalasticla, seun, obinoscopy please investigate this devil.

He even accused you guys of beingn biased.

See this hypocritical otimkpu! smh...

pasol4real:
You are the One who is stupid for defending a clear cut biased n prejudiced comment.
Any reasonable n unbiased Person wud detect the prejudice in that comment from the beginning ,when she called John obaro an igbo man .
John obaro is not igbo but urhobo.

Urhobo??!! Chai! Another fallacy!

razid:
Imagine @ the bolded! If it's a bloody software you can as well ask CBN to go and buy it in Computer Village Ikeja now. Do you know that Facebook is just a bloody web application that is worth more than $250bn? Do you know how much Facebook paid for common Whatsapp? They have to cough out cool $17bn. It's like asking CBN to buy eTranzact, Interswitch, MasterCard, etc payment gateways.

If the CBN had paid like $1bn for the software, all of you would have crucified them for such transaction. Do you think that software will only be used in Nigeria? It's this kind of mentality that is killing Nigeria tech industry. It's because they are black men, that is why you think 1% is too much. I'm pretty sure that if the Remita was supplied by say Microsoft or Google, you won't be talking like this. Let's face business and forget about politics for once.

Don't mind the twerps!! CBN did not pay a kobo for the design, set-up, installation and operation of Remita platform. The company that owns it has been in existence for 23 years, and has been developing different solutions over the past 10 years.

Honestly, I wish this TSA business had been conducted using an international/foreign payment processing platform, so that they would know the difference. First, CBN would have paid some heavy dollars upfront. Then they would pay to lodge the expatriate technical staff in one 5-star hotel, throughout the entire project period. Then they would still cough up the transaction fee, upfront as they go along on a daily basis.

We like cheating ourselves in this country. Even when you keep your money in your bank account, will the bank not charge you COT?? Meanwhile, this 1% fee is still going to be shared between CBN, the commercial banks and the firm handling the Remita platform, o!

theV0ice:
welcome my friend

There's nothing corrupt about SYSTEMSPECS getting paid for developing REMITA to assist CBN in achieving transparency through TSA.

The joke is on the guys claiming 'fraud' and putting it on PMB. It was signed under Sanusi amd GEJ and the owners are from your tribe and my tribe so agabaI23 and theV0ice have cases to answer

I know how much my former bank paid INFOSYS of India to get us on FINACLE and i know how much my current company is paying for using the SAP software.

If the senate doesn't want CBN to pay that sum, then CBN should put it's in-house IT gurus to task to develop their own

How you dey my brother?

Thank God for another voice of reason! I was beginning to think most of our guys on NL lack the capacity for rational thought. May God bless you.... Nobody is even asking how much CBN paid for the set-up of RTGS its 3rd party settlement platform and how much it still pays annually as maintenance fee. That platform was installed by a foreign company and is still being handled by them, o!

christinie:
#obinoscopy and #lalasticlala please do the needful. This "devilish" of a guy is instigating tribal war.

Don't be funny. You did not see your people like XBLadez inciting hate and launching ad hominem attacks against others on this platform, with his vitriol?

turboG:
AlphaBeta Can collect 5% because the work involve is NOT just collection application. They have staff they deploy all around the state and also involve in some other issue. The reason why SYSTEM spec is having this lashing is as result of their GREEDINESS with CBN shutting out other payment Gateways like interswitch, etranzact, NIBSS etc in this scheme. TSA collection should NOT have involve direct collection from the customer end to the CBN. They are suppose to develop a system that will make it easy for Bank remit the fund with them into TSA account. But rather they connive with their cronies in CBN and now engage in direct transaction and killing other competitors business because of their greediness.

Guy, you are funny o! Where did you get this patent falsehood that you are reciting with such confidence?? Do you know how many companies bidded for the job?? At the end of the day, the World Bank Project Team, with CBN and the Office of the Accountant-General of the Federation (OAGF) conducted a technical evaluation, and made the selection. Even NIBSS applied for the job, but did not scale the technical evaluation. At the point of selection, the Accountant-General insisted that it should be dropped to 1%, instead of the 5% that the commercial banks had been pressing for! So where is your assertion of greed coming from??

And the 1% is not solely going into the pockets of the company that operates Remita, it is going to be shared between CBN, the commercial banks and the firm, in various ratios. Last time I checked, there were 26 commercial banks in the country.

All over the world, payment processing platforms charge a fee, for routing funds into an account. Industry standard is between 1.5% to 2.5% of the total sum.

adconline:
Don't mind them.. Naija always offering ignorant opinion from dungeon of their uninformed mindset. Global best practices: payment solutions provides like PayPal, advantage, square, first data etc all charge processing fee by percentage.. If the company over-charged FG, then it must refund and be dealt with.. Hating private enterprise isn't going to get us somewhere..

Finally!! Someone with an understanding of the business and a good dose of common sense, has spoken! I was beginning to give up, based on the mindset of people on NL. People believe that when you are offering services to govt, it should be free or it should be done at a ridiculous rate, because public funds are being used. The same govt where funds are being diverted on a regular basis by politicians, and their people keep resisting compliance instructions to do the right thing!

For the first time, the loopholes are being blocked using a technology-based platform to route all the TSA funds into one single CBN account, and people are complaining that 1% is too much, without seeing all the other advantages of the system.

If the govt is not pleased with the 1% fee, why can't it be re-negotiated instead of blackmailing and vilifying the owners of the platform??

chx79:
U guys are not getting the gist at all..The main bone of contention here is that the CBN as the paramount financial institute of 9ja is the one with the sole responsibility to receive or disburse federal fund..where the CBN is too occupied to do that ..it then releases the power to a commercial bank not a "NON GOVERNMENTAL AGENCY REMITA"..even if 25billion is small compared to 2.5trillion but fellas u must agree with me that with the current shape of our social amenities ..hmmm.. ...nigeria need that 25billion ooo...even if na one small road project..so call a spade a spade..its a fraudulent transaction under PMB'S WATCH JUST LIKE THE 25BILLION PTF FUND...fasten your seat belts Nigerians.. ;Dmore to unfold with time...

Are you for real??! Who on earth told you that Remita is a non-governmental agency?? And who told you that it is a collection agency?? Please do a bit of research. Remita is a payment processing platform, through which the CBN routes funds from third parties, into its own accounts, and vice versa. In this case, the 1% transaction fee is to be shared between CBN, the commercial banks and the company that handles the Remita platform.

Most payment processing platforms like Interswitch, Mastercard, Visa International, AM Express etc., charge a percentage of a transaction as a processing fee. It is industry standard. What is fraudulent about this?? Do you know the cost of installing, operating and maintaining a processing platform along with the hardware devices, security solutions, interconnectivity backhaul, network connections, etc.??

Guy, educate yourself please!

edogirl2:
The company is owned by John Obaro and Ernest Ndokwe, two Igbo men, and the only reason this corrupt arrangement is in place is because the then Minister of Finance, was Igbo. Central Bank Governor, Igbo. Then Secretary to the Federal Government, Igbo. Then add the utterly confused and ignorant President.

But Igbos would want us to believe that Yorubas and Hausas are solely responsible for ruining this country! How can you put 1% of the entire evenue of a country to a single company, and the remaining 170 million people get to share 99%. For what? This is a company that simply provides a one-off software, that you can buy for less than $100,000 (N20 million) and can be maintained by less than 30 people. Yet, they are carting away with N50 Billion naira.

It is part of the Jonathan legacy of corruption. Just imagine that Jonathan won, this nonsense of contract will have continued for years to come.

I confirm that Chief Kolade is Chairman and not a shareholder in this company. Companies who seek government contracst often put 'highly respected' members of the company as paid Chairman of their company. The That is why ex President Gowon is Chairman of several companies but he is not the owner of these companies. They just use these men/women as the public face of the companies. Other than Mr Obara and Ndokwe, the other directors listed by the Op are all employees of the company, not shareholders.

Did you actually go to school and were you taught the rudiments of verifying facts before regurgitating them??

Because if you actually know what it means to conduct research, you would have discovered the following:

1). John Obaro is not Igbo.

2). The 1% transaction fee is being shared between the company, the CBN and all the commercial banks.

3). The whole project was thrown open to a commercial bid, and different firms submitted bids, while at the end of the day the World Bank Project team, the CBN and the Office of the Accountant-General of the Federation (OAGF) conducted a technical evaluation and made the selection. All over the world, payment processing platforms charge a fee, for routing funds into an account. Industry standard is between 1.5% to 2.5%. At the end of the day, the Accountant-General insisted that it should be dropped to 1%.

4). Banks have been keeping public funds in their coffers in the past, and will then turn round to lend govt the same money at 15% interest. And that is after holding on to such money for 90 days. The new system eliminates that.

5). The 1% transaction fee is NOT 25 billion as was alleged, but 8.6 billion.

You can get more info from these links: http://pwcnigeria.typepad.com/tax_matters_nigeria/2015/10/what-does-the-new-single-treasury-account-hold-for-tax-.html?utm_source=Mondaq&utm_medium=syndication&utm_campaign=View-Original

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

Now, if you had made Google your friend and had conducted your research before coming here to yarn your stories, then you would not have exposed your ignorance to the entire world.

Sarahluv3:
I want to use this opportunity to thank all nairalanders for their care and suport during the search for my father from my previous topic here on nairaland.

on wednessday i created a topic here looking for my father. After receiving so many calls from well wishers and advicers I finaly got 1 call around 11.00pm from my father's brother that my uncle, he said i saw my story and he was just going through it, to his bigest suprise he saw his brother's picture that is my father.

i was very happy i have never been this excited in my life before.

Thnkz to all nairalanders who showed support anf care.

My dearest friend dapaiks who introduced me to nairaland and made the search possible.

seun the founder of nairaland.
lalaticala
Mod
and those i forgot to mention
Thnk u all may God bless you.
Ameen

Which previous story is this?? Where is the link?? And how did you verify that the man in question is your real father? Una do DNA test??

lagmostkuit:
Just like that?
When no be nollywood movie I dey watch!

You only got a call, you've not even set your eyes on the "father" and you're creating a thread!

Confirm if you've truly found your father then I can join you in celebrating!

God bless you!! E be like say you dey inside my mind! Na di same question wey I wan ask be dat!

But where is Segun Awolowo's wife inside the whole picture?? Abi, no be wedding anniversary them dey celebrate??

naijaking1:
I can't believe my eyes!
Are you not the fake corruption crusader cheering Sanusi stealing people's banks in the name of corruption?
Are you not one of the rumor peddlers and dont-waste-time prosecuting her vigilante that attacked Oduah for buying bulletproof cars for our nation's use at the airports? Now you really want Fasoye to produce proof, something you never bothered to ask for all these years.
Your reversible positions on such day-night issues as corruption means that you really have no principles as a human being, and and as a Nigerian.
Shame on you, you're a curse to your country or any group you tend to represent.

Bros, you can lie, o!! And you mean some folks actually stooped so low as to click 'likes' in support of your falsehood?? Please can you cite the source of these your stories up here, so that everyone can read and verify?? Where was I cheering Sanusi for stealing people's funds, in the name of corruption??

And where did I prosecute those that attacked Oduah for buying bulletproof cars??

Are you sure you read any of my previous posts on other threads with understanding and comprehension?? Ọ bù ̣ife ọjọō ̣ịgbā àma ūg̣ha ! Bearing false witness is a bad thing, o!! Kindly substantiate your allegations! You appear to be the one that tells bold-faced lies without any qualms, in order to indulge your propensity for deceit! Honestly, you lack integrity!!

Please know that any curses you utter will backfire and go back on your head. Without any delay!!

aresa:
Is TSA male or female?

These illiterates villagers no go kill pesin I swear...

Ah Egbon, I no know say you sef see am!

henrysam:
Like the 20b dollars you all shouted about during. PDP era.
We continue to deceive ourselves in this country.
At least the issue of 25b was raised by APC senator not Fayose
We are all in it together

Ah, this drama is getting interesting, o! Are you referring to the same 20 billion that Sanusi spoke about in the NNPC saga, which he then had to review the amount almost 3 times??

Guy, why can't that fraudulent APC senator Dino Melaye (who is still unable to account for the source of his flamboyant lifestyle), raise issues based on the facts and the truth? Have you forgotten the way Oshiomhole cried wolf about how America gave a list of corrupt public officials to PMB, only for the same America to turn round to deny it??

Okanokan:
The CBN Act, specifically mentioned that only Banks can carry out the contract of remittance, is Systemspec that owned the Remita platform a bank? and if it is not a bank was the CBN Act amended? Or is it not breach to act outside the provision of the Act? Maybe you will call it administrative breach.

Which part of the CBN Act?? Can you kindly cite the reference?? What the CBN Act refers to is the collection, and not remittance. Remita is a processing platform, and not a remittance agency or a collection agent, o! Please understand the difference, o!

biafranqueen:
http://www.vanguardngr.com/2015/09/tsa-banks-move-n1-2-trn-to-cbn/

About 1.2 trillion Naira, or 10 per cent of banking sector deposits, is expected to be transferred to the government account with the Central Bank in the course of implementing the TSA policy. This was in September.

Deposit Money Banks (DMBs) have so far moved an estimated N2 trillion, out of the[b] N3.5 trillion public sector funds in their vaults [/b]to the Central Bank of Nigeria (CBN), it was learnt yesterday.

This is in line with the Treasury Single Account (TSA) policy of the Federal Government, which is meant to improve transparency and accountability in the management of revenue.

A major money market operator said there had been no report of violations from the banks, except for some Ministries, Departments and Agencies (MDAs), where some are yet to comply with the TSA deadline which ended on Tuesday.

It was not in a single transaction SIR

Managing Director, Meristem Securities Limited, Sulaiman Adedokun, said some of the banks which did not have the needed liquidity to move the funds immediately had to sell-off their liquid instruments like Treasury Bills and Federal Government bonds to get the needed cash in the transaction.
He said the CBN is working out measures to cushion the negative impact the movement of the funds will have on banks’ balance sheets and amount of cash available for lending. This, he said, is based on the regulator’s new policy promoting growth and development of the economy.

Madam, can you cite your source for this info?? Because the person saying that 3.5 trillion was moved, and there were no reports of violations by the banks, needs to tell us why Skye bank was fined for failing to meet the deadline for moving the TSA Account in its coffers to CBN. Kindly read this:

TSA: CBN Fines Skye Bank N4bn for Concealing MDAs' Funds | ThisDay Newspapers | by Tokunbo Adedoja

Less than two weeks after it sanctioned two major banks for flouting Federal Government directives on Treasury Single Account, the Central Bank of Nigeria (CBN) has imposed a fine of N4 billion on Skye Bank for concealing funds belonging to Ministries, Departments and Agencies (MDAs).

In a circular from CBN, addressed to the Chairman, Board of Directors of Skye Bank, the apex bank slapped Skye Bank with a fine of N4,005,228,976.35, which it said represents 10 percent of the concealed funds belonging to Federal Government MDAs.
The circular said the amount would be debited from Skye Bank’s current account with CBN.

The CBN circular obtained by THISDAY from industry sources, showed that Skye Bank failed to report MDAs’ balances amounting to N40,052,289,769.47, as at October 23, 2015, more than a month after the TSA deadline had expired.

The Federal Government had directed that balances/receipts due to the government or its agencies be paid into a TSA domiciled in the CBN except otherwise expressly approved. The TSA is a bank account or a set of linked bank accounts through which the government transacts all its receipts and payments and gets a consolidated view of its cash position at any given time. A September 15 deadline was given for full compliance with the directive.

CBN's hammer had earlier fallen on two major banks - First Bank of Nigeria Limited (FirstBank) and United Bank for Africa (UBA) Plc for failing to comply with the directive on TSA. While a fine of N1,877,409,905.12 was imposed on FirstBank, UBA was fined N2,942,189,651.45. http://www.thisdaylive.com/articles/tsa-cbn-fines-skye-bank-n4bn-for-concealing-mdas-funds/225038/

biafranqueen:
Post where TSA said that

Madam, TSA is not a person. You need to be more explicit. Kindly clarify what you mean. Thanks.

Okanokan:
Go and read the CBN Act and you will see where Nigerians are coming from. Pls go through my post on the issue to see if i lack the knowledge. However, CBN said REMITA has returned 8.6 Billion, if Nigerians didn't complain the money would have entered one chance, and as an afterthought CBN is saying the 1% is too high.

Guy, you are really gullible, o! CBN has come out to clarify quite clearly that Remitta is just a processing platform through which funds are routed into CBN account, and they are not a collection agency or a bank. And you are still here talking about CBN Act. Okay, which portion exactly of the CBN Act, are you talking about? Kindly clarify.

Are you even aware that the commercial banks wanted to collect a 5% transaction fee??! But this was negotiated down to 1% by the Accountant-General of the Federation, and they were ordered to split the 1% fee?

Why are Nigerians so eager to swallow lies, half-truth and false stories, for goodness sake??! Anyway, I leave you to continue believing the deceit that fraudulent Melaye and Fayose are spewing out.

The rest of us are waiting to see how this story will end...hehehe...

biafranqueen:
Go read what I added and stop co-signing corruption.
That is too much for one transaction yes or no?

Madam, you are the one endorsing corrupted stories, and ignorance!! And you have refused to educate yourself! The entire TSA account is not up to 2.5 trillion. Now you have said 1.5 trillion. If the amount collected is not up to 2.5 trillion, how could 25 billion have been charged as 1% transaction fee??

CBN itself has issued a statement, on the matter saying that the 1% fee is to be shared between CBN, the commercial banks and the firm. Last time I checked, there were 26 commercial banks in this country. Why on earth are people so ready to swallow any false assertion made by any governor, senator or public official??

It reminds me of when Oshiomhole was making noise that America gave a list of fraudulent Nigerian public officials to PMB. America came out to deny it, sharp-sharp! Who ended up looking like the 'mugu'?? Oshiomhole and his supporters. Fayose and that fraudulent senator Dino Melaye, are the ones building a case on inaccuracy and falsehood. We are watching how the matter will end in 3D.

biafranqueen:
http://www.vanguardngr.com/2015/09/tsa-banks-move-n1-2-trn-to-cbn/

About 1.2 trillion Naira, or 10 per cent of banking sector deposits, is expected to be transferred to the government account with the Central Bank in the course of implementing the TSA policy. This was in September.

Continue, you are getting there....

It is obvious that you are gradually moving away from the false 2.5 trillion figure, that was being bandied about earlier.