₦airaland Forum

Cut the crap and just stop this your dirty sermon. Na wetin?? Na by force to join una Biafra?? Can't you people fight your own cause alone??! Must you drag others along with you? Haba!

And kindly stop using the name of the late Obong (Major-General) Philip Asuquo Effiong, the Akangkang Ibiono Ibom to justify your half-baked attempt to lure others to support your escapades. Allow him to rest in peace!

mikolo80:
h never defended
dem de pay me?
h Just pointed out
don't step on toes if you no get mouth
fashola deported nobodies, statistics
if they mattered, you and all of biafra would have brought Nigeria to standstill
but dash knows that Patapata you'll make noise online for two weeks Max, you and the deportees don't count
Stella stepped on civil servants toes
well entrenched civil servants Wey Sabi politics pass politicians sef
moral of the comment, de look face before you loot and refuse to share

ROFLMAO!! I don laugh tire... Mikolo80, take yah time, oh! If my Oga sack me for work as I dey laugh so, na your house I dey come!

mickey45:
This might be from pure altruism and political sense of national responsibility as. Lawmaker.
Except these days, when political office holders become whistle-blowers, something is usually likely hiding somewhere.
There are more bogus contracts in the system, let PDP members also come up with deep ones.
That was what the real opposition party of old Nigeria were doing

The name Dino Melaye and the words 'altruism' or 'responsibility' do NOT belong in the same sentence. Do you even know who Dino is?? Please conduct a research on his antics.

mickey45:
Actually not! I was only stating the grounds on which her taking their refunding money to mean culpability might be possible.Apparently my thinking, the refund might just be "damage control" may not fly either.

If I get you, it means prior to the former arrangement where the firm takes it's share before remittance (NNPC style), the FG itself pays them? Is it?

The firm and the commercial banks are entitled to 1% fee on the transactions that go through the Remitta platform. There is nothing in their contract that says it is illegal for the 1% to be deducted at source. Please read through all the comments on this entire thread starting from the beginning to the end, before you chip in.

mickey45:
The so-called 1% as has been mentioned by someone earlier isn't just for the system specs people but for all "clearing houses" involved (they get to have only .005% even though that's not thousands either).
In all, the banks still make their money, just that they don't have access to it for lending.

True!! The 1% transaction fee is meant to be shared between the company and all the existing 26 commercial banks.

mickey45:
And like I said earlier, a contract is a contract. Reviews are possible, but unless a case of wrongdoing can be legally ( and not newspaperly) established, you don't just arbitrarily order a refund.
If they have complied, it might mean either or both of a tacit admission on their part or they just don't want to lose the contract considering the loss it would translate into for them which is pure coercion.

Finally, you saying "this contract is going Down!!!", I hope it's not the El-rufai kind whose "whistleblowings" about NNPc has been rumored to be because he was "denied a piece of the pie"

How is their compliance a tacit admission?? An 'admission' of just what, exactly?? The refund was a presidential order given by Buhari, because he wanted all funds pertaining to the TSA Accounts (including fees), to be placed exclusively in Central Bank. There was no evidence of wrong doing on the part of the company, or on the part of CBN or the commercial banks in this case.

The company bidded for the job to install a payments and collections platform for CBN. Out of all the firms that bidded, this company was selected by World Bank Project Team and CBN as well as the Office of the Accountant-General of the Federation, after a full technical evaluation and commercial review had been conducted.

Did you even read through all the comments made on this entire thread before rushing in to make this specific comment??

mikolo80:
Pls highlight where I defended thievery so I can know which curse on heap on your head

oh you started confessing
I compared not defended
you see how stoopid you look now

LWKMD!! Una no go kill person with laugh for here abeg. So una don dey select 'curse' now for NL??

toluayo93:
Are you really comfortable with the way you are charged with high pride price of worth ranging from 2.5million and above without the wedding yet. and does the first two years of wedlock go well with the couple paying debts. because to me, this money is worth doing better things like at least securing a land for your house or probably investing in a business. what do you guys think. do u love it or have you been suffering in silence
pls speak up

Bia kete, are you Igbo?? Wetin come be yah headache inside this matter??

GudluckIBB:
Don't mind the fat fool, What happened to her matrimonial home? She didn't spend up to 6 months in her husbands house. She even puit to bed in her fathers house

Iresponsible thing

BTW: Why is Adams just realizing this now after 7 years in govt? Adams self no dey try at times

Why the heck are you insulting her?? Did she mention your name in her post? And what is your own business with the status of her marriage?? Are you her husband?

Why is Oshiomhole just waking up from his slumber to make all sorts of funny allegations now?

Recently he said America gave him a list of corrupt people. America denied it. Later he went on rampage against Ngozi Okonjo-Iweala. She took him to the cleaners with her rejoinder. Now, he is picking on Lucky. Only God knows why Iara cannot call her husband to order.

bolabolakemi:
Having separate Biafra, Oduduwa and AREWA nation will solve all these hypocrisy. Stella was persecuted only because she made Enugu international airport Shame for Nigeria

Stop lying! She was prosecuted for buying two cars worth 225 million without budgetary approval.

Goodbye. You will certainly not be missed, and we would get a well-deserved rest from your tribalistic, cantankerous comments. Daalu zi!

TonySpike:
With the conservative estimate you put up there, I would say the cost of website maintenance in Lagos might be higher. Let us assume that this Fashola's website has about 20 pages, that would cost #200,000 per week from your estimate. In four years, this would cost nothing less than #40 million Naira. That's still about #38 million short. Interesting, this is just basic website maintenance analysis though..

The price may even have come down within those 4 years, as technology keeps changing regularly, and new apps are being churned out every day.

petrelli07:
@OP... Let's end this confusion... In Fashola's case, the #78 million may have been a little excessive but let's not forget that this was a four year contract that uploaded videos, pictures and statements of a sitting governor at least twice a week. I am a web developer/programmer and I charge clients in enugu 5k per page for maintenance. Imagine it was Gov. Ugwuanyi I was charging... Again what vindicated fashola was the fact that the contract was budgeted for and passed through due process. In Stella oduah's case, she just woke up one morning and decided to buy bulletproof BMWs.... That's a big no-no in government finance. if it's not budgeted for, don't buy it...

Didn't the company that actually implemented the website come out to say they only charged =N=20 million for the job, or something like that?

westreign:
I fear for this Dino Guy, I hope he doesn't get the Farouk Lawan treatment soon. That is by the way. TSA shouldn't be a drain pipe for some privilege few. Let CBN own the process not one firm that can't even employ it's citizens.

You are asking CBN to own the process?? Who says that they do not currently own it?? The company is merely providing them with a platform, to drive that process. You obviously know nothing about payment processing platforms.

edogirl2:
Contract will be reviewed and if necessary put back out for public bid.

There is no justification for paying 1% of the nation's commonwealth under a scam contract.

Once the investigations are carried, and if the contract if put out for a bid under new and fair terms, if Remita likes it can bid, otherwise it can zap off. It wont be missed.

Enough of stealing is not corruption.

End off.

Was there anything in the contract signed between the company and CBN, that forbids the firm from deducting the 1% transaction fee at source??

I wish you could publish this your silly comment in a newspaper or magazine, so that the company could sue you for libel. (i.e. defamation of name and character in a written form). They would make millions without having to lift a finger!

mindthing:
Remember the 1% income derived is being shared with SystemSpecs by CBN and the banks. It is cheaper and more efficient for all parties to get their share of the income at source. It makes for less transactional charges and fewer accounting entries to split immediately. This was also part of the contractual agreement that had World bank oversight. Besides, there are detailed reports provided by the platform showing exactly how the money is moving. It is why the initial 25bn allegation was quashed very quickly and CBN knew what to expect back, countering Dino Melaye's wild and un-founded assertions.

SystemSpecs wasnt 'caught' and didnt 'rush' to return money. When President Buhari was told about the contractual terms (way before Dino Melaye came out ranting), he ordered the earnings from everyone (not just SystemSpecs) returned and charges suspended for now till re-negotiations are concluded... So FGN has been using Remita to channel revenue to the TSA for weeks now at no charge.

If this is not integrity, i dont know what it is.

Thank you for educating the clueless!! Let us hope it sinks into their brains! At the time CBN started using Remitta in January 2012, no one knew that this APC Govt would come in later to order that the entire TSA accounts from all tiers of govt, MDGs, parastatals etc., would be transferred to CBN. The volume of those transactions alone, is what made the 1% fee appear so huge.

mindthing:
My Response>>>>>>>> Again, not so. There is no other platform offers the combination of features i have listed above ALL ON ONE PLATFORM. Whether people like you like it or not, this country WILL move forward in integrity and technology. You might want to do some research on Remita and SystemSpecs before placing your money on a bet for this prediction you have made.

Leave that backward person that refuses to be educated on the facts. Some people are just too blinded by their own inner bile and myopic view, to see the truth.

Encryption systems alone on some platforms can cost more than the 20 million that she is quoting, and many of them are sourced from foreign companies abroad.

I just wish they had allowed any of the international processing platforms owned by Visa, Mastercard or AM Express, CR2 etc., to carry out this deal. CBN would have first shelled out hundreds of thousands of US dollars for the software, then paid a percentage as annual processing fees, and then still had to provide accommodation in a five-star luxury hotel to shelter the foreign system integrators. Anytime there is a maintenance issue that exceeds the capabilities of the local staff, they would still have to fly in foreign tech experts at a huge cost to rectify the problem.

Abeg, leave matter for Matthias, jare!

edogirl2:
Does what you write up there make sense...even to you?

Money is missing in your house. You call everyone present and threaten to call the police.
Your houseboy goes on his knees saying '...Oga, please dont call Police, I will refund it'

According to you, that is not an admission of guilty.

Some of you people are so corrupt, you have buried your morality.

Receive sense, I beg. Did CBN claim that any money was missing?? Isn't it Dino that is crying wolf over nothing? Even as an individual with an account in a commercial bank, does your bank not charge you COT for any transaction carried out on your account??

All that was said here, was that the company collected a 1% transaction fee, which would be shared between itself and the commercial banks. Did anyone in CBN claim that it had no right to do so? I have told you before, ask a lawyer what constitutes an admission of guilt.

If CBN had asked them to remit the entire amount first instead of deducting the 1% fee at source, because the CBN would still refund the company directly from its own purse later, would they have been justified in still hanging on to the money?? Why do you think all Nigerians are crooks? Is it because your mind is so warped that you cannot see the truth, even when it hits you??

edogirl2:
If it wasn't a scm, why did the CBN confirm today that Remita or its owner company has refunded N8 billion naira. They forgot it in their back pocket before abi?

Abeg so siddon.

You really need to educate yourself. Refunding a fee is NOT equivalent to admission that there is a scam. Ask a lawyer to educate you on what constitutes an admission of guilt. Only a company that values its name & reputation, would remit such funds immediately without any long stories, because it knows its hands and its operations are clean. Are you aware that CBN asked for a refund, in order to present its defence to the Senate and that it would ultimately offset those fees directly?

If CBN does not refund the company, then who loses?? CBN does not get a platform to process its transactions, the banks do not earn their 0.05% share of the transaction fees, while the company also does not earn its fees. What happens at the end of the day?

meforyou1:
me and you agree on remita. Educate yourself more on RTGS.

meforyou1:
you didn't add that RTGS is for high value interbank and third party payments.Which makes it unsuitable for retail payments which is what those collections are. And why the CBN people went for remita.

Thank you for pointing that out, jare. I understand exactly what RTGS is used for, but I didn't want to go into all those long details, so I just focused on the main area pertaining to the post.

edogirl2:
People can say what they like about the existence of a contract bla bla. But that does not change the fact that a new government is entitled to look at what is quite clearly a scam contract.

Op's attempt to conflate personal credit card charges in the US with the TSA charges is nonsense. If the government put out a bid for 0.1% of total collection as charges, many companies, including from abraod will happily bid for the contract, because even at 0.1% fee, it is still a very good contract for doing little.

You supply a one - off software that requires nothing more than a handful of people to keep it going and you want to take 1% of the country's entire domestic earnings. The remaining 170 million people will have to contend with 'just' 99%. The contract is just another example of the wickedness of the PDP/Jonathan administration.

Op can say whatever he likes, but this contract is going down. APC will will review the contract and deal with it accordingly.

And what exactly makes it a scam?? CBN itself knew that its existing systems were inadequate to cope with the activities it wanted to carry out. It invited bids from various companies to implement a new processing platform. The technical evaluation was jointly carried out by World Bank Project team and CBN, before Remitta was eventually selected.

CBN did not contribute a kobo to the setting up of that platform. The company did it at its own cost. The only thing it was entitled to collect was its processing fee of 1% of the cost of the transaction, and that 1% would be shared between that firm and all the commercial banks, which means at the end of the day, it gets only 0.05%.

Part of that fee is for sustaining and maintaining the operations of the platform. So what is so difficult for you to understand in here??

And is it your own lack of understanding that has made you conclude that it is a scam?? Educate yourself, please!! There is no payment processing platform in the world that does not charge a fee for its transactions.