₦airaland Forum

Wow! Beautiful woman indeed

#presidentabbakyari

until this man gets out of there, we will continue to have this rubbish!

He knows how they normally do it

lightblazingnow:
https://www.vanguardngr.com/2017/10/26bn-contract-funds-buhari-2019-campaign-fani-kayode/amp/

I want to be like this man

http://www.nerdc.org.ng/eCurriculum/CurriculumStructure.aspx

Check out the New Curriculum.

I think some people are just creating confusion.

To me all CRS and IS are all merged with others as Religion and National Values (RNV) and separate classes will run for Christians and Muslims

Lets avoid causing religious sentiments and tension please.

I dont think it means CRS is removed!

even the Arabic language is optional. Mind you Arabic language existed long before Islamic religion. There are millions of Arab christians.

i LOVE THIS!

We need fathers today

So easy of you will not understand...my friend is Chibok this is real

buy at www.remita.net

first get RRR at www.jamb.org.ng/efacility

Nigerians will do well to imbibe this notions

nigerians will do well to imbibe this notions

cabal go dey tell us president said this or that... how can we be sure he is the one givin directives

Gerara of here! I never touch my wife till we married and I know many others who have done so also.
The moral failure of the world cannot rewrite the Word.

Besides you save your self many troubles and reap peace and blessing if you abstain before marriage.

Proverbs 6:23 For the commandment is a lamp; and the law is light; and reproofs of instruction are the way of life: 6:24 To keep thee from the evil woman, from the flattery of the tongue of a strange woman. 6:25 Lust not after her beauty in thine heart; neither let her take thee with her eyelids. 6:26 For by means of a whorish woman a man is brought to a piece of bread: and the adulteress will hunt for the precious life. 6:27 Can a man take fire in his bosom, and his clothes not be burned? 6:28 Can one go upon hot coals, and his feet not be burned? 6:31 But if he be found, he shall restore sevenfold; he shall give all the substance of his house. 6:32 But whoso committeth adultery with a woman lacketh understanding: he that doeth it destroyeth his own soul.

REMITA GATEWAY HAS JUST SAVED THIS SCHOOL FROM LEAKAGES FROM CORRUPTION...
Remita RRR can not be faked...! Hehehehe!

They news would have safe the hotel loss of customers by keeping the name undisclosed. I will never lodge there o!

Hehehehe...godfather Atiku! He will recover every dime and more!

I WAS ONLY WONDERING...I HOPE DINO DID NOT RAISE THIS ALLEGATIONS LIKE MOST POLITICIANS DO BECAUSE THEY DONT HAVE A CUT IN THE DEAL OR TO GET BACK AT SOMEONE THEY THINK IS BENEFITING FROM THE DEAL... WELL I THINK I SHOULD TRUST SEN. DINO ONLY THAT HE SHOULD HAVE CROSS-CHECKED FACTS THAT'S MY POINT FROM DAY ONE!

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.

Fayose Another Dullard is talking...pls people facts about the TSA is not far fetched go to oagf.gov.ng or cbn.gov.ng at least fayose should have asked his obviously more intelligent aides to help him cross check facts before running his mouth.

It is not any one politician or public office holder past or present
it is the public service sector public officers and civil servants in govt Ministeries, Departments and Agencies
according to accountant general MDAs failed to remit whooping 4trillion...

http://www.thisdaylive.com/articles/auditor-general-indicts-mdas-over-non-remittance-of-n4tn/131196/

whereas we are concerned about catching one big thief millions and billions meant do deliver service & infrastructure are looted daily from the national treasury in the about 600 MDAs...
How do they loot this funds do it? In many ways...we shall look at them subsequently
sanitize the public service sector and you will clean Nigeria... in fact they are they ones that teach the policians how to steal...

It is not any one politician or public office holder past or present
it is the public service sector public officers and civil servants in govt Ministeries, Departments and Agencies
according to accountant general MDAs failed to remit whooping 4trillion...

http://www.thisdaylive.com/articles/auditor-general-indicts-mdas-over-non-remittance-of-n4tn/131196/

whereas we are concerned about catching one big thief millions and billions meant do deliver service & infrastructure are looted daily from the national treasury in the about 600 MDAs...
How do they loot this funds do it? In many ways...we shall look at them subsequently
sanitize the public service sector and you will clean Nigeria... in fact they are they ones that teach the policians how to steal...

obailala:
The company provides financial services and they get paid a commission for their services. FG contracted them (in 2012) to undertake the TSA remittance from all banks to the CBN. In a couple of months, they handled the transfer of some trillions of Naira to the CBN and they got paid their commission as agreed in the contract. The real question is, "why did the FG in 2012 give out this contract to an independent company?... Why didn't the CBN handle the contract themselves?"

On this issue, both the FG under GEJ (who signed the contract with this company) and the FG under PMB (who rushed to implement the TSA without spotting this anomaly), both administrations have question to answer on this. I dont think the company involved has done anything wrong, going by the reports so far.

Good! but get it CBN cannot do it by themselves banks dont develop software applications...software companies do this and the contract it out to banks...Quickteller, Paydirect, Mastercard, Verve, Etranzt, Vogue pay and etc are all developed for Banks and these company charge on each transaction fee made...CBN will have to contract it out this is global standard. there was a selection process many companies such as interswitch, oracle, NIBISS, Alpha Beta came forth with their proposition Remita was well suited and therefore selected!

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.

keep quite you dont know anything Mr Obaro is from Kogi!

nobeku:
Your write-up is TOTAL NONSENSE.. You failed.. Who is that other ignoramus quoting you and supporting you.. Chai, Nigerians generally no Sabi book.. Remitta is just a bloody SOFTWARE for starters.. NOT A COMPANY OR FIRM... Jonathan and NOI did Not.. NEVER started TSA.. it's in the spirit of the constitution... Section 80(1) of 1999 as amended... Where did you get all these your sharing formula permutations... Hahahahahahahahahahahahahahahahaha...Guy when you are ready to learn, it will be obvious... Many are read, few are UNDERSTANDING!!!!!

PLEASE IT IS REMITA not remitta it is a Web based software, owned by a company called Systemspecs Ltd based in Lagos, GIFMIS is the first leg of the TSA started in 2012 over 550 MDAs are already on the platform the collection leg began in April 2015, effectively September 2015 at the order of PMB. I can teach you more...

TSA is the initiative of GEJ/NOI as part of public finance mgt Reforms..like IPPIS, IPSAS etc
-The scheme was to entrenched transparency and accountability
-TSA ideal is to help govt reduce cost of borrowing, stop leakages,corruption, have have oversight over its cash resources,avoid losing its fund in failed Banks and Rake in more revenues
-it is to cover all govt payments and collections and all MDAs are to be involved including NNPC
-To achieve this MDAs accounts in DMBs will be moved to CBN
-the practicability ,CBN decided to key the TSA along her cashless policy (e-payment vision 2020) meaning instead of doing retail banking, they ll deploy and electronic platform to facilitate both payment form the TSA accounts in CBN, to beneficiaries, and collections also from payers direct to TSA in CBN. (the implication less leakages as monies from payers go straight to CBN, instead of account in commercials banks)
-Banks are collecting agents now, you pay through Remita in Banks and it is posted straight thru Remita in CBN, money doesnt stay in Bank one day.
-After a rigorous selection process CBN selected Remita an indigenous e-payment software offered as SaaS to facilitate the TSA
- contract was signed for 1%, Banks wanted 5% to be charged because of float, but govt agreed on 1%, MOU was duly signed and contract implemented note global standard for such service is 1%-4% govt beat it lowest 1%.
-TSA project has been in implementation since 2012, however MDAs, Banks,where not comfortable with it because it will not allow them to continue to do business as usual, steal govt money and using it for business etc.
-other e-payment providers competing with Remita also not happy they think Remita is monopoly
-The thought Buhari will throw away TSA so that it will continue to be 'business as usual' looting and wasting Nigeria resources
-to their surprise he decided to continue with the TSA initiative
-Corruption is fighting back the want to scatter the arrangement...using the ignorant Senator Melaye who will not investigate before he begins running his mouth in public
-they think remita is making so much money...from the 1%, however they dont know that the 1% is shared btw CBN, the banks and Remita sharing formula is CBN 10%, Bank 40% and Remita 40%
- The dont realize massive IT infrastructure and cost is deployed to make Remita work..will Remita a private company run TSA for govt for free?

WE NEED TO KNOW
-TSA is the initiative of GEJ/NOI as part of public finance mgt Reforms..like IPPIS, IPSAS etc
-The scheme was to entrenched transparency and accountability
-TSA ideal is to help govt reduce cost of borrowing, stop leakages,corruption, have have oversight over its cash resources,avoid losing its fund in failed Banks and Rake in more revenues
-it is to cover all govt payments and collections and all MDAs are to be involved including NNPC
-To achieve this MDAs accounts in DMBs will be moved to CBN
-the practicability ,CBN decided to key the TSA along her cashless policy (e-payment vision 2020) meaning instead of doing retail banking, they ll deploy and electronic platform to facilitate both payment form the TSA accounts in CBN, to beneficiaries, and collections also from payers direct to TSA in CBN. (the implication less leakages as monies from payers go straight to CBN, instead of account in commercials banks)
-Banks are collecting agents now, you pay through Remita in Banks and it is posted straight thru Remita in CBN, money doesnt stay in Bank one day.
-After a rigorous selection process CBN selected Remita an indigenous e-payment software offered as SaaS to facilitate the TSA
- contract was signed for 1%, Banks wanted 5% to be charged because of float, but govt agreed on 1%, MOU was duly signed and contract implemented note global standard for such service is 1%-4% govt beat it lowest 1%.
-TSA project has been in implementation since 2012, however MDAs, Banks,where not comfortable with it because it will not allow them to continue to do business as usual, steal govt money and using it for business etc.
-other e-payment providers competing with Remita also not happy they think Remita is monopoly
-The thought Buhari will throw away TSA so that it will continue to be 'business as usual' looting and wasting Nigeria resources
-to their surprise he decided to continue with the TSA initiative
-Corruption is fighting back the want to scatter the arrangement...using the ignorant Senator Melaye who will not investigate before he begins running his mouth in public
-they think remita is making so much money...from the 1%, however they dont know that the 1% is shared btw CBN, the banks and Remita sharing formula is CBN 10%, Bank 40% and Remita 40%
- The dont realize massive IT infrastructure and cost is deployed to make Remita work..will Remita a private company run TSA for govt for free?

Yes O! JONA you are only desperate to protect your seat and all the financial and economics atrocities you have wrought in the last six years. But not to serve.