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President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister - Politics (3) - Nairaland

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Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by ExInferis(m): 11:57am On Nov 18, 2015
lordofjustice:
Yes, the previous administration signed the agreement and that administration is implicated in this case but this present government that implemented the TSA without review equally has questions to answer.

GEJ tenure employed some people in DSS which was later disregarded by this same administration. There have been probes upon probes , reviews upon reviews on some actions and inactions of past administration including the current Col Dasuki arm purchase; so the question is: What stopped PMB to review this TSA as he has been probing and reviewing others before going ahead to implement. PMB administration is implicated too.

This is much ado about nothing. The roughly 2 trillion so far recovered were in danger of disappearing, and spending just 1% to recover 99% is small pill to swallow. In any case the 1% fee doesnt whole-hog go to Systemspecs alone; the CBN and banks involved in the process share it.

I think the problem lies more with the CBN. The lack of information right from GEJ's days laid the foundation for this muck. And when the PDP latched on to the non-issue, the CBN should've been quick with detailed information about the whole arrangement. Sanusi was instrumental in selling the REMITA app to GEJ, and the same CBN now should have reviewed the agreement before implementation when Buhari gave the directive to mop up funds spread across gargantuan accounts.

Perhaps the FG is satisfied with the 1% as good value for the service rendered.

I dont think the whole REMITA issue is deserving of the undue attention PDP and their cohorts saraki/melaye are rendering it, because there're more pressing matters facing the APC and Nigeria as a whole.

Boko Haram and IPODS are threatening Nigeria's existence, ISIS is mentioning Nigeria after the Paris attacks, fuel is artificially scarce, dollar is rising, jobs are nowhere, electricity is going back to its old ways, crime is rising.....but the national issue is REMITA.

3 Likes

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Nobody: 11:58am On Nov 18, 2015
billyG:

Look son!u cnt just cancel contract like that govt. is a continuity u wait till d contract expire or if it is possible which is unlikely renegotiate d terms.

When Buhari cancelled Lagos rail project initiated by Jakande nko?

2 Likes

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by lohresloco: 11:58am On Nov 18, 2015
BCISLTD:
angry thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?


only a poor minded person who owns nothing in his life talk more of a personal business will sound like this. Really, they should just take royalty because setting up the business or the valid product it offers was or should be free. Please @seun find away to take kids outta this platform. Akpamu

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by yomexp(m): 11:58am On Nov 18, 2015
kayalcomp:
Is it not better the 1% charge be stopped and instead adopt service fees payments for the parties involved. Imagine deducting 1% from 1trillion naira, dont you know how much will be accrued to them if transanted regularly. Such companies or organisation will just become billionaires overtimes from our Tax payers money. Let our government be careful with this TSA.
i have edited the quote with detailed stats. please read again.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by drss(m): 12:00pm On Nov 18, 2015
Hahahahhahahahahha!!! cheesy wonders shall never end! Dem zombies no dey shame at all at all grin the other time APC sai baba disciples were chanting n claiming dat Buhari started tsa because he's a man of intergrity(corruption). D way d chanters talk dem u go tink say na buari invented tsa.
Now way breeze don blow fowl yash with shady deals going underground using tsa as cover, all of a suden dem selective amnesia con disappear. So na now una know say na GEJ started tsa? Just when massive fruad was uncovered by d national assembly? grin ok we don hear. Buari does not make mistake. Yeye dey smell. grin

4 Likes 2 Shares

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by protonpill: 12:00pm On Nov 18, 2015
BCISLTD:




Bro u wrote all this grammar in response to that half wits rants...u try ooo..


Back to the issue at hand....from the statement. ..systemspec are entitled to part of the 1% bah?...we need to what percentage of the 1% to determine if it was a good deal or not...

I know software deals get as much 500 million depending on the platform they are being deployed

SHARING FORMULA of the 1% service charge

SystemSpecs (Remita Providers) ----------50%

Respective Banks ---------------------------40%

CBN -------------------------------------------10%


Realise that in times past banks charged as much as 5% of monies collected on behalf of the government.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by billyG(m): 12:01pm On Nov 18, 2015
RevDesmondJuju:


Did GEJ make any statutory deduction as payment to Remita based on coordinating the implementation of the TSA?

What fees did the GEJ administration pay to Remmita? Was it for consultancy only or for implementing the TSA?

Who paid the commission to Remmita ? Was it under GEJ or Buhari?

These are straight forward questions that need no much turanchi
Dnt reasoning mischivously like a Goat all this is handle by CBN NOT D PRSDNT.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Gbawe: 12:01pm On Nov 18, 2015
Ephiezy4real:


Do your calculation, whats the 1% of 2tr? and am sure Liar Mohammed would reduced it to 2tr. Dont you think we might av up to 2.5tr there? Do ur calculation and tell me what 1% of 2.5tr is

Did you read the original article at all? If your information Minsters says the 1% is based on less than N2 trillion then why try to forcefully input it is N2.5 trillion just to justify Melaye's wild claim of N25 billion fee which has now been totally discredited? SystemSpecs too has validated the utterances of mohammed by stating that it is N7.62 billion taken as fees and not N25 billion as claimed by Melaye so what is your point?

- Even if the agreement on the charges is one per cent, it could not have amounted to 25 billion Naira because the total amount of money that has accrued to the TSA is less than 2 trillion Naira.


SystemSpecs, the owner company of Remita, the e-payment and e-collection software deployed by the Federal Government to drive the Treasury Single Account (TSA), has said only N7.62 billion was taken as fees by the three implementers of the project as against N25 billion claimed by its accusers.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by obailala(m): 12:01pm On Nov 18, 2015
lordofjustice:
Yes, the previous administration signed the agreement and that administration is implicated in this case but this present government that implemented the TSA without review equally has questions to answer.

GEJ tenure employed some people in DSS which was later disregarded by this same administration. There have been probes upon probes , reviews upon reviews on some actions and inactions of past administration including the current Col Dasuki arm purchase; so the question is: What stopped PMB to review this TSA as he has been probing and reviewing others before going ahead to implement. PMB administration is implicated too.
But the moment the info on the huge commissions was brought to PMB's knowledge, he instantly called for the payments to be paused and the monies paid refunded. As we speak, the FG and the parties involved are re-negotiating. Isn't that what anyone should expect from a responsible government?.... There are bound to be oversights and errors, no one is above that; but a responsible government quickly responds when issues of this nature are raised. That is the difference between the present and the past.

3 Likes

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by dammytosh: 12:03pm On Nov 18, 2015
BCISLTD:
angry thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%... shouldn't they just be paid royalty and small maintanace fee ?



lol. This is ignorance.

They own the software , they decide the term they want. GEJ and his team had options of Etranzact & Interswitch before they chose them

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Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Nobody: 12:03pm On Nov 18, 2015
Gbawe:
I guess we can accept this as the FG official and unambiguous announcement on the TSA. It is clear no single business interest has made N25 billion per transaction as claimed by Melaye. Buhari will have to very careful with Melaye, Saraki et al because it is clear these guys are 'spoilers' eager to frustrate tha fight against corruption and the effort to enshrine transparency in the operations of government.

http://saharareporters.com/2015/11/17/president-goodluck-jonathan-regime-signed-tsa-agreement-1-fee-minister
The whole issue on the disagreement on the accrued amount into the TSA can only be resolved by what is regarded as 1Billion. To some,1Billion is 1 followed by 9 zeros while to others, it is 1 followed by 12 zeros. It is after this clarification that the actual amount of 1% can be known.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Nobody: 12:04pm On Nov 18, 2015
billyG:

Dnt reasoning mischivously like a Goat all this is handle by CBN NOT D PRSDNT.

So why is the APC taking credit for a policy initiative by GEJ administration which is overseen by the CBN?

Or was it Buhari that did not give the order to all MDAs to revert to the TSA?

2 Likes

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by sage10pm(m): 12:04pm On Nov 18, 2015
modath:

TSA is not in the best interest of the lawmakers, they will fight it with every breath inside them..

Dino isn't whistle blowing, he is only rabble rousing & looking for ways of forcing the status quo to remain..






The only comma for me is that the contract should have been vetted properly & re-worked to favourably serve the nation, so this kind of mud slinging & buck passing would never have arisen...













Bruhva....na contract we dey talk abt here ooooo. had it bn d present admin extend or re-new it w/o review..u can blame dem bt luking @ it d CBN,25 commercial banks n d systemspecs dey share isn't big ooo compare to wot visa , MasterCard go charge us.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by dammytosh: 12:05pm On Nov 18, 2015
RevDesmondJuju:


When Buhari cancelled Lagos rail project initiated by Jakande nko?


Then he was a military man. No court.

Now, System Specs can go to court and embarrass the Government.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by smuth(m): 12:05pm On Nov 18, 2015
[size=14pt]So TSA na Jonathan Idea... Abeg na which new Idea Buhari don bring come this government sef? Dis na six months now and nothing new...Abi na Jonathan still dey government?[/size]

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by obailala(m): 12:07pm On Nov 18, 2015
protonpill:


SHARING FORMULA of the 1% service charge

SystemSpecs (Remita Providers) ----------50%

Respective Banks ---------------------------40%

CBN -------------------------------------------10%


[size=13pt]Realise that in times past banks charged as much as 5% of monies collected on behalf of the government.[/size]
This is the part of the story that most dissenting Nigerians are oblivious of. If only they knew how much the banks were fleecing from government funds in the past for similar transactions, they would know that even the 1% negotiated with systemspecs is a huge leap forward.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by mescapee: 12:07pm On Nov 18, 2015
Gbawe:
I guess we can accept this as the FG official and unambiguous announcement on the TSA. It is clear no single business interest has made N25 billion per transaction as claimed by Melaye. Buhari will have to very careful with Melaye, Saraki et al because it is clear these guys are 'spoilers' eager to frustrate tha fight against corruption and the effort to enshrine transparency in the operations of government.

http://saharareporters.com/2015/11/17/president-goodluck-jonathan-regime-signed-tsa-agreement-1-fee-minister




Let him continue to think that his approach as APC spokesman is the same approach he will still use as a federal minister.

Let him continue dishing out things he cannot defend in future.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by mapet: 12:08pm On Nov 18, 2015
BCISLTD:
angry thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?



Bros, it would seem the business model is operating in the form of software as a service(SAAS). Therein you don't pay software and royalties, you just pay an agreed fee per trasaction

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Nobody: 12:08pm On Nov 18, 2015
dammytosh:


Then he was a military man. No court.

Now, System Specs can go to court and embarrass the Government.

Do you know how many projects under GEJ that Buhari has cancelled so far?

I pity you
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by billyG(m): 12:09pm On Nov 18, 2015
I wept d day i saw Melaye in Apc rally!that pig is a spoiler,a fly in a soup.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Nobody: 12:10pm On Nov 18, 2015
BCISLTD:
angry thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?



educate yourself

"A royalty is a payment made by one party (the "licensee"wink to another that owns a particular asset (the "licensor"wink for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.[1][2][3][4][5][6][7] A royalty interest is the right to collect a stream of future royalty payments.[8]"

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by emmasege: 12:11pm On Nov 18, 2015
But for the whistle blowing, no one would have known that TSA was GEJ's initiative. APC-led FG made us believe all this while it was their own idea. Now, that questions arise on TSA-related corrupt practices, they are quick to tell us that na GEJ conceive the idea. Who does that?, only immatured and kids do that.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Nobody: 12:11pm On Nov 18, 2015
obailala:
But the moment the info on the huge commissions was brought to PMB's knowledge, he instantly called for the payments to be paused and the monies paid refunded. As we speak, the FG and the parties involved are re-negotiating. Isn't that what anyone should expect from a responsible government?.... There are bound to be oversights and errors, no one is above that; but a responsible government quickly responds when issues of this nature are raised. That is the difference between the present and the past.

At least we can now agree that both parties made mistake in this TSA saga; my problem with APC supporter is the way they go about condemning everything about the past administration even when the current administration is not getting all its acts right. It is a mark of hypocrisy

2 Likes

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by teepain: 12:11pm On Nov 18, 2015
modath:

TSA is not in the best interest of the lawmakers, they will fight it with every breath inside them..

Dino isn't whistle blowing, he is only rabble rousing & looking for ways of forcing the status quo to remain..






The only comma for me is that the contract should have been vetted properly & re-worked to favourably serve the nation, so this kind of mud slinging & buck passing would never have arisen...




Modath nice suggestion there. However find some of my thoughts below:

(1)it might be difficult to renegotiate a contract that is already in force except there is a clause that allows that in the original contract. For instance if the contract had tenor it might be renegotiated at the expiration of the period

(2) if the vendor (System Specs) was selected through a competitive bidding process (as we have learnt) by the outgone regime of GEJ why didn't anybody question the 1% charge which is to be shared by System Specs, Commercial Banks and CBN?

(3) the very people who didn't allow GEJ to fully implement the noble TSA initiative are still around and they aren't going to give up without a fight

(4) before the introduction of TSA what were the charges like? Some banks were charging as high as 25% and yet they were round tripping by lending the money back to govt at say another 20-25% Now, how government kept her money with banks and the banks were lending same to govt beats me. It was a scheme that was enriching the mafias in the banking industry. That explains why it was difficult for the banks to lend money to the real sector as govt as a lender was more attractive.

(5) in engaging System Specs on this issue (and I support this) government has to be tactful because the contract is legally enforceable and there could be a penalty clause for abrupt termination of the contract especially where it can not be established that the vendor (System Specs) has breached any of the contractual terms and conditions.

(6) lastly, we have to be careful because it is System Specs today and it could be another Company tomorrow. We should not send signals to entrepreneurs that whatever contract we entered into with our govt may be willfully terminated at any time.

2 Likes

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by cymidas(m): 12:11pm On Nov 18, 2015
Govt of propaganda, everything bad is good luck and everything good is Buhari, why didn't the president review the policy before implementation like he as always reviewed every thing the last govt did.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by awa(m): 12:12pm On Nov 18, 2015
BCISLTD:
angry thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?




Honestly your question is on point. I would have loved to see the PMB government as transparent as they preach to review the whole TSA stuff with view to making it more applicable. Note so many ministries in Nigeria are not even ICT compliant so why this TSA stuff? May God help us in this nation
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by ziccoit: 12:12pm On Nov 18, 2015
lordofjustice:
Yes, the previous administration signed the agreement and that administration is implicated in this case but this present government that implemented the TSA without review equally has questions to answer.

GEJ tenure employed some people in DSS which was later disregarded by this same administration. There have been probes upon probes , reviews upon reviews on some actions and inactions of past administration including the current Col Dasuki arm purchase; so the question is: What stopped PMB to review this TSA as he has been probing and reviewing others before going ahead to implement. PMB administration is implicated too.

It is, however, interesting to know that report has it that PMB didnt need to review anything, what he has done was he directed CBN to stop Remita from deducting from TSA. This is what I called responsible and responsive leadership.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by musicwriter(m): 12:12pm On Nov 18, 2015
BCISLTD:
angry thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?



It's all part of the looting avenue that was deliberately created, otherwise, a software developer would have no business taking whole or part of 1% of Nigeria's GDP earnings.

Everywhere in the world even in private businesses, you pay a software developer to build a software for you and not to own part of your revenue. This software we're talking about my junior brother could offer a better one with just one tenth of Remita's bill. Nigeria is a scam!.
Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by philips70(m): 12:12pm On Nov 18, 2015
otil1:


The emboldened part refers pls:

Buhari administration must have reviewed all aspects of TSA before adopting it and even making it mandatory on all MDAS after the deadline it set all by itself.

Buhari administration saw the graft and adopted it, until the whistle was blown on it.

Do not try to exonerate anyone. It's either negligence or complicity. Either way, it is baaaad!

You guys baffle me. Where has a case of graft been alleged in the signing of the contract? Do you even know what graft is? Keep allowing political thieves to manipulate your minds.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Ahmeduana(m): 12:12pm On Nov 18, 2015
BCISLTD:
angry thanks for the clarification. ..but my question is why are the software owners entitled to part of the 1%...shouldn't they just be paid royalty and small maintanace fee?


AND YOU REAL BELIEVED THAT JONATHAN AWARDED THE CONTRACT OF tsa TO REMI-TINUBU-AHMED(remita)?

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by Gbawe: 12:14pm On Nov 18, 2015
obailala:
But the moment the info on the huge commissions was brought to PMB's knowledge, he instantly called for the payments to be paused and the monies paid refunded. As we speak, the FG and the parties involved are re-negotiating. Isn't that what anyone should expect from a responsible government?.... There are bound to be oversights and errors, no one is above that; but a responsible government quickly responds when issues of this nature are raised. That is the difference between the present and the past.

Thank you. All these folks saying the 1% fee is too high and that the FG should cancel the agreement are the same who would accuse Buhari of dictatorial tendencies if such happens only for SystemSpecs and others to sue the government for breach of contract. Where there is an agreement in place it is obvious to all law abiding citizens that the FG has to try and renegotiate terms amicably, if there is no breach from other signatories to the agreement, or face being sued which could then be very costly.

The source said the banks were holding talks with their lawyers and will sue the Federal Government for breach of contract.

A copy of the service agreement between SystemSpecs Limited and CBN dated December 2013, reads in part: “SystemSpecs and CBN are entering into a mutually beneficial relationship for the purpose of deploying and integrating Remita e-Payment platform and T24 Banking application to facilitate and support electronic payments and revenue collection of Federal Government Ministries, Departments and Agencies (MDAs) through seamless interface with Government Integrated Financial Management Information System application in accordance with the terms and conditions set out in this agreement”.

The agreement also mandates the CBN to ensure that whenever payment is made through Remita, it requests an electronic transfer from her account or account of its customers . Upon such request, Remita will transfer from the funding account the amount specified to the accounts of the beneficiary banks. The CBN agreed that such requests constitute authorization for the transfers.

The agreement also indicated that either of the party shall have the right to terminate the pact where the other party commits a substantial breach of any of its obligations under the agreement which remains unresolved after 30 days written notice of the breach and intent to terminate the agreement by the other party.

Part of the agreement also said either party shall have an immediate right to terminate the agreement if the other party becomes or is declared insolvent or bankrupt, becomes subject of any proceedings relating to liquidation, insolvency or for the appointment of a receiver or similar officer or in respect of its assets.

Also, any monies due and payable to either party at the time of termination shall remain payable and become due immediately upon termination.

1 Like

Re: President Goodluck Jonathan Regime Signed TSA Agreement With 1% Fee - Minister by PHIPEX(m): 12:14pm On Nov 18, 2015
Frankiss44:
Lool... So why was the APC taking the credit initially?

Dont you just love this administration?
I was about to ask same question. Interesting enough, this administration has not done any thing new for the past 6months apart from penalising MTN. From fight against Book Haram, to refineries, power, economy, sports, auto mobile policy, agriculture even fight against corruptoon. They only take credit whenever the result is positive but push blame to former administration if a negative news comes up. We all know how they celebrated TSA as the best thing to ever happen to Nigeria, they never reverenced GEJ when the ovation was so loud.

What a change!

1 Like

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