Treasury Single Account: Nigeria’s Central Bank Governor admits contract with Remita
Central Bank of Nigeria (CBN) Governor Godwin Emefiele and Accountant General of the Federation (AGF) Ahmed Idris clashed over the controversial Treasury Single Account (TSA) with SystemSpecs Limited, owner of Remita, the electronic payment solution.
The Chief Executive Officer of SystemSpecs, John Obaro insisted that the platform had a valid contract with Nigeria’s apex bank and deserved to earn its charge as contained in the contract.
The Senate instituted the public hearing following claims that the one per cent service charge being paid to Remita under the TSA was a rip-off.
Emefiele explained the spirit behind the TSA which process he said began in 2010.
Idris gave the amount collected under the TSA as N1.8 trillion while the apex bank Governor gave N2.038 trillion as the amount collected from the Ministries, Departments and Agencies (MDAs) as at December 8. But The AGF gave a figure of N1.8 trillion.
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