THE Office of the Accountant General of the Federation (OAGF) and the
Central Bank of Nigeria (CBN) will today meet with SystemSpecs, banks and other
stakeholders on the tariff for the transactions fees to be charged under the
Treasury Singles Account (TSA).
File Photo: From left, new CBN Governor, Mr Godwin Emefiele, his
deputies, Sarah Alade and Adebayo Adelabu during a World Press Conference in
Abuja. Photo: Gbemiga Olamikan.
Vanguard investigations reveal that the meeting, which was at the
instance of the OAGF and the CBN, will review the tariff for transactions under
the TSA.
Presently, there is a one per cent transaction fee for every transaction
through the TSA which is conducted on Remita electronic payment platform owned
by SystemSpecs.
A source close to the TSA project confirmed this development to
Vanguard. Speaking on condition of anonymity, he said, “The meeting will
involve all the companies in the TSA value chain, and they will discuss and
agree on what the new tariff should be.
The meeting should have been held long before now, but recent
developments have made it imperative”.
Last week, following the decision of the Senate to probe allegation that
Remita had been paid N25 billion, being the 1 per cent commission it charged
for the transfer of N2.5 trillion of federal government funds to the TSA, and
the directive of CBN to SystemSpecs to refund the transaction fees charged so
far under the TSA, SystemSpecs had written to the President, seeking
intervention of the Presidency in the resolution of the transaction fees
issues. The letter in part reads, “While we await clarification from OAGF/CBN
on the way forward, we have since suspended all TSA e-Collection fees on the
platform. This means that none of the TSA collection parties/channels are
earning any fees for providing services to Government.
“This position is however not sustainable as the collection partner
banks are threatening to suspend FGN TSA collections. This would clearly be
playing into the hands of those who do not wish this initiative to succeed. We
understand the strategic importance of the TSA project to this Administration
and the country at large.
“Your Excellency, we would appreciate your kind and urgent intervention
to ensure a speedy resolution of this matter before the banks stop collections.
“In line with the subsisting contract and your assured commitment to the
rule of law, we humbly request sir, that the fees earned by ourselves and the
banks to date be returned to us and our partner banks. In view of the enlarged
scope and the need to review the process, we humbly request sir, that you
direct a meeting of relevant stakeholders be conveyed to agree a sustainable
pricing model going forward. We solicit the continued political support of the
TSA initiative by your Administration for this initiative that offers far more
to our nation beyond the immediate take-off issues”.
Vanguard Business: By Babajide Komolafe
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