FEDERAL Government of Nigeria has realized N3 trillion in the
Treasury Single Account (TSA), as reportedly revealed by the firm handling the
project adding that despite some challenges faced along the line particularly nonchalant
attitudes of some banks over the collection of deposits for the non-payment of
the fees, the company
Chief Executive Officer of SystemSpecs
Limited, John Obaro, disclosed this at the weekend stating that the TSA has
reduced debt servicing costs, liquidity reserves and enhanced the effective use
of surplus cash adding that his firm would continue to deliver on its terms of
contract with the Central Bank of Nigeria (CBN), despite being owed its fees on
e-collections since March, last year...
“From our end, we have continued to provide and support the Remita
platform, 24 hours a day and seven days a week, for use by citizens for all
their payments to the Federal Government. Our continued support for the TSA is
fueled by our belief in the enormous benefits the Remita software brings to the
implementation of TSA for the average citizen.
“We must admit though that we are
excited and further driven by the fact that our indigenous Remita software has
succeeded in powering the technological backbone for such a successful and
strategic national initiative, along with other well-meaning Nigerians, we do
not want this to fail.”
“Remita is a wholly indigenous
e-payment and e-collection software that harmonises inflows, remittances and
expenditure for enhanced transparency and increased efficiency. The software
has enabled government recoup over N3 trillion from accounts of MDAs, and
instilled much needed fiscal discipline that allows the Ministry of Finance to
have effective control over budget allocations.
“We are encouraged by the support
from Nigerians, home and abroad, who take pride in the knowledge that, for the
first time in our history, an indigenous company is responsible for the
development of payment software that seamlessly powers a sensitive national
policy such as the TSA”.
However, Obaro pleaded with the
Federal Government to tidy up the negotiations on its payment stating that the delay
in settling the bills is negatively affecting its operations.
It will be recalled that in 2011,
SystemSpecs signed a deal with the CBN to deploy its Remita software for the
implementation of the TSA policy. The software, as learnt can send and receive
funds from all the 24 commercial banks, over 400 microfinance banks, and other
payment channels, such as debit cards, mobile wallets and e-wallets.
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