TSA Deal: Contractor Paid 25 Billion Naira

The Nigeria Senate on Wednesday accused the Central Bank of Nigeria, CBN, of paying an illegal sum of N25 billion Naira to Remita, an e-payment and collection agent.

In the deal, the Senators said,  Remita got 1% of the N2.5 trillion revenues paid into the TSA account as commission.
The Senators however said, that was not all Remita has been paid so far, and argued that it violates Section 162(1) of the 1999 Constitution, stating that all revenue should be paid directly to TSA account and not through an agent that will be paid commision.

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Senator Dino Melayi said,  “The activities of REMITA is a gross violation of the BOFIA Act and another attempt of ripping Nigeria of tax payer’s money that would have been channeled to other sectors of the national economy".

He also said, “The agent which charges one per cent of all monies passing through it, the implication of which one per cent of the N2.5trn mopped up on 15th September, 2015 alone amounted to N25bn largesse to REMITA for doing nothing.”
Melayi argued that using Remita which is not a registered bank, completely offends the CBN Act.

Remita was adopted by the Central Bank of Nigeria for the payment and collections of funds on behalf of the Federal Government of Nigeria.
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