The refunded N8billion represents monies accrued from the one per cent TSA remittance charge collected by SystemSpecs, participating commercial banks and the CBN from federal government ministries, departments and agencies (MDAs).
Obaro said this during a public hearing on the “Abuse and Mismanagement of Treasury Single Account (TSA) Regime” organised by the Senate Joint Committee on Finance, Banking, Insurance, and other Financial Institutions and Public Accounts.
The Senate had in early November blown the whistle on the one per cent charge on the reported N2.5 trillion moved to the TSA – translating to N25 billion. The Senate consequently ordered a probe.
Obaro told the Senate joint committee that although SystemSpecs was not averse to price renegotiation in view of “emerging realities”, the one per cent fee was discussed by all stakeholders, set by CBN and Office of the Accountant-General of the Federation (OAGF) and communicated to all MDAs by the CBN.
New remita-ad-conceptz250x250“We did not charge above the agreed rates,” he insisted. “On September 14, 2015, the OAGF had expressed concern at a project review meeting about the fees considering the enlarged scope of the project. SystemSpecs was not averse to price renegotiation. We wrote to the CBN that we are open to renegotiation and that an all stakeholders’ meeting be convened.
“Three weeks later, on October 7, we wrote again that an all stakeholders’ meeting should be convened to review processing fees.
“Two weeks later, on October 27, we were instructed by the CBN to refund all fees that had accrued to us in accordance with the contract. We strategically chose to comply within 24 hours of receipt of their letter as we did not want to allow the issue of fees in the heat of the moment to becloud the work we had done in the delivery of TSA for Nigeria. While refunding our own portion of the fees as demanded by the CBN, however, we accompanied the refund with a fairly worded letter stating why the fees legitimately earned in line with our contract should be refunded to us.
“On November 11, two weeks after refunding all fees and operating zero fees at the risk of a legal battle with other stakeholders, without hearing our own side of the story, we were erroneously accused of fraud, abuse and mismanagement of the TSA on the hallowed chambers of this highly respected Senate.”
Obaro further said that the firm felt unfairly treated in the whole episode.
“To say the least sir, we feel used, abused, unappreciated and abandoned by the country for which we stuck out our necks and faith to deliver the platform that made the TSA possible, which in other climes, all citizens would be proud of, acclaimed, encouraged and motivated to further the frontiers of greater technological breakthroughs and innovation,” he said, just as he wondered how enforcing the terms of a validly signed and subsisting contract amounted to fraud.
In what Obaro described as an “unfortunate syndicated attempt” to discredit Remita, he said the Senate was misled into believing that N25 billion was paid out to SystemSpecs in one day for doing nothing. Nothing can be further from the truth and, by now, it is obvious to the world that the Senate was misled.”
According to him, the objective of the detractors was to paint Remita black in order to achieve a set goal – to disrupt the technology platform and force government to abandon the TSA policy.
“Our consolation is that despite this barrage of syndicated attacks, many Nigerians and international observers believe that this TSA way is the way to go. We are proud that our indigenous Remita kick-started this project at a time when CBN had written to OAGF in 2011 to delay the commencement of the project because the technology was not yet in place.”
Obaro reminded the federal government of the importance of contract sanctity.
SOURCE: LEADERSHIP
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