Reps launch probe into revenue leakages through remote platform

The House of Representatives Wednesday resolved to investigate the revenue leakages through the remote platform.

This followed the adoption of a motion titled: “Call to Investigate Revenue Leakages and Non- remittance of Revenues Generated through the Remita Platform,” sponsored by Jeremiah Umaru (APC, Nassarawa) and Jafaru Gambo (APC, Bauchi) at the plenary in Abuja.

Umaru, who led the debate on the motion, expressed concern that the country would continue to lose revenue if the matter was not addressed.

He said: “Remita is a software cum financial service platform owned by System-Specs which is a Private Company in charge of managing government revenues.

“It has served as a gateway for the Treasury Single Account of the Federal Government since 2012 though fully adopted in 2015 and used in the collection of government revenues over the years.

“Over N8.7 trillion had been processed through the platform before the deployment of the software. The Nigerian government had over 15,000 Bank Accounts operated by Ministries, Departments, and agencies.

“The proliferation of accounts has moved from deposit money banks to Central Bank of Nigeria allowing MDAs to create multiple sub-accounts thereby negating the TSA Policy of the Federal Government.

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“The TSA system has created a cashless economy, transparency, and effective tracking of cash assets with attendant accountability. It has not indeed fully blocked leakages and abuses by the proliferation of CBN Sub-Accounts.

“One percent of the funds collected is charged as commission for making use of the platform and shared among SystemSpecs (owner), Deposit Money Banks (processor), and the Central Bank of Nigeria (license issuer) in the ratio of 50:40:10 respectively. This is alarming and unacceptable.

“Despite the benefits and reasons for onboarding the Remita Platform, the rate of revenue leakages is worrisome apart from non-compliance substantively with Standard Operating Procedures and other allied Service Level Agreements signed by parties.”

The House, thereafter, mandated the Committee on Public Accounts to investigate revenue leakages via the remote platform.

The committee is also expected to investigate the non-compliance by revenue- generating agencies of government on standard operating procedures, and other allied service level agreements signed among DMBs, the Office of the Accountant-General of the Federation, Systemspec, Nigeria Interbank Settlement System, and CBN.

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