The House of Representatives is set to probe instances of revenue leakages and non-remittance of revenue generated through Remita.
This is as the House also expressed dismay over the non-compliance by revenue-generating agencies of government on standard operating procedures and other allied service level agreements signed among commercial banks, Office of the Accountant General of the Federation, Systemspec, Nigeria Interbank Settlement System and the Central Bank of Nigeria for further legislative action.
The motion titled, ‘Call to Investigate Revenue Leakages and Non–remittance of Revenues Generated through the Remita Platform’, was co-sponsored by Hon. Jeremiah Umaru and Hon. Jafaru Gambo both members of the All Progressives Congress from Nasarawa and Bauchi States respectively.
According to Umaru, “Remita is a software cum financial service platform owned by System-Specs which is a Private Company in charge of managing government revenues, acting 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”.
He further noted that “Over N8.7 trillion and 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 the Central Bank of Nigeria (CBN) allowing MDAs to create multiple sub-accounts thereby negating the Treasury Single Account policy of the Federal Government.
“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”.
He noted that a percentage of the funds collected is charged as a commission for making use of the platform and shared among SystemSpecs, Deposit Money Banks and Central Bank of Nigeria in the ratio of 50:40:10 respectively. This is alarming and unacceptable.
He further expressed concern that “Despite the benefits and reasons for on-boarding 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, he said, is “Disturbed that if this scenario continues unabated, the government will continue to experience a revenue shortfall and this will prevent the government from meeting the rising demand for good governance and infrastructural development from citizens;
“Concerned that a larger percentage of deposit money banks has formed the habit of delay in on-ward remittance or sweeping of revenues collected to the CBN”.
