The Central Bank of Nigeria, CBN, Governor, Godwin Emefiele has subtly indicted his predecessor Sanusi Lamido Sanusi, in controversial deals signed under his tenure with the E-collection agent REMITA for the Treasury Single Account, TSA, that mopped up N2.5trn from commercial banks into a central account with the apex bank.
Emefiele gave this explanation Wednesday, December 9, 2015 when quizzed by the Senate over a 1% agreement charge of N25bn credited to REMITA.
While exonerating himself, before the Senate, Emefiele categorically stated that he was not aware of the 1% agreement between the CBN and Systems Specs (the company behind REMITA).
He also said he only realized the details of the contract when he was invited by the House of Representatives confirming that the process started in 2010 and full implementation of TSA.
The CBN Boss indicted Sanusi when he stated that he immediately contacted the Director of System specs and called for the payment to be halted, insisting that the 1% charge were exorbitant.
“In all sincerity I did not know there was 1% transferred to System Specs in that regard. REMITA was to take 50%, other banks 40% and CBN 10%.
“The monies were put together by the three companies involved and paid back to the MDAs.
“It was after the money was moved that the one percent was taken. Our balance could defer depending the time of when it was taken. The fees appear quite exorbitant.”
The Senate had earlier ordered its Committee on Finance, Banking, Other financial institutions and Public Accounts to carry out a holistic investigation on the management of the TSA, following a motion sponsored by Dino Melaye and 35 other Senators.
The Senators had alleged that there were fraudulent practices in the management of the TSA under President Muhammadu Buhari’s administration.
During the Senate’s public hearing on the Abuse and Mismanagement of TSA, the Accountant General of the Federation, Ahmed Idris also exonerated the Office of the Accountant General of the Federation, OAGF, and denied being part of the REMITA N25bn contract agreement.
Idris claimed he had also questioned the rationale for the Memorandum of Understanding, MOU, signed between the CBN and System specs.
He submission also included claims that since his assumption as AGF no payments had been sent via the OAGF.
“There was no agreement between the OAGF and the Central bank. I am not part and my office is not part of this payment. We have not engaged anybody and have not paid anybody; I have also said what I know. We are now in Era of E- collection as far as transparency and revenue collection is concerned.”
Responding to the statements made on the TSA, the Chairman, Senate Committee of Finance, John Enoh, praised the courage of the CBN governor.
“As we sit back, we will further invite for closer engagement some of the issues before we come up with a solution.
Present at the hearing were Managing Directors, MDs, of commercial banks and Chairmen and Members of the joint Committees on related matters.
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