Senate President Saraki
The Senate, on Wednesday, alleged fraud in the implementation of the Treasury Single Account (TSA) policy of the Federal Government, alleging that a private firm has been smiling home with billions of Naira through the policy.
Senate’s position was sequel to the adoption of a motion brought before the lawmakers by the chairman, Senate Committee on Federal Capital Territory (FCT), Senator Dino Melaye.
Melaye, had, in a motion on Wednesday, alleged that some illegal transactions have been taking place in respect of the implementation of TSA, adding that some persons had instructed a firm to collect one per cent of the funds pooled together in the TSA as administrative charges, even though ,the account was created by the Central Bank of Nigeria(CBN).
The Senate, therefore, mandated three of its standing committees to immediately begin the probe of the alleged fraudulent transactions around TSA. The committees include, Finance, Banking and other financial institutions and Public Account. The committees have four weeks to complete the assignment.
The motion had noted that a private firm, REMITA, an e-collection agent, was mandated to collect one per cent of the entire N2.5 trillion revenue paid into the TSA recently and that the firm got paid N25 billion on a single day.
According to the lawmakers, the payment was in violation of Section 162(1) of the 1999 Constitution.
The lawmakers insisted that Section 162(1) of the 1999 Constitution provides that the federation shall maintain a special account to be called ‘the federation account’ into which all revenues collected by the government and its agencies shall be paid.
According to the lawmakers, only the proceeds from the personal income tax of the personnel of the Armed Forces, the Nigeria Police Force, the ministry or department of government charged with foreign affairs and the residents of the FCT, Abuja, were exempted.
The senators also stated that a sum of N25 billion paid to Remita was not the only payment so far paid to the company as they stated that payments to the company was a continuous process.
The legislators insisted that going by the provisions of the Constitution, the proceeds remitted into the Federation Account and accruable to the TSA cannot be shared with anybody.
The senate, in its resolutions, directed the Ministry of Finance and the CBN to immediately suspend the payment to the consultant firm, REMITA, pending the outcome of the investigations.
While moving the motion, Melaye stated that he was aware that through a policy directive, all agencies generating revenue were mandated to pay their funds to the consolidated revenue fund.
He, however, observed that in the course of the operations of TSA, the Federal Government had mopped up some funds.
He said: “The senate observes that in the course of the operations of TSA, the Federal Government on the 15th of September, 2015, mopped up the sum of N2.5trn through its e-collection agent called REMITA.
“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 September15, 2015 ,alone amounted to N25billion largesse to REMITA for doing nothing.”
He noted that the the appointment of REMITA in the operations of TSA was illegal, having contravened Section 162(1) of the Constitition.
He also said that CBN is empowered by law to collect and disburse monies on behalf of the government, adding that using REMITA, which he said, is not a registered bank was offensive to the CBN ACT.
According to him, the Banks and Other Financial Institutions Act of 2007 provides that no person/persons shall carry out any banking business in Nigeria unless the company is incorporated in Nigeria and holds a valid licence under the Act, adding that anyone who transacts business without a valid licence shall be found guilty of an offence and if convicted, sentenced to 10 years imprisonment or a fine of N2million or both.
He further stated: “The activities of REMITA is a gross violation of BOFIA Act and another attempt of ripping Nigerians of task payer’s money that would have been channeled to other sectors of the national economy.”
Senator Enyinnaya Abaribe (PDP, Abia South) who supported the motion, asked the senate to investigate the persons that authorised the payment of money from the TSA Account to REMITA.
Abaribe said: “Is this the change we are looking for? I will not ask the question.
“Somebody made the decision. Who gave the order? Somebody then must be held responsible. In matters like this, we must not be partisan. I fully support the motion. It is beyond the party.”
Senate Majority Leader, Ali Ndume, described the payments to the company as a sabotage and advocated that the culprits be made to refund the money so far collected.
He said: “I didn’t believe that this could happen under this government. However, if it is true, the people involved are saboteurs and must be compelled to return the money and face the wrath of the law.”
He also said that the Governor of CBN Mr. Godwin Emefiele had denied knowledge of the scam.
Deputy Senate Leader, Bala Ibn Na’Allah, also said: “The eight senate is distinct and must do what is right and in accordance with the law. We will do what is right at all times. The eight senate will not subject itself to public referendum through the social media.”
Senator Shehu Sani (APC Kaduna Central) said that though the TSA was a good idea, “it is clear that the idea is being abused and exploited. We have to investigate the matter.”
Another senator, who spoke in support was Senator Bassey Akpan (Akwa Ibom North-East) said that the senate must act fast. He stated: “if nothing is done on this matter, it will lead the youth of this country on a nationwide protest against this government.
“There is total collapse of road network and other infrastructural facilities in the country.”
Senator Kabiru Gaya (APC, Kano South) also said that everything possible must be done to recover the funds.
While rounding off debates on the matter, the Senate President, Bukola Saraki, said that the committees he has mandated to investigate the matter must quicken investigation “because it is no longer acceptable for Nigeria to lose money to private organisations.”
The Senate, on Wednesday, alleged fraud in the implementation of the Treasury Single Account (TSA) policy of the Federal Government, alleging that a private firm has been smiling home with billions of Naira through the policy.
Senate’s position was sequel to the adoption of a motion brought before the lawmakers by the chairman, Senate Committee on Federal Capital Territory (FCT), Senator Dino Melaye.
Melaye, had, in a motion on Wednesday, alleged that some illegal transactions have been taking place in respect of the implementation of TSA, adding that some persona had instructed a firm to collect one per cent of the funds pooled together in the TSA as administrative charges, even though ,the account was created by the Central Bank of Nigeria(CBN).
The Senate, therefore, mandated three of its standing committees to immediately begin the probe of the alleged fraudulent transactions around TSA. The committees include, Finance, Banking and other financial institutions and Public Account. The committees have four weeks to complete the assignment.
The motion had noted that a private firm, REMITA, an e-collection agent, was mandated to collect one per cent of the entire N2.5 trillion revenue paid into the TSA recently and that the firm got paid N25 billion on a single day.
According to the lawmakers, the payment was in violation of Section 162(1) of the 1999 Constitution.
The lawmakers insisted that Section 162(1) of the 1999 Constitution provides that the federation shall maintain a special account to be called ‘the federation account’ into which all revenues collected by the government and its agencies shall be paid.
According to the lawmakers, only the proceeds from the personal income tax of the personnel of the Armed Forces, the Nigeria Police Force, the ministry or department of government charged with foreign affairs and the residents of the FCT, Abuja, were exempted.
The senators also stated that a sum of N25 billion paid to Remita was not the only payment so far paid to the company as they stated that payments to the company was a continuous process.
The legislators insisted that going by the provisions of the Constitution, the proceeds remitted into the Federation Account and accruable to the TSA cannot be shared with anybody.
The senate, in its resolutions, directed the Ministry of Finance and the CBN to immediately suspend the payment to the consultant firm, REMITA, pending the outcome of the investigations.
While moving the motion, Melaye stated that he was aware that through a policy directive, all agencies generating revenue were mandated to pay their funds to the consolidated revenue fund.
He, however, observed that in the course of the operations of TSA, the Federal Government had mopped up some funds.
He said: “The senate observes that in the course of the operations of TSA, the Federal Government on the 15th of September, 2015, mopped up the sum of N2.5trn through its e-collection agent called REMITA.
“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 September15, 2015 ,alone amounted to N25billion largesse to REMITA for doing nothing.”
He noted that the the appointment of REMITA in the operations of TSA was illegal, having contravened Section 162(1) of the Constitition.
He also said that CBN is empowered by law to collect and disburse monies on behalf of the government, adding that using REMITA, which he said, is not a registered bank was offensive to the CBN ACT.
According to him, the Banks and Other Financial Institutions Act of 2007 provides that no person/persons shall carry out any banking business in Nigeria unless the company is incorporated in Nigeria and holds a valid licence under the Act, adding that anyone who transacts business without a valid licence shall be found guilty of an offence and if convicted, sentenced to 10 years imprisonment or a fine of N2million or both.
He further stated: “The activities of REMITA is a gross violation of BOFIA Act and another attempt of ripping Nigerians of task payer’s money that would have been channeled to other sectors of the national economy.”
Senator Enyinnaya Abaribe (PDP, Abia South) who supported the motion, asked the senate to investigate the persons that authorised the payment of money from the TSA Account to REMITA.
Abaribe said: “Is this the change we are looking for? I will not ask the question.
“Somebody made the decision. Who gave the order? Somebody then must be held responsible. In matters like this, we must not be partisan. I fully support the motion. It is beyond the party.”
Senate Majority Leader, Ali Ndume, described the payments to the company as a sabotage and advocated that the culprits be made to refund the money so far collected.
He said: “I didn’t believe that this could happen under this government. However, if it is true, the people involved are saboteurs and must be compelled to return the money and face the wrath of the law.”
He also said that the Governor of CBN Mr. Godwin Emefiele had denied knowledge of the scam.
Deputy Senate Leader, Bala Ibn Na’Allah, also said: “The eight senate is distinct and must do what is right and in accordance with the law. We will do what is right at all times. The eight senate will not subject itself to public referendum through the social media.”
Senator Shehu Sani (APC Kaduna Central) said that though the TSA was a good idea, “it is clear that the idea is being abused and exploited. We have to investigate the matter.”
Another senator, who spoke in support was Senator Bassey Akpan (Akwa Ibom North-East) said that the senate must act fast. He stated: “if nothing is done on this matter, it will lead the youth of this country on a nationwide protest against this government.
“There is total collapse of road network and other infrastructural facilities in the country.”
Senator Kabiru Gaya (APC, Kano South) also said that everything possible must be done to recover the funds.
While rounding off debates on the matter, the Senate President, Bukola Saraki, said that the committees he has mandated to investigate the matter must quicken investigation “because it is no longer acceptable for Nigeria to lose money to private organisations.”
The Senate, on Wednesday, alleged fraud in the implementation of the Treasury Single Account (TSA) policy of the Federal Government, alleging that a private firm has been smiling home with billions of Naira through the policy.
Senate’s position was sequel to the adoption of a motion brought before the lawmakers by the chairman, Senate Committee on Federal Capital Territory (FCT), Senator Dino Melaye.
Melaye, had, in a motion on Wednesday, alleged that some illegal transactions have been taking place in respect of the implementation of TSA, adding that some persons had instructed a firm to collect one per cent of the funds pooled together in the TSA as administrative charges, even though ,the account was created by the Central Bank of Nigeria(CBN).
The Senate, therefore, mandated three of its standing committees to immediately begin the probe of the alleged fraudulent transactions around TSA. The committees include, Finance, Banking and other financial institutions and Public Account. The committees have four weeks to complete the assignment.
The motion had noted that a private firm, REMITA, an e-collection agent, was mandated to collect one per cent of the entire N2.5 trillion revenue paid into the TSA recently and that the firm got paid N25 billion on a single day.
According to the lawmakers, the payment was in violation of Section 162(1) of the 1999 Constitution.
The lawmakers insisted that Section 162(1) of the 1999 Constitution provides that the federation shall maintain a special account to be called ‘the federation account’ into which all revenues collected by the government and its agencies shall be paid.
According to the lawmakers, only the proceeds from the personal income tax of the personnel of the Armed Forces, the Nigeria Police Force, the ministry or department of government charged with foreign affairs and the residents of the FCT, Abuja, were exempted.
The senators also stated that a sum of N25 billion paid to Remita was not the only payment so far paid to the company as they stated that payments to the company was a continuous process.
The legislators insisted that going by the provisions of the Constitution, the proceeds remitted into the Federation Account and accruable to the TSA cannot be shared with anybody.
The senate, in its resolutions, directed the Ministry of Finance and the CBN to immediately suspend the payment to the consultant firm, REMITA, pending the outcome of the investigations.
While moving the motion, Melaye stated that he was aware that through a policy directive, all agencies generating revenue were mandated to pay their funds to the consolidated revenue fund.
He, however, observed that in the course of the operations of TSA, the Federal Government had mopped up some funds.
He said: “The senate observes that in the course of the operations of TSA, the Federal Government on the 15th of September, 2015, mopped up the sum of N2.5trn through its e-collection agent called REMITA.
“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 September15, 2015 ,alone amounted to N25billion largesse to REMITA for doing nothing.”
He noted that the the appointment of REMITA in the operations of TSA was illegal, having contravened Section 162(1) of the Constitition.
He also said that CBN is empowered by law to collect and disburse monies on behalf of the government, adding that using REMITA, which he said, is not a registered bank was offensive to the CBN ACT.
According to him, the Banks and Other Financial Institutions Act of 2007 provides that no person/persons shall carry out any banking business in Nigeria unless the company is incorporated in Nigeria and holds a valid licence under the Act, adding that anyone who transacts business without a valid licence shall be found guilty of an offence and if convicted, sentenced to 10 years imprisonment or a fine of N2million or both.
He further stated: “The activities of REMITA is a gross violation of BOFIA Act and another attempt of ripping Nigerians of task payer’s money that would have been channeled to other sectors of the national economy.”
Senator Enyinnaya Abaribe (PDP, Abia South) who supported the motion, asked the senate to investigate the persons that authorised the payment of money from the TSA Account to REMITA.
Abaribe said: “Is this the change we are looking for? I will not ask the question.
“Somebody made the decision. Who gave the order? Somebody then must be held responsible. In matters like this, we must not be partisan. I fully support the motion. It is beyond the party.”
Senate Majority Leader, Ali Ndume, described the payments to the company as a sabotage and advocated that the culprits be made to refund the money so far collected.
He said: “I didn’t believe that this could happen under this government. However, if it is true, the people involved are saboteurs and must be compelled to return the money and face the wrath of the law.”
He also said that the Governor of CBN Mr. Godwin Emefiele had denied knowledge of the scam.
Deputy Senate Leader, Bala Ibn Na’Allah, also said: “The eight senate is distinct and must do what is right and in accordance with the law. We will do what is right at all times. The eight senate will not subject itself to public referendum through the social media.”
Senator Shehu Sani (APC Kaduna Central) said that though the TSA was a good idea, “it is clear that the idea is being abused and exploited. We have to investigate the matter.”
Another senator, who spoke in support was Senator Bassey Akpan (Akwa Ibom North-East) said that the senate must act fast. He stated: “if nothing is done on this matter, it will lead the youth of this country on a nationwide protest against this government.
“There is total collapse of road network and other infrastructural facilities in the country.”
Senator Kabiru Gaya (APC, Kano South) also said that everything possible must be done to recover the funds.
While rounding off debates on the matter, the Senate President, Bukola Saraki, said that the committees he has mandated to investigate the matter must quicken investigation “because it is no longer acceptable for Nigeria to lose money to private organisations.”
The Senate, on Wednesday, alleged fraud in the implementation of the Treasury Single Account (TSA) policy of the Federal Government, alleging that a private firm has been smiling home with billions of Naira through the policy.
Senate’s position was sequel to the adoption of a motion brought before the lawmakers by the chairman, Senate Committee on Federal Capital Territory (FCT), Senator Dino Melaye.
Melaye, had, in a motion on Wednesday, alleged that some illegal transactions have been taking place in respect of the implementation of TSA, adding that some persona had instructed a firm to collect one per cent of the funds pooled together in the TSA as administrative charges, even though ,the account was created by the Central Bank of Nigeria(CBN).
The Senate, therefore, mandated three of its standing committees to immediately begin the probe of the alleged fraudulent transactions around TSA. The committees include, Finance, Banking and other financial institutions and Public Account. The committees have four weeks to complete the assignment.
The motion had noted that a private firm, REMITA, an e-collection agent, was mandated to collect one per cent of the entire N2.5 trillion revenue paid into the TSA recently and that the firm got paid N25 billion on a single day.
According to the lawmakers, the payment was in violation of Section 162(1) of the 1999 Constitution.
The lawmakers insisted that Section 162(1) of the 1999 Constitution provides that the federation shall maintain a special account to be called ‘the federation account’ into which all revenues collected by the government and its agencies shall be paid.
According to the lawmakers, only the proceeds from the personal income tax of the personnel of the Armed Forces, the Nigeria Police Force, the ministry or department of government charged with foreign affairs and the residents of the FCT, Abuja, were exempted.
The senators also stated that a sum of N25 billion paid to Remita was not the only payment so far paid to the company as they stated that payments to the company was a continuous process.
The legislators insisted that going by the provisions of the Constitution, the proceeds remitted into the Federation Account and accruable to the TSA cannot be shared with anybody.
The senate, in its resolutions, directed the Ministry of Finance and the CBN to immediately suspend the payment to the consultant firm, REMITA, pending the outcome of the investigations.
While moving the motion, Melaye stated that he was aware that through a policy directive, all agencies generating revenue were mandated to pay their funds to the consolidated revenue fund.
He, however, observed that in the course of the operations of TSA, the Federal Government had mopped up some funds.
He said: “The senate observes that in the course of the operations of TSA, the Federal Government on the 15th of September, 2015, mopped up the sum of N2.5trn through its e-collection agent called REMITA.
“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 September15, 2015 ,alone amounted to N25billion largesse to REMITA for doing nothing.”
He noted that the the appointment of REMITA in the operations of TSA was illegal, having contravened Section 162(1) of the Constitition.
He also said that CBN is empowered by law to collect and disburse monies on behalf of the government, adding that using REMITA, which he said, is not a registered bank was offensive to the CBN ACT.
According to him, the Banks and Other Financial Institutions Act of 2007 provides that no person/persons shall carry out any banking business in Nigeria unless the company is incorporated in Nigeria and holds a valid licence under the Act, adding that anyone who transacts business without a valid licence shall be found guilty of an offence and if convicted, sentenced to 10 years imprisonment or a fine of N2million or both.
He further stated: “The activities of REMITA is a gross violation of BOFIA Act and another attempt of ripping Nigerians of task payer’s money that would have been channeled to other sectors of the national economy.”
Senator Enyinnaya Abaribe (PDP, Abia South) who supported the motion, asked the senate to investigate the persons that authorised the payment of money from the TSA Account to REMITA.
Abaribe said: “Is this the change we are looking for? I will not ask the question.
“Somebody made the decision. Who gave the order? Somebody then must be held responsible. In matters like this, we must not be partisan. I fully support the motion. It is beyond the party.”
Senate Majority Leader, Ali Ndume, described the payments to the company as a sabotage and advocated that the culprits be made to refund the money so far collected.
He said: “I didn’t believe that this could happen under this government. However, if it is true, the people involved are saboteurs and must be compelled to return the money and face the wrath of the law.”
He also said that the Governor of CBN Mr. Godwin Emefiele had denied knowledge of the scam.
Deputy Senate Leader, Bala Ibn Na’Allah, also said: “The eight senate is distinct and must do what is right and in accordance with the law. We will do what is right at all times. The eight senate will not subject itself to public referendum through the social media.”
Senator Shehu Sani (APC Kaduna Central) said that though the TSA was a good idea, “it is clear that the idea is being abused and exploited. We have to investigate the matter.”
Another senator, who spoke in support was Senator Bassey Akpan (Akwa Ibom North-East) said that the senate must act fast. He stated: “if nothing is done on this matter, it will lead the youth of this country on a nationwide protest against this government.
“There is total collapse of road network and other infrastructural facilities in the country.”
Senator Kabiru Gaya (APC, Kano South) also said that everything possible must be done to recover the funds.
While rounding off debates on the matter, the Senate President, Bukola Saraki, said that the committees he has mandated to investigate the matter must quicken investigation “because it is no longer acceptable for Nigeria to lose money to private organisations.”
Source: Nigerian Tribune
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