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Title: (AM GIST): N25bn TSA Fraud: CBN Governor, Others to Appear Before Senate Today
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OrderPaperToday – The senate will today begin a public hearing on the alleged mismanagement of the Treasury Single Account (...
OrderPaperToday – The senate will today begin a public hearing on the alleged mismanagement of the Treasury Single Account (TSA) and payment of N25billion commission to SystemSpecs for the use of Remita software in administering the remittances.

A notice of the hearing released weekend and signed by Sen. John Enoh, Chairman, Senate Committee on Finance, said the public hearing will hold today Wednesday  by 2/00pm at the conference room 022, new senate building at the national assembly complex.
The Governor of the Central Bank of Nigeria (CBN), Accountant General of the Federation, Managing Director of SystemSpecs Ltd, Collecting Deposit Money Banks and the Budget Office of the federation are the specific stakeholders invited to appear before the joint committee investigating the matter.
According to the notice, members of the general public with information to volunteer are also invited to appear before the committee.
Recall that the Senate had on November 11, 2015, mandated its Committees on Finance, Banking and other financial institutions; and Public Account to carry out a holistic investigation into the activities of REMITA, an E-collection agency engaged by government to manage the scheme.
A motion sponsored by Senator Dino Melaye (APC, Kogi West) had prayed the upper legislative chamber to carry out an investigation into how SystemsSpecs, the firm which deployed the REMITA software for the collection of the TSA gets entitled to 1% of monies collected under the scheme.
According to Melaye, it was observed that in the course of operating the single account, over 2.5 trillion had been collected which charges of 1% amounted to 25billion naira for “doing nothing.”

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