National Economy
Thursday, October 2, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home News

Reps Panel Accuses CBN, Banks Of Sharing N15bn Remittance

by James Kwen
2 years ago
in News
Reading Time: 2 mins read
cbn
Share on FacebookShare on TwitterShare on Telegram

The House of Representatives’ Committee on Public Accounts has accused the Central Bank of Nigeria (CBN) and commercial banks of complicity in the sharing of the N15 billion remittance paid to Remita, from the Office of the Accountant General for the Federation (OAGF).

The Chairman of Committee, Hon. Bamidele Salam made the accusation at the resumed investigative hearing on revenue leakages in Abuja on Thursday.

Remita is a payment solution that helps individuals and businesses make and receive payment, pay bills and manage their finances.

Salam said that the payment of N15 billion to Remita from the OAGF from 2016 to 2018 was questionable, adding that the OAGF paid the money without agreement or contract.

You May Like

Dangote Group To Redeploy Sacked Refinery Workers After Government Intervention

Tinubu Says Tax-to-GDP Rises To 13.5%, Debt Burden Halved

While describing the payment as illegal, he said the money was an illegal payment without budgetary provision, querying the source of the money.

“The CBN also shared in the money. The money is an illegal payment; there was no budget provision, so where did they source the money from?

“System Spec and Remita, both collecting revenue for the federal government, will share 50 percent, while the banks and the CBN will also have their share,” Bamidele said.

The Director Banking Services, CBN, Ahmed Abdullahi, said they deemed it fit to source for an alternative way of remitting revenue, and Remita and System Spec were selected because they had been rendering similar services to banks.

According to him, Remita was engaged in 2011 and operations commenced in 2012 with system module names, saying the CBN only finalized the transaction.

He said that the fees charged under the TSA were in line with the structure of banking adding that the volume of revenue collection that passed through Remita was N86 million.

The Director, Remita Payment Services Ltd, Aderemi Atanda while reading the summary of the TSA collection record, said that 10, 20, and 50 percent were shared among CBN, commercial banks, and Remita.

Meanwhile, the Committee has warned the Chairman, Federal Inland Revenue (FIRS), Mr. Zacch Adedeji, over his continuous disregard for the invitation of the panel, saying his actions amount to contempt of parliament.

The chairman, while giving this warning said, this was the fourth time the committee would be inviting the FIRS chairman but failed to show up.

According to him, in addition to writing him officially, they have also made sure that such letters were delivered personally to his mail box and his WhatsApp number.

“We condemn and describe it as irresponsible and arrogant, and we tell him that there will be consequences if he continues this contempt of his parliament,” Salam said.

Tags: Central Bank of Nigeria (CBN)House of Representatives’ CommitteeOffice of the Accountant General for the Federation (OAGF).Remita
ShareTweetShare
Previous Post

Eko Disco Affirms Management Overhaul, Salary Harmonization Drive

Next Post

BREAKING: CBN Pegs Minimum Capital Bases For Banks At N500bn, N200bn

ANOTHER GOOD READ

Dangote Hails Tinubu Over NNPCL Leadership Choice
Business

Dangote Group To Redeploy Sacked Refinery Workers After Government Intervention

8 hours ago
News

Tinubu Says Tax-to-GDP Rises To 13.5%, Debt Burden Halved

8 hours ago
Tougher Choices Ahead For Nigeria’s Economic Rebound In H2
News

Tinubu: 153,000 Nigerians Access ₦30bn Loans Through Credicorp

8 hours ago
AfDB, Partners Raise $2.2bn For Agro Zones Expansion
News

AfDB, Private Sector Leaders Forge Stronger Alliance For Africa’s Growth

20 hours ago
AfDB, Partners Raise $2.2bn For Agro Zones Expansion
News

Africa Must Turn Trade Disruptions Into Growth Opportunities – AfDB President

20 hours ago
Ogun MAN Urges Manufacturers To Explore Alternative Funding
News

MAN Condemns Labour Unions Over Dangote Refinery Dispute

21 hours ago
Next Post
Investors React to Interest Rate Hike, Equities Market Falls ₦773bn

BREAKING: CBN Pegs Minimum Capital Bases For Banks At N500bn, N200bn

Most Recent

Dangote Hails Tinubu Over NNPCL Leadership Choice

Dangote Group To Redeploy Sacked Refinery Workers After Government Intervention

October 1, 2025
Peter Obi Calls For Reopening Of Onitsha Markets Closed Over Illicit Drugs

Obi Slams Lagos Trade Fair Demolitions, Alleges Lack of Due Process

October 1, 2025

Tinubu Says Tax-to-GDP Rises To 13.5%, Debt Burden Halved

October 1, 2025
Tougher Choices Ahead For Nigeria’s Economic Rebound In H2

Tinubu: 153,000 Nigerians Access ₦30bn Loans Through Credicorp

October 1, 2025
Nigeria Immigration Launches 24-hour Real-time Border Surveillance

Immigration Service Begins Nationwide Clampdown On Foreigners With Expired Visas

October 1, 2025
Nig@65: NDPC Act Boosts Nation’s Economic, Global Image – Expert

Nigeria at 65: Completing the Work of Freedom

October 1, 2025
NASRDA Pushes Space Education

NASRDA Pushes Space Education

October 1, 2025

Nigeria’s London Mission Staff Trained On Data Privacy Compliance

October 1, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy