The House of Representatives has directed its committee on Public Account to investigate the non-remittance of revenue generated through the Remita platform to government coffers.
The decision follows a motion sponsored by Hon. Jeremiah Umaru and Hon. Jafaru Gambo, addressing concerns of alleged revenue leakages through the Remita platform.
Hon. Umoru highlighted the importance of investigating the matter, alleging non-compliance with Standard Operating Procedures and other Service Level Agreements among Deposit Money Banks, the Office of The Accountant General, SystemSpec, Nigeria Interbank Settlement System ,NIBSS, and the Central Bank of Nigeria ,CBN.
The motion pointed out that Remita, a software and financial service platform owned by System-Specs, has managed government revenues and served as a gateway for the Treasury Single Account ,TSA, since 2012. However, concerns were raised about the proliferation of accounts, as over N8.7 trillion had been processed through the platform.
The motion alleged that 1% of the funds collected is charged as commission, with SystemSpecs ,owner, Deposit Money Banks (processor), and the Central Bank of Nigeria (license issuer) receiving shares in the ratio of 50:40:10.
The House of Representatives expressed concern about revenue leakages and non-compliance, which could hinder the government’s ability to meet demands for good governance and infrastructural development.
The investigation aims to address delays in remittances and other issues affecting revenue collection through the Remita platform.
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