The coalition of media and civil society advocacy groups has threatened to seek legal action against any plan to scuttle the smooth operation of the Treasury Single Account (TSA).
Speaking on behalf of the groups, the executive director, African Media Roundtable Initiative, Omoluabi Olabode Adeyemi, said they were concerned that the TSA, which has redefined the economic prosperity of Nigeria in the face of dwindling oil fortune, has come under so much attack and controversy.
The Senate joint committee on finance, banking, Insurance and other financial institutions and public accounts, in March, recommended the termination of the 2013 contract awarded to SystemSpecs by the Central Bank of Nigeria(CBN) for electronic collection and remittance of government fund through the Remita, the indigenous software developed and used by SystemSpecs.
According to the group, “the TSA system has proven that indeed our economic mainstay could be diversified, broadened and expanded with the overall interest of a rapid and comprehensive national development.”
The huge amount of money which runs into trillions of Naira that have been so far generated by the Treasury Single Account through the home grown indigenous technological development otherwise known as Remita, developed by the Nigerian Based System specs and voted many times as the software of the year, has redefined the economic prosperity of Nigeria in the face of dividing oil fortune in the international communities.”
“We commend the governor and management of Central Bank of Nigeria for the courage, patriotism and commitment they have displayed so far to make sure the Remita platform work in the interest of Nigeria. We wish to warn therefore that any attempt to frustrate or cancel the existing agreement that has brought Remita to work will attract a stiff resistance from the people and possible legal actions. This has become necessary because the people have seen that Remita is the solution to the wanton looting and fraudulent diversion of our commonwealth that have pervaded our system of governance in the years back unabated which has ruined our economy and has caused obvious infrastructural, human and social, economic collapse of our motion,” Adeyemi said.
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