House Queries CBN, Banks, FIRS, Others Over N15bn Remita Transactions

The House of Representatives has criticized the Central Bank of Nigeria (CBN), Federal Inland Revenue Service (FIRS), and commercial banks, among others, for suspected irregular transactions and remittances through the Remita platform. Chairman of the House Public Accounts Committee (PAC), Bamidele Salam, expressed concerns during the committee’s investigative hearing on Thursday, particularly questioning the payment of N15 billion to Remita by the Office of the Accountant General of the Federation (OAGF) between 2016 and 2018. Salam noted the lack of agreements or contracts accompanying these payments, deeming them questionable.

During the hearing, Ahmed Abdullahi, the Director of Banking Services at the CBN, defended the bank’s utilization of Remita and System Spec for revenue remittance, citing their established service record with banks. However, representatives from the Treasury Single Account (TSA) Department, including Oyewole Adewale standing in for the Accountant General for the Federation, criticized the CBN for its lack of response to requests for revenue reconciliation related to the TSA.

Aderemi Atanda, Director of Remita Payment Services Ltd, presented a summary of the TSA collection record, revealing that revenue was shared among the CBN, commercial banks, and Remita, with varying percentages. Atanda highlighted the dynamic nature of these collections, indicating fluctuations rather than static figures.