TSA: Anger in Nigerian Senate over Alleged Remita Commission

The Nigerian Senate is investigating alleged payment of 1% commission of all funds entering the Treasury Single Account (TSA) to an e-payment platform named Remita.

It means that, out of about N2.5trillion that has accumulated in the TSA, the suspected company has taken a whopping N25billion, the senators were told Wednesday.

Almost all senators were united in expressing outrage over the presumed rip-off, prompting an investigation.

The TSA is an account into which all revenues from ministries, departments and agencies are paid. The policy took effect from September 15, 2015.

The Senate stopped short of ordering stoppage of payments into the TSA until it concludes investigations.

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