Rhe Managing Director/CEO of REMITA .’Deremi Atanda has disclosed that from 2015 to 2022, the REMITA platform facilitated the generation of a total revenue of N34.311 trillion into the federation account
He further said the sum of N1.5 trillion was remitted through the platform in 2015
N2.8 trillion in 2016
N3.7 trillion in 2017
N4.6 trillion in 2018
N4.6 trillion in 2019
N4.2 trillion in 2020 being the year ravaged by COVID
N6 trillion in 2021
N6.8 trillion in 2022
During the investigative hearing chaired by Hon. Bamidele Salam, Atanda disclosed that there were revenue leakages through the REMITA platform and non-compliance with standard operating procedure and other related service agreements. This information was shared at the House Committee on Public Accounts.
The committee has decided to extend an invitation to Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, and Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), to personally appear before us and provide details about their respective roles in the contract agreement. Our objective is to verify the accuracy of the agreement between the Central Bank and Systemspec/REMITA regarding revenue collection.
Based on the information provided to the Committee, it was discovered that the stakeholders were supposed to receive a fee income of N343.109 billion at a contracted rate of one percent flat, as per the agreement signed in 2015. However, only N23.922 billion actual fee income was used instead, which is significantly lower than the conventional fee range of five to seven percent.
