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How Remita Emerged as Gateway Technology for TSA – FG

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The Federal Government yesterday said Remita, a SystemSpecs Limited’s financial solutions provider, was selected as gateway technology for the Treasury Single Account (TSA) after series of deliberations at various stages.

Director of Finance, Ministry of Foreign Affairs, Salawu Zubairu, stated this during a training session for a delegation from the Gambia, chaired by Director of TSA, Sylva Okolieaboh, at the Office of Accountant General of the Federation (OAGF).

The Gambian team, led by the country’s Permanent Secretary, Ministry of Finance and Economic Affairs, Ada Gaye and Accountant General, Momodou Lamin Bah, visited Nigeria to understudy the implementation of its TSA.

Zubairu, who was Director of OAGF between January 2016 and February 2017 as the Team Lead for the development and implementation of the TSA, explained that Remita was chosen after considering the Nigerian Inter-Bank Settlement System (NIBSS), which was owned by the Central Bank of Nigeria (CBN) and deposit money banks (DMBs).

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It was reported that Remita and NIBSS made several presentations to the joint evaluation committee before Remita was chosen as the platform to effectively address the requirements expected by OAGF, CBN and external consultants to support TSA e-payment and e-collection of government receipts.

“Essentially, our arrangement was that CBN should provide the gateway. But when it became clear that the apex bank would not be able to provide that, we had to engage NIBBS, which is owned by CBN and all commercial banks in Nigeria, and SystemSpecs, which is a private company. At the end of the day SystemSpecs was selected.”

“The decision was essentially made by the CBN, even though we at the OAGF were part of the process. It is the CBN that takes responsibility for providing gateway,” he said.