I Didn't Know About the 1 Percent REMITA Charge - CBN Governor Confesses

 

The Central Bank Of Nigeria (CBN) governor, Godwin Emefiele stunned the Senate yesterday in a confessional statement that he had no knowledge about the 1% charge REMITA and other operators collected which amounted to N8 billion out of about N800 billion transferred into the account. The revelation which vindicated the upper chamber for its insistence on probing the Treasury Single Account (TSA) over alleged mismanagement has led to refund of N8 billion earlier taken as charges.
 
This was revealed before the Joint Committees on Finance, Banking, Insurance and other Financial Institutions and Public Account probing the alleged mismanagement of the account.
 
“The truth is that I will like to confess that I did not really know, because I have to say what I know, that there is one per cent charge being taken on that account until the Senate and the House of Representatives raised it when we were summoned to the office of the Senate President,” Emefiele said.
 
However, the surprise revelation was taken further to the Senate through a Point of Order 14 and 15 of its Standing Rule raised by Senator Sola Adeyeye (APC Osun Central) on the contributions of National Assembly to democracy in Nigeria. Coming under a Point of Order, Adeyeye said he received several e-mails and text messages during his official assignment abroad in the last two weeks on the relevance of NASS to the country’s democracy.
 
Adeyeye said it was the National Assembly that terminated third term agenda during former President Olusegun Obasanjo administration, saved the country from crisis when there was no defined leader when late President Umaru Yar’Adua was sick and also changed the electoral law that now makes rigging difficult in the country.
 
“I am proud to be part of this Senate. I watched on television last night when the CBN governor, for the first time, confessed that he was not aware of one per cent commission paid on TSA and that N8 billion had been refunded after his discovery of the payment when the National Assembly raised the matter,” he said.
 
After Adeyeye’s Point of Order, Senate President, Dr. Bukola Saraki, asked the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Adebayo Ibrahim (APC Kwara South), to explain what transpired during the public hearing.
 
Ibrahim said the Senate’s intervention on the TSA, compelled Systemspecs to return N8 billion to the federal government’s coffers, adding that the upper legislative chamber had been vindicated by the confessions at the hearing.
 
He said: “The CBN governor confirmed that he was not aware of the one per cent commission. The Accountant General also said the CBN brought the matter to him, but that he declined to sign the agreement. The AGF said he was not part of the decision.

The senate president Bukola Saraki took it from there as he highlighted the immense contribution the house made in upholding the country's democracy and national development. He swore that the house will not be distracted from performing its responsibility to the people.

 

Saraki said: “If by one singular act, we have been able to save N8 billion for the country, I think we are at best doing the right thing. I urge the committee to get to the root of the matter in the interest of the country.”

 

Source: Today