By: Tanimu Salihu
The House of Representatives has ordered financial technology firm Remita, also known as SystemSpecs Ltd, to refund a total of over one hundred and eighty two billion Naira withheld from Treasury Single Account (TSA) since 2015 to the Federal Government following a forensic audit that uncovered significant financial discrepancies.
The directive was issued by the Public Accounts Committee (PAC) of the House during a hearing, following the submission of an investigative report by consulting firm.
The Chairman of the Committee Bamidele Salam, stated that the resolution was based on evidence submitted by the Consultant, as well as documents provided by SystemSpecs/Remita and other stakeholders within the Treasury Single Account (TSA) ecosystem.
According to the committee’s report on the total payable by the System specs limited for first regime, calculated at the Central Bank of Nigeria’s Monetary Policy Rate of 27.25%.
The committee also noted that some deposit money banks have already complied with similar repayment orders
Mr. Salam commended the forensic consultants for what he described as a thorough and patriotic job, emphasizing that the effort supports transparency and strengthens Nigeria’s fiscal accountability framework.
