Remita Faults Allegation Of 1% Charged For Processing TSA Transaction

THE Managing Director of Remita Payment Service Limited ( RPSL), ‘ Deremi Atanda, has debunked the allegation of one per cent fee beingcharged by the Federal Government and the company for the processing of TSA transactions.

Atanda, who spoke at the House of Representatives Committee on Public Accounts ( PAC) meeting in Abuja, said nothing of such happens, as the company only operates with the authorised applicable fee. Referencing the CBN circulars of November 2018 and December 2020, he confirmed that the applicable fee for processing TSA payments was N150 with applicable VAT irrespective of the amount being paid to any Federal Government’sministries, Departments and Agencies ( MDAS) account at the central bank.

Atanda further clarified that Remita does not manage government revenue, but serves as an indigenous software and payment gateway, channeling collected funds directly into CBN accounts.

He emphasised that revenue losses cannot occur within the Remita platform itself, with the technology being designed to provide real- time data on the banking statements of all the MDAS using the platform.

Denying unauthorised fees beyond the N150 per transaction, Atanda affirmed Remita offers free value- added services to the FG despite foreign hosting costs.

The session was convened to probe instances of alleged leakages and non- remittance of TSA revenue generated through Remita, originating from a motion co- sponsored by lawmakers Jeremiah Umaru and Jafaru Gambo, both members of the All Progressives Congress ( APC). The legislators resolved to sanction MDAS that flout the TSA regulations.