Senate Enquiry: Systemspecs Denies Wrong Doing, Says It Delivered


BEVERLY HILLS, February 25, (THEWILL) – SystemSpecs, the company accused of enriching itself while providing e-payment platform for the operation of Treasury Single Account, TSA, for the Nigerian government has denied any wrong doing arising from the Senate enquiry.

In a statement by Mr John Obaro, Managing Director/CEO, SystemSpecs, made available to THEWILL, the company declared that it delivered beyond the call of duty to ensure the success of the initiative and thanked the Senate for its commitment to preserving the national interest.

“It is fulfilling to note that the Senate report did not accuse Remita of under-delivering on the substance of the contract and that our efforts are recognized as having played a significant role in the life of the nation when it mattered and that the disagreement has only been on the commercial terms of our contract,” the statement read.

“Since inception over 24 years, we have chosen to be guided by sound ethical principles and have walked away from many transactions we believe can challenge the standards we have set for ourselves. This is attestable to by the numerous multi-national, indigenous public and private sector organisations and individuals we have been privileged to work with over the years.

“On the FGN TSA project (which many people did not give a chance of success, by the way), we have been careful to respect the terms of our contracts and many times gone beyond the call of duty to ensure the immediate and long term success of the initiative. We are glad and proud that we have delivered.

“For emphasis, we wish to state that the TSA project goes beyond revenue collections and extends to payments, accounting information exchange and update, full real-time integration with GIFMIS, integration with the national financial services ecosystem enabling payers across multiple platforms, 24/7 user support for 50,000 FGN TSA users of Remita platform, among others.

“It may also be instructive to note that while many things seem to have been muddled up in the public domain for different reasons; e-collections schemes anywhere in the world are a product of negotiations based on scope and complexity of tasks involved.

“The subsisting 1% charge eventually agreed by the CBN, banks and ourselves at the commencement of the project was considered a good starting point which could be reviewed based on emerging realities. This much is a clear and integral part of our contracts with the CBN.

“The resounding success of the TSA project has obviously attracted attention from different quarters which may include those benefitting from the old pre-TSA order, competitors who lost out in the selection process, un-informed or under-informed commentators, etc. In it all, we have always been and will remain fully committed to the full resolution of any issue surrounding the commercial component of our contract in the overall larger national interest.”

Story by David Oputah