(Photo: The Union)
The can of worms opened by Senator Dino Melaye on the fraud perpetrated under watch of President Muhammadu Buhari in the implementation of the Treasury Single Account (TSA), may be deeper than explained as the consultants have explained to the President how the 1 percent fee it charged for processing the payments, was shared.
Though Sen. Melaye had alleged that the consultant, using a payment platform known as Remita, pocketed a princely N25 billion within a few days implementing the TSA order, the consultants however claimed that only N3 billion had entered its coffers as earnings from its services.
Dismissing the N25 billion claims, the consultants, knows as System Specs, which chairman is Dr. Christopher Kolade, said the N3 billion it got was its own share after the 1 percent charge had been shared between it, affected banks and the CBN in the ratio of 5 percent, four percent and 1 percent respectively.
The original article can be found at theunion.com.ng