OrderPaperToday – SytemSpecs, operators of the ‘Remita’ platform for transfer into the Treasury Single Account (TSA) has said that although it is sad by the loss of its contract term with the Central Bank of Nigeria (CBN), it respects the resolution of the Senate.

The company also said that it had been vindicated of any wrongdoing by the ruling of the Senate on Wednesday.

This is contained in a statement issued by Sola Fanawopo, Managing Director, eMaginations, Media Consultants to SystemSpecs and made available to the News Agency of Nigeria (NAN) in Abuja.

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While pledging commitment to actualising the goals of the TSA, SystemSpec stressed that the resolution of the Senate had shown that the company and it software had done nothing wrong.

The company stressed that although its elated with the non-indicting resolutions of the Senate, the terms of the reward was quite debatable.

“We are irrevocably committed to indigenous technology for National transformation.

“It is fulfilling to note that the Senate report did not accuse Remita of under-delivering on the substance of the contract but that the disagreement has only been on the commercial terms of our contract.

“The Senate Committee further recommended that SystemSpecs’ efforts should be rewarded – albeit on a scale which is quite debatable,” the statement said.

SystemSpecs insisted that since its inception 24 years ago, it had always carried out projects with sound ethical principles and have walked away from projects that are below industry standards.

The statement said that Systemspecs had been careful to respect the terms of the contract with the Federal Government of Nigeria on the TSA project and had even gone beyond the call of duty; adding that the TSA project and contract was not only for the transfer of money from commercial banks to the CBN.

“For emphasis, we wish to state that the TSA project goes beyond revenue collections and extends to payments, accounting information exchange and update,

“It cuts into full real-time integration with GIFMIS, integration with the national financial services ecosystem enabling payers across multiple platforms,

“It provides round the clock support user support for 50,000 FGN TSA users of Remita platform, among others,” the statement said.

The company further clarified that e-collections schemes anywhere in the world were a product of negotiations based on scope and complexity of tasks involved.

It added that the subsisting one per cent charge eventually agreed by the CBN and commercial banks was a good starting point which was subject to negotiations in view of emerging realities.

According to the statement, the negative attention which the TSA project had gootten could have been necessitated by competitors who only emphasised money collected and de-emphasised work done.

“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.

“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,” it said.

SystemSpecs therefore thanked the Senate for its avowed commitment to preserving the national interest and thanked the government for entrusting such a significant national IT project to an indigenous firm.

It should be recalled that the Senate had directed the revocation of CBN contract with SystemSpecs on the TSA project and directed that the company be paid N656 million as against the initial one per cent charge.

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