The Senate on Wednesday received the report of the Joint Committee on Finance, Public Accounts & Banking, Insurance & other Financial Institutions which was asked to investigate the Abuse & Mismanagement of the Treasury Single Account (TSA).
After amending the recommendations of the committee, the senate resolved to ensure the following:
- Excess payment made outside what was officially fixed by the Central Bank of Nigeria (CBN) should be refunded
- The CBN should identify culprits in the contracts & recommend them for prosecution.
The report was presented by Senator John Owan Enoh (Cross River Central).
The Senate had on November 11, 2015, raised alarm over alleged payment of N25 billion to one e-collection firm, SystemSpecs, owners of REMITA, in one day as one per cent of monies transferred to TSA.
It also directed its Committee on Finance, Banking and other Financial Institutions and Public Accounts to carry out a holistic investigation into the matter and report back.