Reps Inquiry Access Bank, Others Over N11.632 trn FG Revenue Collected

Published

8 months ago

February 20, 2024

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Reps Inquiry Access Bank, Others Over N11.632 trn FG Revenue Collected—-The House of Representatives has queried Access Bank, Citi Bank, Ecobank and Fidelity Bank over N11.632 trillion revenue collected on behalf of Federal Government through REMITA platform between 2015 and 2022 fiscal years.

Rep. Bamidele Salam, Chairman, House Committee on Public Accounts, issued the query at the resumed investigative hearing on ‘alleged revenue leakages through REMITA platform in Abuja.

The investigation also covered non-compliance with standard operating procedure and other allied service agreement.

The committee demanded for all the agreements signed between all the participating domestic banks and Systemspec/REMITA during the period under review .

According to the records obtained by the News Agency of Nigeria (NAN) Access Bank collected total sum of N2.661 trillion for 3,502,486 transactions between 2015 and 2022.

According to Access Bank record submitted to the Committee, a total sum of N2,660,974,062,151.62 revenue was collected for the period under review.

Also, the sum of N858,734,455.99 fee was earned for the service rendered.

On its part, Citi Bank collected the sum of N643,427,225,110.96 between 2016 and 2022.

According to Citi Bank record submitted to the Committee, the sum of N2,435,932.34 fee was earned for total of N34,656,636,415.24 transactions carried out in 2016.

Also, N9,134,312.05 fee earned for total of N61,023,589,404.01 transaction carried out in 2018.

The bank however, failed to disclose the fees earned for 2017, 2019, 2020, 2021 and 2022 fiscal years, respectively.

Records further showed that Ecobank collected the sum of N1,480,576,309.08 from 1,557,487 transactions carried out between 2015 and 2022.

From the amount, Ecobank earned the sum of N253,848,598.05 fees in the period under review.

Available records on the transactions carried out by Fidelity Bank showed that the sum of N6.847 trillion was collected on behalf of Federal Government in 11,696,547 transactions carried out between 2015 to 2022.

From the transactions carried out, the bank generated N789,294,408.86 fee for the period under consideration.

Addressing the banks’ Representatives, the committee requested for all the agreements signed by the Banks with Systemspec/REMITA to collect the revenue on behalf of Federal Government for the period under review.

The lawmakers also demanded for breakdown of Value Added Tax (VAT) and Withholding Tax (WHT) collected within the period and evidence of payment into relevant government coffers.

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JUST IN: Minister Adebayo Adelabu WhatsApp Number Hacked [DETAILS]

Published

60 mins ago

October 4, 2024

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•Minister Of Power, Adebayo Adelabu WhatsApp Number has been Hacked.

THECLOUDNGR The WhatsApp number of Nigeria’s Minister of Power, Adebayo Adelabu, has reportedly been hacked, prompting a warning from his spokesperson, Bolaji Tunji.

The announcement was made in a brief notice sent to the Daily Post by Tunji on Thursday night.

Tunji urged Nigerians to ignore any requests for money or financial assistance originating from the compromised phone number, stating, “HM of power number has been hacked on WhatsApp. Kindly disregard any appeal for money or any assistance for financial support through the number 08022901928.”

This incident follows closely on the heels of similar security breaches involving other government officials.

Just six days prior, the WhatsApp number of the Minister of Education, Prof. Tahir Mamman, was hacked, and earlier, the same fate befell the Minister of Sports Development, Senator John Enoh.

TCN recalls that the WhatsApp number of the Governor of Akwa Ibom State, Umo Eno, in August was also hacked by fraudsters, leading to an attempt to defraud several of his contacts.

The incident came to light when some individuals on the governor’s contact list received messages from his WhatsApp number, requesting that money be sent to a specified account with a promise of a refund later.

In a related incident, Osun State Government, in July issued a public alert on the security breach of Governor Ademola Adeleke‘s official telephone number.

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Politics

Gov Sim Fubara Calls Out IG Of Police, Insist LG Election Must Hold (VIDEO)

Published

1 hour ago

October 4, 2024

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Gov Sim Fubara Calls Out IG Of Police, Insist LG Election Must Hold (VIDEO)—-TCN reports that Simanalayi Fubara, the Governor of Rivers State has told the Inspector General of Police, Kayode Egbetokun that he would have to shoot him if he tries to stop the local government election coming up in the state on Saturday.

Fubara who spoke angrily in the early hours of today noted that the IGP has been acting unprofessional because of his relationship with ‘One man’ who claims to be in control of Rivers state.

The governor blasted the IGP for attempting to stop election from holding in the state despite the supreme court ruling that said local government chairmen must be elected across every state in Nigeria.

Although there was a court order stopping that stopped INEC from releasing voters register to Rivers state electoral commission, Fubara affirmed that they don’t need voters register and security from the police to conduct the local government election.

He however insisted that the local government election must hold.

WATCH VIDEO BELOW

https://x.com/emmaikumeh/status/1842060397236359542

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