The Nigerian House of Representatives has directed Remita, the government’s main payment platform, to refund N182.77 billion to the Federal Government. This follows a forensic audit that uncovered significant transaction leakages from the Treasury Single Account (TSA) dating back to 2015.
The order, issued by the Public Accounts Committee (PAC) after months of investigation, is based on findings from Seyi Katola & Company, a chartered accounting firm. The audit revealed that Remita was responsible for N3.42 billion in under-refunded processing fees, N101.85 million in unpaid acquirer fees, and N179.25 billion in unremitted collections. All amounts include interest, calculated at the Central Bank of Nigeria’s Monetary Policy Rate.
Committee chairman Bamidele Salam emphasized that the decision was supported by evidence from Remita and other stakeholders. “This effort supports transparency and is significant for Nigeria’s fiscal accountability framework,” he said.
Remita, operated by SystemSpecs Ltd, has served as the primary payment gateway for the government’s TSA since 2012, handling revenue collection and remittance for ministries and agencies.
The government is now integrating Remita with the new Treasury Management and Revenue Assurance System (TMRAS) to improve transparency and efficiency. While Remita will continue as an approved payment gateway, TMRAS will allow multiple secure payment providers to operate, aiming to liberalize and strengthen revenue collection.
Some commercial banks have already complied with similar refund orders, and the PAC has called on other service providers to do the same.
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