Local govts should go for TSA, says SystemSpecs chief

July 07, 2017  |   In The News,Press Room  

The Treasury Single Account (TSA) should be introduced at all cadres of government including the local government, SystemSpecs Executive Director, Adedeji Olowe has said.

Speaking at the 5th Annual Christopher Kolade Lecture on Business Integrity in Lagos, he said the TSA, has great benefits which should be spread across the three tiers of government.

He said that SystemSpecs has continually promoted openness and transparency in both government and public sector, with its Remita, the e-payment and e-collection software deployed by the federal government to drive the TSA.

According to him, the creation of an electronic filing through the Remita platform has simplified tax payment. Also, a number of our organisations already use Remita to pay salaries, pension funds and others.

Olowe said that the company also launched a mobile App, Remita Mobile, which allows bank customers to see all their bank account balances at once. The application empowers people to view their bank balances on one screen, make payments from and to various bank accounts including microfinance banks. It is also meant to settle various bills to Federal and State Government agencies as well as other billers and allow users stay in firm control of their finance.

Olowe said the event was meant to talk about integrity, governance and ethics in business. “SystemSpecs is one of the partners to the convener, and he is our Chairman. His values are some of the values we uphold in the organisation. Everyone acknowledges that the lack of ethics, governance and integrity are what have taken Nigeria to where we are today and such have to change,” he said.

He explained that Nigeria is endowed with natural resources and quality of human but still is still backwards because money from its natural resources are not being put to good use.

“When we talk about corruption, it is not just about the public sector, the private sector is also to be taking into consideration. For us, in SystemPecs, we are focused on integrity, governance and ethics,” he said.

Asides the standard industry security measures which have been built into the app, Remita has specific security layers that guarantee the integrity of all access and transactions, including Personal Security Number, fingerprint authentication, One-Time Password Verification, among others.

Speaking at the event, the convener, Christopher Kolade, said that by the time Lecture on Business Integrity was launched, he had expected that the corruption ward would have been won. “This is the fifth annual lecture on integrity. You need to listen to experience and change of ideas. We want Nigeria to stand out and be known for integrity. Nobody wants to celebrate corruption,” he said.

Source: The Nation

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