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Systemspecs Faults Fraud Allegation In TSA Management

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[caption id="attachment_8033" align="alignnone" width="600"]John Obaro, SystemSpecs CEO[/caption]

SystemSpecs, the owner company of Remita, the e-payment and e-collection software deployed by the federal government to drive implementation of the Treasury Single Account (TSA), has faulted allegations of fraud preferred against it.

The Chief Executive Officer of SystemSpecs, John Obaro, who spoke in Lagos, said it was unfortunate that the company can now be accused of fraud, instead of being supported and encouraged as an indigenous software company.

He noted that asides from the fact that patronising indigenous software companies by the government will assist its objective of providing employment to talented Nigerian youths, there would also be the conservation of the huge foreign exchange currently lost when paid as yearly software maintenance fee to foreign software providers and the retention of 100 per cent maintenance fees within the Nigerian economy.

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Obaro noted that while Naira’s exchange rates against major currencies have almost doubled in less than a year, “we still have to source enormous foreign exchange to service the huge foreign-owned software assets in use by government at all levels and across the private sector.

“The beneficiaries are those countries that have nurtured their software industry and caused us to be dependent on them even in critical areas of our national life.

“Let us imagine what would have happened if Government Integrated Financial Management and Information System (GIFMIS) and IPPIS at OAGF are powered by indigenous software and not one from Estonia and USA respectively. If ITAS at FIRS is an indigenous software and not from Canada; if Bank Verification Number (BVN) platform deployed by NIBSS is powered by an indigenous software and not from Germany; if Real Time Gross Settlement (RTGS) platform at CBN is powered by indigenous software, and not one from Sweden,” he said.

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