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Politics FG Responds to TSA Fraud Claim- 'Nobody Has Tampered With the Money'



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Nigeria's minister of information and culture, Alhaji Lai Mohammed, has rubbished claims of alleged diversion of funds in the Treasury Single Account, TSA, to bankroll elections in Bayelsa and Kogi States.

“It is understandable that the psyche of those who are making the frivolous allegations concerning the TSA has been badly affected by the impunity that permeated the country under the immediate past administration, when unappropriated funds were freely used to finance elections and the public till was seen as an extension of personal piggy banks," he said in a statement.

“But the lies that have been willfully disseminated by scandalmongers over the TSA cannot and will not fly, because it was precisely to put an end to such impunity that Nigerians voted massively for President Muhammadu Buhari, who has an unblemished reputation for integrity, due process, transparency and the rule of law,’’ he said.

“Those behind the rumour that a single company, Systemspecs, made N25 billion from charging one per cent of TSA funds that passed through the company’s software, Remita, may need to return to elementary school to get some lessons in arithmetic.

“This is because in order for one per cent charge to fetch N25 billion, the funds accruing into the TSA must have reached N2.5 trillion. Yet, the total amount of funds in the TSA to date is still much less than N2 trillion.

‘’More importantly, at the time the Governor of the Central Bank of Nigeria (CBN) ordered that all monies that were erroneously charged as ‘revenue’ be returned to the TSA Account late last month, the TSA had less than N800 billion. It, therefore, beggars belief that anyone could attempt to mislead the public by raising a false alarm that a firm made N25 billion in TSA charges,’’ Mohammed said.

He also appealed to Nigerians not to allow those who have been funding their lavish lifestyles and encouraging corruption to sabotage the laudable TSA programme with contrived lies, dangerous innuendoes and outright misinformation.

The Nation


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