Saraki: No Amount of Blackmail will Stop N25bn TSA Probe

Senate President Bukola Saraki has said no amount of intimidation will stop the upper legislative chamber from investigating the alleged N25 billion Treasury Single Account (TSA) fraud.

Saraki was reacting to a motion moved by Senator Dino Melaye (APC, Kogi West) on Tuesday over what he described as a newspaper article,  allegedly blackmailing the Senate for pointing out the alleged fraud.

He said the assembly would not relent in carrying out its constitutional duties, including pointing out any action that would be detrimental to Nigerians, reported the News Agency of Nigeria (NAN).

“No amount of either blackmail or intimidation will stop us from doing the work we have to do.
“We have a responsibility here to ensure that there are no leakages in government funds and if there are, we will call the attention of the public and do whatever it takes to salvage the situation; it is our responsibility.

“The fact about the TSA will come out and everybody will have opportunity before the committee to state the fact, the facts will speak for themselves,” he said.

Saraki said the assembly would expedite action on the inauguration of standing committees to enable it begin its oversight function fully.

Earlier, Melaye said his attention was drawn to the write-up accusing the Senate of working against President Muhammadu Buhari’s effort to implement TSA.

He expressed concern that the writer could conceive such an idea in spite of the National Assembly’s resolve to work with Buhari in fighting corruption.

Melaye recalled that it was the assembly’s stand on the alleged TSA fraud that led SystemSpecs to refund the one per cent it collected from mopped up funds to Central Bank of Nigeria (CBN).

“The writer said we are against the change agenda of  the president because we raised the abnormality going on with the implementation of the TSA.

“We did not at any time in this hallowed chamber implicate President Muhammadu Buhari of being involved in TSA fraud.

“We will not stop carrying out our legislative duties for fear of being blackmailed.

“The motion moved last week had two prayers. The first thing we did was to thank the president and commend him for the implementation of the TSA, and for anyone to say the Senate is fighting the president is myopic, parochial and unacceptable.

“I have a letter here that I am going to lay with this paper, written by the Director, Banking and Payment of CBN to the Managing Director of SystemSpecs.

“The CBN categorically stated that they should remit the one per cent they collected.
“I also have a letter here by the managing director of that company to the Accountant General of the Federation and the governor of CBN which have completely buttressed and elicited our decision last week.

“So for people to blackmail us as irresponsible, it is not acceptable to me and the Senate.
“Never would we allow blackmail and political and economic bigots to destroy the people. We are for the people and we will stand in defence of public interest,” he said.

The write-up and letters cited by Melaye were referred to the Senate Committee on Ethics, Privileges and Public Petition to be returned to Senate in one week.

However, in presenting the correspondence from the CBN and SystemSpecs, Melaye failed to state that the letter by central bank directing that the processing fee of N7.63 billion (not N25 billion) must be refunded by its beneficiaries and the subsequent compliance with the directive was carried out on October 27 and 28, a clear two weeks before his motion was introduced on the floor of the Senate.

He also failed to acknowledge that the figures, representing the TSA transfers and processing fee, he freely bandied as part of his motion, were grossly exaggerated

.Investigations, which were confirmed by the CBN, showed that total TSA transfers stand at N1.5 trillion, not N2.5 trillion as alleged by Melaye.

Furthermore, the commission paid and refunded by its beneficiaries, comprising the central bank, 20 commercial banks and SytemSpecs, was N7.63 billion, not the N25 billion paid in fell swoop, as alleged by the senator.

The Senate, through a motion raised by Melaye, had last week raised the alarm that the sum of N25 billion was paid to one e-collection firm, Remita, in one day as one per cent of monies transferred to TSA.

It also directed its Joint Committee on Finance, Banking and other Financial Institutions and Public Accounts to carry out a holistic investigation into the matter and report back in two weeks.