The Nigeria Economic Advancement Forum has called on the Federal Government to consolidate on the gains of SystemSpecs-powered Treasury Single Account (TSA) for Africa’s economic prosperity and accountability in governance.
The group, said President Muhammadu Buhari should foster the international adoption of the consolidated Treasury Single Account and Remita to extend success record in Nigeria to other African countries.
It made the call in statement signed by its Executive Secretary and Legal Advisor, Epa Stevens and made available on Sunday in Lagos.
The exemplary anti-corruption posture of the President Muhammadu Buhari-led administration which has produced tremendous results in the public financial management system of the country should also be replicated for economic prosperity of the continent, the statement stated.
The statement reads in part, “As a proudly Nigerian group promoting Nigerian products and in the spirit of fairness, an initiative that saved the country a whooping N10 trillion from over a thousand Ministries, Departments and Agencies (MDAs) in less than four years, should become not just a national legacy but an Africa scheme.
“Undisputedly, the fiscal accountability introduced since the full implementation of the policy in 2015 has spurred the overarching objective of elevating Nigeria to the status of other the most economically advanced countries of the world and it will be noble to have other African countries benefit from it as well.
“We call to mind a statement issued in 2016 where we commended the government for administering the policy for the long-term sustenance of the nation and backing an indigenous company, SystemSpecs, to drive it. The Lagos-state based company rose to the occasion at a pivotal moment in the history of the country by extending the services of its technology, Remita, to drive the policy in a sacrificial manner.
“Furthermore, the interest shown by other African countries like the Republic of Gambia and Kenya in our TSA reinforce the value of the policy to the progress of any developing nation. Recently, a mission from the Republic of Gambia led by the Permanent Secretary of its Ministry of Finance and Economic Affairs, Mrs. Ada Gaye, alluded to a recommendation by the International Monetary Fund (IMF) to understudy the TSA process of Nigeria which included extensive interactions with the government and SystemSpecs.
“During the two-week long process, the Gambians expressed their openness to provide the technology for a seamless duplication of the policy. In addition, news has also circulated about the forthcoming understudying of the policy by Ethiopia and Kenya.”
The economic focus non-government organization however urged the president to remain vigilant against ploy to sabotage the efforts of the government in improving the public financial management system of the country.
“We are witnessing ploys by corrupt entities to sabotage what commenced as an innocuous clamour for FG to reduce the service charge borne by citizens when transacting with it, the civil society organisation (CSO) utilised in advancing the machinations of corruption has upped the ante to encompass discrediting the process.
