Without SystemSpecs, there would be no TSA, Okolieaboh hails indigenous Fintech firm

Nigeria’s Director of Treasury Single Account, TSA, Mr Sylva Okolieaboh has applauded SystemSpecs Nigeria for coming through for the federal government in pioneering the TSA, adding that without the organisation, there would have been no TSA.
(L-R) Director of Funds, Federal Ministry of Finance, Muhammed Kudu Usman; Accountant General, Ministry of Finance and Economic Affairs, Republic of Gambia, Momodou Lamin Bah; Director/Coordinator, Treasury Single Account e-Collection, Office of Accountant general, Nigeria, Sylva Okolieaboh and Divisional Head, Public Sector Solution, SystemSpecs, Abayomi Oniku during the Gambia delegation visit to understudy Treasury Single Account in Abuja on Monday
Speaking to newsmen in Abuja during the TSA study tour by Gambia officials on Monday, 13th of May, 2019, Mr Okolieaboh recounted how the indigenous fintech company, SystemSpecs stepped in to save the day in 2015 after President Buhari gave the order to immediately kick start the policy.
His words, “In fairness to Systemspecs, they have facilitated a whole lot because when the president gave the order to commence almost immediately in 2015, it was Systemspecs that stepped in to make that possible. If they were not there, and have not provided their platform at the time, it won’t have been possible.”
While praising the government for their support so far, the TSA director said the policy has received tremendous coverage from organisations down to individuals. He, however, decried the lack of compliance by the Judiciary arm of government and the National Assembly, saying that their none involvement is purely due to political reasons, even as he assured that the federal government would in the coming months, wade in and see how it can be corrected.
Mr Okolieaboh, who exuded pride in the knowledge that the world is watching and appreciates what the Nigerian government is doing in the TSA policy, said “You have seen the Gambia here and all they said about the TSA, we are expecting Ethiopia and other countries are coming. As far as I know and I’ve been part of the TSA reforms for a very long time, there are no other reforms in this country that is led by Nigerians that have made as much impact and gained much traction like the TSA. It is an all-inclusive reform, and everybody is in. We are very much aware that our TSA is one of the most successful in the world, but we don’t go making noise about it.”
Asked about the government’s support in exporting technologies, he said plans are currently underway to facilitate that.
According to him, “We are doing that right now, one of the activities we have lined up is that on Monday in Lagos we would invite all fintech companies that have one thing or the other to do with the TSA, to meet with the Gambian delegation, that’s one sure way of promoting the local technology.”
Earlier, the Gambian Government expressed satisfaction at the TSA and how Nigerians have left an indelible mark in the sands of time with that single feat.
While pointing out that Nigeria was the only choice after getting a reference from the International Monetary Fund who cited Nigeria’s tremendous success in the implementation of the TSA, the Accountant General of Gambia, Mr Momodou Lamin Bah, added that Nigeria and Gambia have come a long way and have over the years built a relationship. He said that the government of Gambia specifically from the office of the Accountant General is interested in renewing the partnership.
“From the ministry of finance, specifically from the office of the Accountant General, I want to request for a renewal of the partnership with Nigeria so that we can share experiences especially since Nigeria is doing better than other countries in the continent,” he said.
Appreciating the delegation from Gambia for clarifying the purpose of their visit, Nigeria’s Minister of Finance, Zainab Ahmed, explained that the account holder is the ministry of finance and transaction is driven by their partner, SystemSpecs through the Remita e-payment platform where remittances are done.
She thanked the minister of finance, Gambia and the team for coming to visit and wished them a fruitful stay.

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