The public accounts committee of the House of Representatives has accused the Central Bank of Nigeria (CBN) and commercial banks collecting revenue for the government of colluding to share the money made from Value Added Tax paid on Remita by customers.

Chairman of the committee, BAMIDELE SALAM also accused the apex bank and the Office of the Accountant General of the Federation of illegally paying about 15 billion naira to Remita without any formal contract.

He described the payment as illegal as there was no budget provision for it.

Also speaking at the hearing, the Chief Accountant of the Treasury Single Account (TSA) Department who represented the Accountant General for the Federation, OYEWOLE ADEWALE, accused the CBN of not honouring its letters to reconcile the revenue accrued to the country through TSA.

The Director, Remita Payment Services Limited, ADEREMI ATANDA who gave the summary of the TSA collection said that 10, 20, and 50 percent were shared among CBN, commercial banks, and Remitta.