The Nigerian Electricity Regulatory Commission has disclosed that Remita, a payment platform charged the commission over N2 million for the collection of revenue from 2015 to 2022.
Mr Nathan Shatti, NERC Commissioner of Finance, said this at the resumed hearing of the House of Representatives Public Accounts Committee probing alleged revenue leakages and non-compliance with the standard operating procedure chaired by Rep. Bamidele Salam
According to NERC N2,384,002.73 have been collected by Remitta so far from 2015-2022.
The document submitted to the Committee revealed that N2,384,002.73 was deducted as revenue charges from the commission revenue by Remita.
The Commission’s position contradicted the testimony of the Remita Managing Director, Mr Deremi Atanda, who told to the committee that the platform only charged the payer, not Ministries, Departments, and Agencies of Government.
According to Shatti, We generated N65,864,047,971.70 from 2015 to 2022 and Remita charged N2,384,002.73 for the same years.
Giving a breakdown of the revenue generated for the Federal Government through REMİTA in the last seven years, he said, “In 2015, we collected N846 million; in 2016, N1.8 billion; in 2017, N4 billion; in 2018, N4 billion; in 2019, N6 billion; in 2020, N9.7 billion; in 2021, N21 billion; and, in 2022, N17 billion.”
Speaking of the commission source of revenue, he said, “We charged commission from licenses, 1.5 percent of market revenue as a regulatory charge from the market operator, and disposed of the asset.
The Committee complained over the differences in the NERC revenue-generated claim and remita submission record on the amount collected on behalf of the federal government.
The Remita submission to the committee revealed that the Nigerian Electricity Regulatory Commission generated N101,382,815,053.19 on behalf of the federal government.
Ruling on the matter, the Committee directed NERC to supply further records on fees collected and explain the huge revenue gaps recorded in its 2017 and 2018 financial statements
