Central Bank of Nigeria, CBN, has cleared the air on the Remita saga.
The apex bank stated that it does not collect and pay Remita N25 billion a day for services as being widely circulated in recent time.
CBN said it has in its custody all legitimate service fees earned to date by all commercial banks and platform providers in the country as per the engagement contract, adding that there is ongoing discussion with the Federal government to agree on revised fees indicative of current economic realities.
In a document issued earlier in the week, CBN noted that attacks on Remita are machination by few groups who previously took advantage of lapses in government revenue.
The bank also said Remita represents a huge technological export potential which has delivered a true success story on a significant national initiative.
“Remita is not and cannot be a monopoly as any payment transaction on the Payment Gateway Infrastructure always involves other CBN licensed payment ecosystem stakeholders such as banks, payment switches, mobile wallets, POS, local and foreign card schemes, cash agents etc”.

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