I have read this trend and have a few angry comments ........
In as much as I think FGN should honor her agreement and pay up what was agreed till date, I think all those that were involved in the agreement on the FGN side should be arrested.Do we know how much 1% of FGN funds is worth? so far they have not started collections, all they are doing now is sweeping funds from Banks to CBN and they have charged 8 billion. They were to do Collection, payments and sweeping. Sweeping is the least profitable of all the tasks.CBN has guidelines on epayments, no payment is without cap why should FGN payment be capless. Why should CBN have a share in the fee?
The problem with Nigerian Companies is we allow blood corrupt politicians and individuals who have influence to scata our reputation because we want to make it big overnight.I know some pple will come with an argument that remita has been around for 20 years.Were they doing payment for 20 years? remita was known for payroll until they stuck a deal with Wema bank. What is Remita annual Profit in the last 3 years , I doubt it is up to 8 billion? How do u make 8 billion on one transaction and you are happy? this kinda of money should make you scared and call for a renegotiation or downward review of the fees. How do u decide to take out major players in the industry and expect not to be hunted.
For me, Remita brought all this woes on themselves by being greedy. Advice for Startups, don't bully bullies, find your niche and gradually work your way. As far back as last year january, remita was busy taking over Interswitch and other players Govt businesses all over the place with CBN "backing". As at that time Interswitch had invested millions deploying infrastructure in MDAs like Customs, Firs, NPA. Remita did not have a working system in place but still disrupted payment in the MDAs. why the big bois were begging to have the crumbs from the Remita table.
I always knew this arrangement would not work, the only logical thing for remita is to go to court to get their 1% charge for the 2 months of work and honorably walk away.