e- System Transacts N125bn Weekly- CEO

Electronic payment
platform, Remita, currently transacts about N500 billion every four weeks.
The Chief Executive Officer of the System-Pecs, Mr John Obara said this recently.
He said that the unveiling of the new features built into the e-payment solutions would act as a one-stop system, pointing out that the system will also act as  multibank, nuclear e-payment, e-collections, e-pay roll and e-schedules platform.
According to him, the system is expected to provide both individuals and organisations with an easy and intuitive user interface.
The system which he said was adopted by the Central Bank of Nigeria as the e-payment and e-collections platform of the Federal Government had been used by all commercial banks and others in the country.
He further informed that the platform came in full force some ten years ago when the Pension Act was enacted, adding that its aim then was to support the Pension Fund Administration.
He also explained that the platform, e-collection, has made the task of fund collection and transfer for businesses and government easier.
He was emphatic that its charges are lower compared with other platforms which he said charged upto 3.5 per cent of the job they handle.
The Group Head Remita, Dr Demola Igbalajobi, showcased how simple the use of the system is, adding that it embedded in the solution, as the poor-print is growing wider by the day.
However, he said that working with different segments of the economy was another of its success story other than its acceptance by the Federal Government.

Members of the Editorial Board of the Rivers State Newspaper Corporation, listen to the VC, Rivers State University of Science and Technology, Professor Barineme Fakae (right) at the computer hall of the University, during a faculty visit, recently. Photo: Chris Monyanaga