Atiku demands suspension of new TSA agent, Xpress Payments
Former Vice President Atiku Abubakar has called on the Federal Government to promptly halt the engagement of Xpress Payments Solutions Limited as the newly appointed Treasury Single Account collecting agent until the process that led to the firm’s selection undergoes public examination.
In a statement posted on his verified X account, #atiku, on Sunday, Atiku characterized the appointment as a “perilous resurgence” of the Alpha Beta revenue cartel, which he claimed held influence during Bola Tinubu's tenure as Lagos State governor.
He asserted that using Alpha Beta as a revenue collector for Lagos State established a framework that redirected public funds into private accounts to the detriment of the populace.
The statement read in part, “The discreet appointment of Xpress Payments Solutions Limited as a new TSA collecting agent is not merely an administrative choice, but rather a perilous resurgence of the Alpha Beta revenue cartel that prevailed in Lagos State during and after the Tinubu administration.
“This system created a private toll gate around public revenue, diverting state funds into the hands of a politically connected monopoly.
“What we are currently witnessing is an effort to nationalize that same model, transitioning Nigeria from a republic to a privately held enterprise governed by a select group of vested interests.”
Atiku further expressed that implementing such a policy amidst escalating insecurity is insensitive, stating, “To introduce such a policy during a national catastrophe, while Nigerians are mourning those lost due to the increasing insecurity crisis, demonstrates a lack of sensitivity and is a deliberate act of governance conducted covertly.
“When a nation is in mourning, leadership should display empathy and concentrate on safeguarding lives, not on broadening private revenue streams.”
He also raised concerns about the process that led to Xpress Payments’ engagement, pointing out that there was no involvement from the legislature.
“Why was this appointment hurried and concealed from the public without consultation, stakeholder engagement, or oversight from the National Assembly?
“What value does Xpress Payments offer that existing TSA mechanisms do not already deliver? Who genuinely benefits from this? Nigeria or a well-connected political network?
“This is not a reform. This is state capture disguised as digital advancement,” he asserted.
Atiku advocated for increased transparency in government activities, stating, “Nigeria does not require additional intermediaries between citizens and their governmental revenue. What we need is enhanced transparency, more robust institutions, and a tax system free from political influence.”
He subsequently demanded an “immediate halt to the Xpress Payments appointment pending a public investigation," as well as “full disclosure of the contractual conditions, beneficiaries, fee structures, and selection criteria."
He also called for “a comprehensive audit of TSA operations to avert the insidious privatization of revenue collection.”
The former Vice President insisted on “a legal framework, rather than executive shortcuts, that prevents the involvement of private intermediaries in essential government revenue systems."
He maintained that “a shift in national security priorities is essential, acknowledging that a nation under siege cannot afford economic governance carried out in secrecy.”
He concluded by stating that “Nigeria’s revenues are not political trophies. They are crucial for our national survival, particularly in a time when insecurity is fracturing communities.
“The government must reject this Lagos-style revenue cartelization and return to a course of transparency, constitutional governance, and public accountability.”
The Treasury Single Account is a governmental finance reform initiative aimed at consolidating public revenues into a single account to enhance transparency and reduce leakages.
Although the World Bank initially recommended this policy for Nigeria in 2004, it was only implemented at the federal level during Goodluck Jonathan's administration, which mandated all Ministries, Departments, and Agencies to begin partial compliance in 2012.
Implementation began in 2015 after President Muhammadu Buhari instructed all federal revenue-generating agencies to deposit their earnings into the Treasury Single Account (TSA) held at the Central Bank of Nigeria.
Prior to this reform, Ministries, Departments, and Agencies (MDAs) operated numerous bank accounts in commercial banks, a situation that facilitated the misappropriation of public funds, caused delays in remittances, and complicated effective oversight.
The TSA was established to remedy these issues by enabling real-time tracking of government revenues, lowering borrowing costs, and enhancing overall fiscal discipline.
Since its introduction, the system has been recognized for tightening controls over federal revenues, although ongoing discussions continue regarding the involvement of private companies in its management and the transparency of related procurement processes.
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