SystemSpecs, the technology provider of the Federal Government of Nigeria’s Treasury Single Account (TSA) policy, has expressed its readiness to transform other African countries with the strategic deployment of its solutions.
Demola Igbalajobi, divisional head, Payment Gateway and Infrastructure, said penetrating other markets across the continent was principal to the activities of SystemSpecs’ session.
“Over the last few years, SystemSpecs has actually been looking at Africa as the next frontier for us, we have been engaging a few governments in Africa on TSA based on our experience in Nigeria. So, we are ready to deploy our solution within a matter of weeks to any country that is ready to adopt our payroll payment gateway for their TSA,’’ Igbalajobi said.
He made this known at a meeting between a Gambian delegation that had come to understudy Nigeria’s TSA, and key players in Nigeria’s Fintech sector on Monday in Lagos.
The divisional head of SystemSpecs, however, admitted the varying nuances of each country and the criticality of obtaining a full understanding of these processes to the successful deployment of the technology.
According to Igbalajobi, SystemSpecs is no stranger to these instances and have demonstrated the ability to acculturate over the years. ‘’For any country you go to, you must understand what they have, they might have a different ERP system, different ethnics but the concepts are similar because they all work with World Bank, IMF guidelines and suggestions.
“But the first part is to understand what they have, beyond that to deploy after we understand their needs will take us a reasonable time that is not too long,’’ he said.
Meanwhile, Sylva Okolieaboh, director of TSA, Office of the Accountant-General of the Federation (OAGF), had said that the centralisation of multiple bank accounts through the implementation of the TSA currently saved the Nigerian government over N45 billion monthly on interests.
According to Okolieaboh, the Gambians came to Nigeria because they have discovered that the country has made a lot of progress in implementing the TSA coupled with a piece of advice by the International Monetary Fund (IMF) to come. “We have been sharing our experiences with them. We have also brought them here to Lagos to meet with key players in the payment sectors,” he said.
Speaking with newsmen on the sidelines of the meeting in Lagos, the TSA director said the Nigerian government was ready to support the Gambia to ensure a successful TSA implementation in the West African country.
According to Momodou Lamin Bah, a key member of the Gambian delegation and Accountant General of the country, the Gambian delegation is in Nigeria to understudy the TSA, which the Federal Government of Nigeria has implemented over the past few years.
They have also reviewed some literature from the IMF and have also used Nigeria’s experience as a case study on their capacity building and Public Finance Management (PFM), he said.
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