TSA: Senate Orders Termination of CBN Contract With Systemspecs… Recommends Commission of N7.6billionAyodele Afolabi, AbujaThe Senate Wednesday ordered termination of contract the Central Bank of Nigeria (CBN) had with Systemspecs, an e- revenue collection platform for the Treasury Single Account (TSA) operation. It also directed the CBN to open up the space to other e- collection providers for competition, effectiveness, efficiency and greater robustness. Senate further directed that all agreed fees and payments for e-collection service should not be borne by MDAs but provided and disbursed from a central pool . We wrote to the CBN that we are open to renegotiation and that an all stakeholders meeting be convened. “Two weeks later on October 27, we were instructed by the CBN to refund all fees that have accrued to us in accordance with the contract.