Mkpoikana Udoma
Port Harcourt — Former Vice President Atiku Abubakar has accused President Bola Tinubu of attempting to “privatise Nigeria’s revenue architecture” through the appointment of Xpress Payments Solutions Limited as a new collecting agent for the Treasury Single Account, TSA, warning that the move threatens economic governance, investor confidence, and national transparency standards.
In a strongly worded statement on Sunday, Atiku said the decision signals a dangerous shift in Nigeria’s public finance management, alleging that the arrangement mirrors the controversial Lagos revenue collection structure linked to entrenched political interests.
“The Federal Government must come clean with Nigerians,” he declared. “The quiet appointment of Xpress Payments Solutions Limited as a new TSA collecting agent is not an administrative decision, it is a dangerous resurrection of the Alpha Beta revenue cartel that dominated Lagos State during and after the Tinubu years.”
He argued that adopting a private intermediary in the core revenue system risks centralising financial power in private hands, with potential long-term consequences for Nigeria’s fiscal stability.
According to him, the precedent from Lagos showed how public revenue could be diverted toward political patronage networks.
“That model created a private toll gate around public revenue and funnelled state funds into the hands of a politically connected monopoly,” he said.
“What we are witnessing now is the attempt to nationalise that same template, moving Nigeria from a republic to a private holding company controlled by a small circle of vested interests.”
Atiku also questioned the timing of the appointment, describing it as insensitive and lacking transparency, especially at a period when Nigerians are grappling with nationwide insecurity.
“To introduce such a policy in the middle of a national tragedy, while Nigerians are mourning loved ones lost to the deepening insecurity crisis, is not only insensitive, it is a deliberate act of governance by stealth,” he said. “When a nation is grieving, leadership should show empathy and focus on securing lives, not on expanding private revenue pipelines.”
He faulted what he described as the secrecy surrounding the appointment process, raising concerns about value addition, economic justification, and lack of legislative scrutiny.
“Why was this appointment rushed and smuggled into the public space without consultation, stakeholder engagement, or National Assembly oversight?” he asked.
“What value does Xpress Payments add that existing TSA channels do not already provide? Who truly benefits from this? Nigeria or an entrenched political network?”
Atiku insisted that Nigeria’s revenue administration must remain fully public, arguing that outsourcing such functions opens the door to abuse.
“This is not reform. This is state capture masquerading as digital innovation,” he said.
“Nigeria does not need more middlemen between citizens and their government revenue. What we need is greater transparency, stronger institutions, and a tax system free from political capture.”
He called for immediate corrective action, outlining five key steps he said are necessary to protect Nigeria’s financial system from political interference.
These include “immediate suspension of the Xpress Payments appointment pending a public inquiry; full disclosure of contractual terms, beneficiaries, fee structures, and selection criteria; a comprehensive audit of TSA operations; a legal framework preventing the insertion of private proxies into government revenue systems; a refocus on national security priorities,” arguing that Nigeria cannot endure economic governance executed “in the shadows.”
Emphasising the stakes for the nation’s financial health, the former Vice President warned that any attempt to commercialise revenue collection outside legal channels would weaken accountability and undermine confidence in Nigeria’s public finance system.
“Nigeria’s revenues are not political spoils. They are the lifeblood of our national survival, especially at a time when insecurity is tearing communities apart,” he said.
“The government must abandon this Lagos-style revenue cartelisation and return to the path of transparency, constitutionalism, and public accountability.”
