Former Vice President Atiku Abubakar has criticised the appointment of Xpress Funds Options Restricted as a brand new accumulating agent below the Treasury Single Account (TSA), describing it as a “harmful revival” of the Alpha Beta-style income monopoly that operated in Lagos State for years.
That is contained in a press release posted on X (previously Twitter) on Sunday.
Atiku mentioned the choice, which he alleged was carried out quietly and with out public scrutiny, alerts an try to duplicate on the nationwide degree a income mannequin that created “a non-public toll gate round public funds” and enriched politically linked actors.
In line with him, the transfer quantities to shifting Nigeria “from a republic to a non-public holding firm managed by a small circle of vested pursuits,” warning that the nation is witnessing the nationalisation of a template that beforehand entrenched opaque income practices in Lagos.
He faulted the timing of the choice, describing it as grossly insensitive and an act of “governance by stealth” at a second when Nigerians are mourning widespread lack of lives amid escalating insecurity.
“This isn’t reform,” Atiku insisted. “That is state seize masquerading as digital innovation.”
Final week, the Federal Inland Income Service appointed Xpress Cost Options Restricted, a {financial} know-how firm, as Accumulating Agent below the Treasury Single Account framework.
Performing Managing Director of Xpress Cost Options, Wale Olayisade, lauded the partnership with FIRS, describing it as a milestone that underscores the corporate’s reliability and innovation in fee options. He assured taxpayers of a seamless expertise whereas utilizing the corporate’s platforms for his or her remittances.
The appointment allows taxpayers on the FIRS TaxPro Max platform to make use of Xpress Funds as channel for remitting funds to Federal Authorities via TSA.
In October, the Minister of Finance Wale Edun revealed that billions of naira belonging to the Federal Authorities remained exterior the Treasury Single Account (TSA) till as lately as August 2025.
