Remita: A fundamental case for legislating indigenous participation and IP ownership in the fintech ecosystem.
By : Chris Uwaje
In today’s hyperconnected world, digital infrastructure has become the lifeline of national development. Just as roads and power once defined industrial growth, so now do data platforms, software systems, and digital frameworks define the knowledge economy. For a country like Nigeria, the implications are profound. Digital infrastructure is no longer a luxury. It is a strategic asset, a national security issue, and an economic necessity.
Back in 2001, Nigeria adopted its first National Information Technology Policy. That document signalled intent, but the digital era has since evolved with breathtaking speed. What once seemed futuristic is now foundational. Nations must choose whether to be passive consumers of foreign technology or strategic producers of indigenous innovation. At stake is not just economic potential, but sovereignty itself.
The global economy is moving toward artificial intelligence, cloud governance, digital currencies, and decentralised systems. Without a deliberate strategy to build and protect local digital capacity, we risk exclusion from critical value chains, and we would continue to depend on external systems we neither control nor fully understand to our detriment.
The Economic and Strategic Case for Indigenous Innovation
Technology is more than hardware and code, it is a nation’s capacity to define its future. Local tech innovations have the potential to transform Nigeria’s economy by creating jobs, opening new markets, and enabling digital self-reliance. From payment infrastructure to education platforms and digital identity systems, indigenous technologies are becoming essential tools for economic resilience and inclusive development.
Consider India, which implemented a deliberate national strategy that helped build a software export industry worth over 200 billion dollars. Nigeria has comparable human capital and an equally vibrant entrepreneurial spirit. With the right mix of strategic investment, policy alignment, and institutional support, our software ecosystem has the potential not only to replicate that success but to surpass it, shaping Africa’s digital future and influencing the global tech landscape.
Indigenous software also plays a vital role in inclusion. Designed with contextual awareness, it helps bridge rural access gaps, address gender inequities, and navigate infrastructural constraints. It ensures that technology serves the needs of all Nigerians – not just the connected elite – while preserving cultural relevance and economic value within our borders.
This has long been my advocacy. At a keynote address delivered seven years ago at the NITRA Quarterly Forum, I called for a national software development strategy and the creation of a technology innovation park to nurture talent and boost productivity. I also urged the allocation of at least 10 percent of the national budget to ICT, noting that Nigeria’s technology ecosystem was, and remains, underfunded and insufficiently protected. True indigenous content must involve products developed by Nigerians that do not require foreign remittance. That principle is more critical today than ever.
A Foundation for What Comes Next
Few examples illustrate the power of indigenous innovation more clearly than the Treasury Single Account (TSA). Once plagued by fiscal inefficiencies, Nigeria now has in place a robust public finance mechanism made possible by a local software solution, Remita.
The TSA was created to address the longstanding problem of fragmented government banking. Before its introduction in 2011, thousands of government accounts scattered across commercial banks facilitated financial leakages and institutional opacity. The TSA’s goal was to consolidate government revenues into a single account at the Central Bank of Nigeria, enforce financial discipline, and eliminate waste.
Since its full implementation in 2015, the results have been near-extraordinary. The TSA helped recover over ₦3 trillion from previously untracked accounts, led to the closure of more than 17,000 redundant accounts, and has saved the country over ₦45 billion in monthly interest payments. Annual overheads from bank charges also dropped by over ₦24 billion, according to reports.
This success story was enabled by Remita, a world-class solution developed by Nigerian software company SystemSpecs. Originally a product of SystemSpecs, Remita has since evolved into an independent company, Remita Payment Services Limited (RPSL). Contracted through a competitive process involving the Central Bank of Nigeria, the Office of the Accountant-General of the Federation, and international consultants, Remita outperformed foreign options. Its performance over the years has demonstrated unequivocally that Nigerian software can deliver significant national impact.
The TSA’s achievements have drawn global attention. Countries such as The Gambia and Kenya have sought to replicate the initiative, seeing in Nigeria a model of digital fiscal reform. TSA is a powerful validation of Nigeria’s indigenous technological capacity and a testament to what is possible when local innovation is aligned with national strategy. Now, a new and transformative policy frontier is emerging in the form of the National Revenue Service (NRS) and its accompanying Revenue Assurance initiative. This reform aims to harmonise revenue collection across all levels of government, reduce tax evasion, and strengthen Nigeria’s capacity for sustainable revenue mobilisation. At the heart of this reform is a coordinated framework that will rely heavily on the foundational digital infrastructure already laid by the TSA.
The TSA would remain the critical bedrock on which the NRS must stand. The centralisation and accountability the TSA brought to public finance are the same principles the NRS must uphold and expand. If Nigeria is to build a credible, secure, and efficient national revenue system, then it must be deliberate about embedding indigenous technology such as Remita, which is tested and trusted, into the very fabric of its evolving.
Indigenous Software as the Bedrock of Digital Sovereignty
Digital sovereignty is a nation’s ability to control its digital infrastructure, data, and technological future. In today’s world, software is at the heart of this control. Without it, we compromise our economy, governance, and national resilience.
The most vulnerable point of a nation’s development and security ecosystem is the financial ecosystem – especially when the Software that powers its processes is owned and controlled by foreign solution providers.
It is important to clarify what we mean by indigenous content. Too often, indigenous content is mistakenly equated with local content. However, the two are not always the same. Local content may refer to digital platforms or solutions developed within Nigeria, yet owned or controlled by foreign corporate entities. In such cases, while the software may be locally deployed, the underlying intellectual property (IP) remains foreign. True indigenous content, on the other hand, embodies both local development and indigenous IP ownership. It is Nigerian in conception, in code, and in control. This distinction is crucial because only indigenous content truly strengthens digital sovereignty, ensures value retention within the local economy, and guarantees long-term control over critical systems.
Nigeria is rich in talent, with over 400,000 developers and indigenous tech firms such as Interswitch, Flutterwave, and Paystack demonstrating global competitiveness. These success stories are not outliers, they reflect the broader potential of our tech ecosystem and the capacity that exists when innovation is supported and scaled. It is therefore imperative to preserve and protect homegrown solutions.
A recent call by the House of Representatives for penalties of almost two hundred billion Naira to be imposed on the indigenous company, Remita on account of an ongoing and yet to be concluded reconciliation process in respect of transactions processed over the past 12 years is puzzling and bizarre, to say the least.
If there are legitimate concerns about aspects of the TSA implementation, then any investigation must be seen to be impartial, transparent, and rooted in verifiable evidence, with findings made available to the public. No individual or organisation is exempt from accountability. However, targeted actions that appear politically motivated risk eroding the very trust that public finance reforms such as the NRS seek to build. These practices not only destabilise confidence in Nigeria’s software ecosystem, but also reveal a tendency to sacrifice long-term digital independence for short-term expediency.
A Legislative Imperative for Indigenous Content and Software Sovereignty
Despite the notable successes, institutional inertia continues to undermine Nigeria’s software potential. Many government agencies at the national and sub-national level still default to foreign software, often driven by outdated preferences and procurement biases. The procurement process remains fragmented, with no clear national standard for evaluating software solutions based on performance, security, and adaptability.
Executive Orders EO003 and EO005, which mandate the use of local goods and services, are yet to be implemented with the consistency and seriousness they require.
The proposed National Revenue Service law offers an unprecedented opportunity to correct these structural flaws. It must not only harmonise revenue collection but also institutionalise indigenous technology as the default infrastructure for digital public finance. Much like the Nigerian Oil and Gas Industry Local Content Development Act of 2010 transformed local participation in energy, a national digital content policy is needed to protect our fintech and govtech industries.
While legislation is key to driving compliance in the public sector, the private sector must be encouraged to voluntarily adopt local technologies as part of broader ESG and national development strategies. Corporate Nigeria can play a crucial role in normalising trust in indigenous platforms, forming innovation partnerships, and integrating Nigerian solutions into their value chains. The shift from import dependence to domestic innovation must be a collective national movement, not a government-alone endeavour.
Equally important is the creation of an Indigenous Software Sovereignty Fund, a dedicated mechanism to support research and development, incubate startups, and scale local platforms that will power the NRS and future national systems.
Years ago, I remarked that SystemSpecs deserved a national merit award for the monumental role it played in harmonising government accounts into a single, technology-driven platform through the Treasury Single Account (TSA). This was not just a technical achievement — it was a profound act of patriotism. At a time when few believed local solutions could drive national-scale reform, SystemSpecs stood firm, offering its homegrown innovation to serve the nation’s fiscal transformation. For over a decade, the company has supported the TSA’s implementation with uncommon dedication, professionalism, and resilience. That contribution should not fade into the background — it deserves formal recognition as a benchmark of what becomes possible when Nigeria believes in Nigeria, and when private enterprise rises to meet the public interest.
The success of the TSA is a demonstration that local technology can solve national challenges. Now, as Nigeria embarks on a broader revenue transformation through the NRS and Revenue Assurance initiative, we must ensure that the lessons of the TSA are not only remembered but also enshrined in the next chapter of reform. This is our chance to cement digital sovereignty as a pillar of national policy. The sovereign code has already been written by Nigerian hands, on Nigerian soil. What remains is the political will to protect it, scale it, and embed it in the future we are building.
In the era of e-Knowledge, time is still running out.
Chris Uwaje, known as the “Oracle of the Nigerian IT Industry,” is a renowned pioneer of Nigeria’s National IT Policy, which led to the creation of NITDA and the country’s National Software Strategy. With over four decades of global IT experience, he has held key roles including Past President of ITAN and ISPON. He is the Founder of Mobile Software Solutions, Chairman of Connect Technologies, and the architect behind major initiatives like the Akwa Ibom State IT Policy and SIT Park. Uwaje is also the author of e-Knowledge – Time is Running Out.
