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SystemSpecs Group

“Can a legacy Nigerian software group replace its lost government-payments moat by scaling a diversified TechHoldCo across fintech, HR/payroll, e-commerce and enterprise IT for the African market?”

Founded1992
HQLagos, Nigeria
FoundersJohn Obaro
IndustryInfrastructure / Payments
The story

Founded 1992 as an indigenous Nigerian software house, SystemSpecs became a household name through Remita — the payments engine chosen to power the Federal Government's Treasury Single Account from 2012, which routed a large share of Nigerian public revenue for over a decade. In 2025 the government migrated off Remita to a new Treasury Management & Revenue Assurance System (TMRAS), forcing SystemSpecs to reposition. The group has restructured as a 'TechHoldCo' with four portfolio companies — Remita (payments), HumanManager (HR/payroll), STSL (enterprise IT services) and Whatadeal (lifestyle commerce) — betting on a diversified African fintech + HR software strategy rather than singular dependency on government revenue.

Last 12 months
2025-03
2025-11
2026-05
Product timeline
1992
SystemSpecs founded in Nigeria to develop HR and financial software solutions· founding
2005
Launched Remita, an electronic payments and collections platform· banking
2012
Remita selected as the platform powering the Federal Government's Treasury Single Account (TSA)· banking
2019
Remita PayDay Loans launched to stimulate consumer and SME credit via bank partners· lending
2020
Hosts digital lending stakeholders at Social Media Week in Lagos· lending
2025
Nigerian government replaces Remita as TSA payment gateway after 13 years with new TMRAS platform· pivot
The stack
4 layers disclosed in SystemSpecs Group’s embedded-finance stack
Payments / PSP
Remita (self-operated)
Banking / BaaS
in the full report
Lending
in the full report
Payroll
in the full report
Accounting gap: none
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.