"Those behind the rumour that a single company made N25 billion from charging one per cent of TSA funds that passed through the company's software, may need to return to elementary school to get some lessons in arithmetic," he said in a statement issued by his Special Adviser on Media, Mr Segun Adeyemi, in Abuja, Nigeria's capital.
"This is because in order for one per cent charge to fetch N25 billion, the funds accruing into the TSA must have reached N2.5 trillion.
Yet, the total amount of funds in the TSA to date is still much less than 2 trillion.
"More importantly, at the time the Governor of the Central Bank of Nigeria (CBN) ordered that all monies that were erroneously charged as 'revenue' be returned to the TSA Account late last month, the TSA had less than N800 billion.
"It therefore beggars belief that anyone could attempt to mislead the public by raising a false alarm that a firm made N25 billion in TSA charges."
Mohammed appealed to Nigerians not to allow those who had been funding their lavish lifestyles and encouraging corruption, to the detriment of ordinary citizens and without bothering about national interest.
He said the accusation was to sabotage the laudable TSA programme with contrived lies, dangerous innuendoes and misinformation.
It would be recalled that Fayose , in a statement on Sunday, declared that he would not be part of the meeting the Federal Government was to hold with state governors on the TSA because the policy itself was a fraud against Nigeria and its people as it is aimed at recouping money spent on the last general elections by the APC, as well as raise money for future elections, especially the Kogi and Bayelsa States gubernatorial poll.
Fayose also asked the Federal Government to expose those behind REMITA so that Nigerians would know those
"through whom the All Progressives Congress, APC, is
siphoning Nigerian money to fund Kogi and Bayelsa States governorship election."
He added that System Specs the company that manages TSA made N25 billion.