President Bola Ahmed Tinubu has detached the Federal Capital Territory Administration (FCTA) from the Treasury Single Account (TSA). This was revealed by the FCT Minister, Nyesom Wike during a press conference held on Friday in the nation's capital. This strategic move is anticipated to facilitate the advancement and expansion of the FCTA under the leadership of the FCT Minister. The TSA is a Federal Government policy that requires all government revenue to be deposited into a single account, was introduced in 2015 to improve transparency and accountability in government finances. In line with the TSA, all revenue receipts, and all payments by the government, go through a Consolidated Revenue Account, CRA, at the Central Bank of Nigeria, CBN.
It was also reported that the President approved the creation of the FCT Civil Service Commission to allow for staff career progression and more so, the establishment of the Woman Affairs secretariat, which would be commissioned next week..
The establishment of the Commission will give Wike greater control over civil servants’ appointment, promotion, and discipline in the FCTA. Also, effectively paves the way for the Minister to utilize the territory’s Internally Generated Revenue (IGR) for the development of the nation’s capital.
