Tinubu Pulls Wike’s FCTA Out Of TSA

The Federal Capital Territory Administration (FCTA), has been pulled out of the Treasury Single Account (TSA) by President Bola Tinubu.

The move, the President said, would allow Nyesom Wike-led FCTA to use the territory’s Internally Generated Revenue IGR for the development of the nation’s capital.

The FCT Minister disclosed this at a news conference in Abuja on Friday, adding that the President has also approved the creation of the FCT Civil Service Commission.

Osun Defender reports that the last administration introduced the TSA to address irregularities, ensure accountability, curb the incessant number of accounts and enable the tracking of all government revenues.

Former president, Muhammad Buhari had while commenting on the motive behind the policy, said, “When we came into government, we found out that some institutions had hundreds of accounts. How can the Accountant General trace them?

“So, we introduced the Treasury Single Account so that all revenues will be followed and directed to it. This is a very positive way of making sure that revenues can be traced to Treasury Single Account and therefore be accounted for.”