Tinubu Removes FCT From Treasury Single Account – Wike

President Bola Tinubu has removed the Federal Capital Territory (FCT) Administration from the Treasury Single Account (TSA), effectively giving the FCTA more control over its finances.

The announcement was made today (Friday) by the FCT Minister, Nyesom Wike, during a press conference in Abuja.

INFORMATION NIGERIA learnt that the new order FCT Administration would have to utilize the territory’s Internally Generated Revenue, IGR for the development of the nation’s capital.

Wike confirmed this during the press conference, adding that the President has approved the creation of the FCT Civil Service Commission to allow for staff career progression.

He revealed that the President also approved the establishment of the Woman Affairs secretariat, which would be commissioned next week.

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“The city not growing as it should, you have projects littered up and down. Projects are awarded without financial backup,” he said.

“Now the central bank cannot give us loans, even the IGR is spent as it comes, you cannot tangibly do anything with it. So I said to Mr. President, if you want FCT to carry out the infrastructural projects then the best is that we must pull out.

“You’ll see from next year, it will be projects up on projects in FCT. What you saw in Port-Harcourt will be a small thing.

“So those crying of insecurity, no light, and no road will be a thing of the past. You will see the road and you will run”.

The minister expressed sadness, however, that the nonexistence of the CSC has made it impossible for directors in the FCTA to attain the position of Permanent Secretary