Tinubu Excludes FCT from Treasury Single Account (TSA)

President Tinubu has decided to withdraw the FCT Administration from the Treasury Single Account to allow Nyesom Wike-led FCTA to use the territory's IGR for the purpose of developing Abuja.
President Bola Ahmed Tinubu
President Bola Ahmed Tinubu Wikipedia

This pivotal announcement was made during a news conference held in Abuja on Friday. In addition to this substantial shift, Wike revealed that the President had granted approval for the establishment of the FCT Civil Service Commission. The creation of this commission marks a significant step towards enhancing the career progression of the staff within the FCT.

The Treasury Single Account (TSA) policy, initially introduced by the Federal Government in 2015, aimed to centralize all government revenue by mandating that it be deposited into a single account. This measure was instituted to promote transparency and accountability within the government's financial operations.

Following the principles of the TSA, all revenue receipts and government payments are funneled through the Consolidated Revenue Account (CRA) at the Central Bank of Nigeria (CBN).

Furthermore, President Tinubu's authorization of the FCT Civil Service Commission's formation signifies a significant shift in the management of civil servants within the FCTA. This development empowers Nyesom Wike with increased authority over appointments, promotions, and disciplinary matters concerning civil servants within the Federal Capital Territory.

These pivotal changes, including the withdrawal of the FCTA from the TSA and the creation of the FCT Civil Service Commission, undoubtedly confer a higher degree of influence and responsibility upon Minister Nyesom Wike in his role.

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