Tinubu Removes Abuja Administration From Treasury Single Account, Allows Wike To Spend Internally Generated Revenue

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, on Friday said that President Bola Tinubu has pulled the Federal Capital Territory Administration (FCTA) out of the Treasury Single Account (TSA).

He noted that the president’s removal of the FCTA from the TSA, a unified structure of government bank accounts that gives a consolidated view of government’s cash resources, would allow the FCT to use the territory’s Internally Generated Revenue (IGR) for the development of the Nigerian capital.

Speaking at a press conference in Abuja on Friday, Wike also said that President Tinubu approved the creation of the FCT Civil Service Commission to allow the progression of staff of the FCT Administration.

Recall that former President Muhammadu Buhari’s administration introduced the TSA to tackle the issues of irregularities, curb the incessant number of accounts, enable the tracking of all government revenues and ensure accountability.