President Bola Tinubu has pulled the Federal Capital Territory Administration (FCTA) from the Treasury Single Account (TSA) system. FCT Minister Nyesom Wike announced this decision during a press conference held in Abuja on Friday.
This move will enable the FCTA to utilize its Internally Generated Revenue (IGR) for the development of the nation’s capital. The TSA, a Federal Government policy implemented in 2015 to enhance transparency and accountability in government finances, mandates that all government revenue be deposited into a single account. Under the TSA, all revenue receipts and government payments are channeled through a Consolidated Revenue Account (CRA) at the Central Bank of Nigeria (CBN).
In addition to this, President Tinubu has given his approval for the establishment of the FCT Civil Service Commission, which will facilitate staff career advancement. This Commission will grant Minister Wike greater authority over the appointment, promotion, and disciplinary matters concerning civil servants within the FCTA.
The decision to remove the FCTA from the TSA and the creation of the Civil Service Commission for the FCT will grant Minister Wike enhanced powers and responsibilities.
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