President Bola Tinubu has removed the Federal Capital Territory Administration, FCTA, from the Treasury Single Account, TSA, effectively giving the FCTA more control over its finances.
The move, which was announced at a news conference on Friday in Abuja will effectively pave way for the FCTA to utilize the territory’s Internally Generated Revenue for the development of the nation’s capital.
In addition to removing the FCTA from the TSA, Tinubu also approved the creation of the FCT Civil Service Commission to allow for staff career progression.
The creation of the FCT Civil Service Commission is seen as another move to boost Wike’s authority. It will give him more control over civil servants’ appointment, promotion and discipline in the FCTA.
The TSA is a government policy that requires all government revenue to be deposited into a single account. The policy was introduced in 2015 to improve transparency and accountability in government finances.
However, the TSA has also been criticized for making it more difficult for government agencies to access their own funds. This has led to delays in payments to contractors and suppliers and has made it more difficult for agencies to carry out their work.
