LINATV NEWS PRESIDENT TINUBU PULLS FCTA OUT OF TSA… EMPOWERS WIKE TO GENERATE IGR

As part of plans to effectively pave way for the Federal Capital Territory Administration (FCTA) to utilize the territory internally generated revenue (IGR) for the development of the nation’s capital, President Bola Tinubu has pulled the FCTA out of the Treasury Single Account (TSA).

It should be noted that, the TSA, a Federal Government policy that requires all government revenue to be deposited into a single account, was introduced in 2015 to improve transparency and accountability in government finances.

In line with the TSA, all revenue receipts, and all payments by government, go through a Consolidated Revenue Account, CRA, at the Central Bank of Nigeria, CBN.

The action according to President Tinubu would allow the FCTA under the FCT Minister, Nyesom Wike to use the territory’s Internally Generated Revenue IGR for the development of the nation’s capital.

Speaking during a news conference on Friday, Wike also disclosed that the President has approved the creation of the FCT Civil Service Commission.

This he said would allow the progression of staff of the FCT Administration.

Findings have it that, the removal of the FCTA from the TSA as well as the creation of the nation’s capital Civil Service Commission, would give Wike additional powers as a Minister.

Lina TV gathered that Civil servants in the territory had complained of the effects of the absence of such Commission for their career progression.