By removing the Federal Capital Territory from the Federal government’s Treasury Single Account, President Bola Tinubu has given the FCT Minister, Nyesom Wike freedom to generate revenue and also spend on projects.
Mr. Wike disclosed this during a press conference Friday in Abuja saying the development will enhance rapid development of the FCT.
Tinubu also approved the creation of
a Civil Service Commission for the FCT, giving Wike sweeping powers in his task as FCT minister.
Former President Muhammadu Buhari established the TSA in 2015 requiring all government agencies to deposit revenue into a single account.
All revenue receipts, and all payments by government, go through a Consolidated Revenue Account, CRA, at the Central Bank of Nigeria, CBN.
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