Tinubu pulls FCT out of TSA

PUNCH

President Bola Tinubu has pulled the Federal Capital Territory Administration out of the Treasury Single Account.

This move is expected to pave the way for enhanced progress and growth of the FCTA under the leadership of Nyesom Wike, and give him more control over finances.

The move, which allows Wike greater financial autonomy over the FCT. was announced at a news conference Friday in Abuja.

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.

“The city not growing as it should, you have projects littered up and down. Projects are awarded without financial backup. So many projects as far back as 2002, What is responsible? The government joined the single treasury account, where all accounts will be in the central bank.