President Bola Tinubu has pulled the Federal Capital
Territory Administration, FCTA, out of the Treasury Single Account, TSA.
FCT minister, Nyesom Wike revealed this at a news conference
on Friday in Abuja.
The decision will effectively pave the way for the FCTA to
utilize the territory’s Internally Generated Revenue, IGR, for the development
of the nation’s capital.
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.
Tinubu also approved the creation of the FCT Civil Service
Commission to allow for staff career progression.
The establishment of the Commission will give Wike greater
control over civil servants’ appointment, promotion and discipline in the FCTA.
The removal of the FCTA from the TSA, as well as the
creation of a Civil Service Commission for the FCT, will give Wike additional
powers as a minister.
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