President Bola Tinubu on Friday officially exempted the Federal Capital Territory Administration (FCTA) from the Treasury Single Account (TSA) framework in a landmark move to empower the FCTA and support the development of the nation’s capital.
This significant decision, aimed at enhancing the FCT’s financial autonomy, was disclosed by Nyesom Wike, the leader of the FCTA, during a news conference held in Abuja on Friday.
Wike stated that President Tinubu recognized the importance of utilizing the FCT’s Internally Generated Revenue (IGR) for the purpose of advancing the development of the Federal Capital Territory. This exemption from the TSA framework will provide greater flexibility and autonomy to manage and allocate resources for the capital’s growth and improvement.
Furthermore, Wike unveiled another crucial development, revealing that President Tinubu had granted approval for the establishment of the FCT Civil Service Commission. This establishment is expected to play a pivotal role in facilitating the progression and development of the FCT Administration’s staff.
