Adedokun Waliyu 
President Bola Tinubu has pulled the Federal Capital Territory Administration (FCTA), out of the Treasury Single Account (TSA), to pave the way for the Nyesom Wike-led FCTA to utilize the territory’s Internally Generated Revenue (IGR) for the development of the nation’s capital.
Wike, who announced this while briefing reporters on recent developments on Friday, also disclosed that the President has approved the establishment of the FCT Civil Service Commission (CSC), to allow for staff career progression.
Major challenges that have affected the effective and efficient implementation of the treasury single account (TSA) policy include: the inability of the federal government to remit appropriately to the various MDAs; uncertainties underlying federal government inactions and actions, bottlenecks/ bureaucracy, etc
The treasury single account model was introduced to mitigate financial leakages, promote probity and prevent misappropriation of government revenue, and consolidate government accounts in a bid to prevent embezzlement and high-handedness by revenue-generating agencies.
Explaining how he persuaded President Tinubu to remove the FCTA from the TSA, the minister stated that: “the Central bank cannot give FCTA loan, and even the IGR is spent as they come, which you cannot tangibly do anything with it.
