Wike Forever in Your Faces as Tinubu Removes FCTA From TSA

In a significant policy change, President Bola Ahmed Tinubu has approved the exclusion of the Federal Capital Territory Administration (FCTA) from the Treasury Single Account (TSA), a decision intended to accelerate infrastructure development and enhance governance efficiency in Abuja.

The announcement was made by the President during a meeting with stakeholders from the FCT and is part of broader efforts to provide the FCTA with increased financial autonomy. The TSA, established in 2012 to consolidate government funds and improve transparency, has faced criticism for limiting the FCTA’s financial flexibility, which has hindered essential projects.

FCT Minister Nyesom Wike, a strong advocate for this exemption, pointed out the difficulties caused by the TSA. He noted that the FCTA found it challenging to access funding for significant infrastructure projects because it could not obtain loans from the Central Bank of Nigeria (CBN) within the TSA framework. Furthermore, the FCTA’s internally generated revenue was inadequate to support large-scale initiatives, resulting in delays for critical projects like the Vice President’s official residence.

With the TSA exemption, the FCTA will now have direct control over its finances, the ability to seek loans from commercial banks, and the capacity to utilize its internally generated revenue for development projects. This newfound financial independence is anticipated to expedite the resolution of stalled projects and improve public services, including healthcare, education, and road infrastructure.

President Tinubu praised Minister Wike for his proactive leadership and noted that the FCTA’s new financial autonomy would enhance governance efficiency in the capital. He urged leaders to focus on achieving tangible outcomes instead of getting bogged down by bureaucratic hurdles, stressing the importance of prioritizing development to improve the quality of life for FCT residents.

In addition to removing the FCTA from the TSA, President Tinubu also endorsed the creation of the FCT Civil Service Commission, which will oversee career development for FCTA employees, enabling them to progress through the ranks and take on essential leadership roles within the administration. This initiative is expected to enhance the effectiveness of the FCT civil service and improve service delivery.

These pivotal decisions highlight the administration’s dedication to promoting rapid development in Abuja. By removing bureaucratic barriers and empowering local governance, the government aims to make the FCT a model of efficient urban development and public service delivery.