In a significant move, President Bola Tinubu has given his nod to the exclusion of the Federal Capital Territory Administration (FCTA) from the Treasury Savings Account (TSA). This decision aims to empower the FCT to carry out vital developmental projects and provide much-needed infrastructure.
The announcement was made by FCT Minister, Nyesom Wike, during a press conference held in Abuja yesterday.
Wike further elaborated that the President has also sanctioned the creation of the FCT Civil Service Commission and the establishment of the FCT Women Affairs Secretariat, with a Mandate Secretary set to head it.
Wike expressed his persuasive success in convincing President Tinubu to approve the removal of the FCTA from TSA, emphasizing that the FCTA doesn’t serve as a revenue-generating agency for the federal government.
He stated, “The Central Bank cannot provide us with loans, and our internally generated revenue (IGR) is utilized as it comes in, rendering it difficult to initiate tangible projects. We can’t approach the CBN for funds, nor can we rely on commercial banks, as they require repayment terms.
Therefore, the only viable option was to extract ourselves from TSA. This is the sole way we can thrive. From the coming year, you can expect a flurry of development projects in the FCT, transforming Abuja into something exceptional. Today marks one of the happiest days for us, and we extend our gratitude to Mr. President for his foresight.”
Additionally, Wike emphasized that the establishment of the FCT Civil Service Commission would significantly enhance the career progression of civil servants, offering them the opportunity to rise beyond the Director level to attain the position of permanent secretary.
Wike emphasized his willingness to collaborate with President Tinubu, citing the President’s capacity and political will to undertake actions that others might shy away from.
“The challenges facing this country are, in part, rooted in leadership. Many are hesitant to take action for fear of displeasing some. However, it’s crucial to be guided by both the law and one’s conscience, recognizing that not every action will garner universal approval,” he concluded.
