President Bola TinubuPresident Bola Tinubu has pulled the Federal Capital Territory Administration FCTA out of the Treasury Single Account TSA, effectively paving way for the Nyesom Wike-led FCTA to utilize the territory’s Internally Generated Revenue IGR for the development of the nation’s capital.
He said; “The Central bank cannot give us loans, and even the IGR is spent as it comes and you cannot tangibly do anything with it. “I said to Mr. President if you want FCT to really carry out its developmental projects and infrastructure, then it must come out of TSA. We are not a revenue generating agency of the federal government, then what financial leakages are you plugging? The revenue comes in and it will go to the Central Bank of Nigeria CBN and we need money to do projects.
He said for several years, a lot of issues in the FCT were stalled due to lack of political will to see then through. “There is this fear that if I do this, people will kick against it, but it is not personal, it is about the growth of the city, welfare of the civil servants and the interest of the women – our mothers, sisters and wives.