“Tinubu Removed FCTA From TSA Because He Sees Governance as Business” — Wike
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that President Bola Tinubu approved the removal of the FCT Administration from the Treasury Single Account (TSA) to enable it access funds more efficiently and deliver infrastructure projects.
Speaking during the commissioning of the newly constructed Transit Way N2 linking the Central Business District to Wuse District, Wike said Tinubu understood that the FCTA could not operate effectively under the TSA framework.
“If Mr President didn’t see governance as business, he wouldn’t have done what he did by removing us from the Treasury Single Account,” Wike said.
According to the minister, operating under the TSA limited the FCTA’s ability to secure financing from commercial banks, making it difficult to fund major development projects.
He explained that with the administration now outside the TSA, the FCTA can leverage its Internally Generated Revenue (IGR) as collateral to access funds needed for infrastructure development.
“Mr President knew that we could not perform if we still operated under the TSA. He removed that obstacle and told us to go and work,” Wike stated.
The minister praised Tinubu’s leadership, describing the decision as part of a broader reform agenda aimed at accelerating development in the nation’s capital and improving the lives of residents.
Wike added that the administration’s ongoing infrastructure projects are evidence of the impact of the policy shift and what he called the President’s business-minded approach to governance.
