The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Tuesday disclosed that President Bola Tinubu removed the FCT Administration from the Treasury Single Account, TSA, because he sees governance as part of business.
Wike explained that Tinubu knows that the FCTA can’t operate effectively under the TSA, hence he ordered that the Administration be removed.
He spoke during the commissioning of the newly constructed Transit Way N2 from Central Business District to Wuse District with two bridges to mark Tinubu’s third year in office.
According to Wike: “It’s good to work work mean well for this country, it’s good to relate with people who think about the future of this country and that is why people were talking today and I told them if Mr President didn’t see governance as business, he won’t have done what he did by removing us from the Treasury Single Account, TSA.
“Mr president knew that we could not perform if we still operate under the TSA and that was why when we came on board he said I don’t want to hear complains or excuses, I’m removing you from the TSA so that you will be able to access funds from commercial banks to carry out your projects.”
The minister noted that it would have been difficult for the FCTA to carry out its duties under the TSA.
Wike stressed that Tinubu is leading a revolution that would better the lives of FCT residents and Nigerians in general.
He added: “Under the TSA it would have been difficult because we only have account only with the Central Bank and you can’t borrow money from commercial bank because there is no collateral and you can’t borrow money from the CBN. So it became very difficult, but now, having left the TSA; we can approach the CBN and use our IGR as a collateral and that’s what is happening.
“And this revolution we are talking about was initiated by Mr President and I commend him for that. After all, so many governments have come and gone but why is it that we are still crying that everything in the FCT is not moving?
“How will it move when somebody who knows about governance, sees governance as part of business says we must succeed says this is your problem, this is your impediment, I will move this problem, go and work; and that is why we are working.”
