President Bola Tinubu of Nigeria has removed the Federal Capital Territory Administration (FCTA) from the Treasury Single Account (TSA) effectively, giving the FCTA more control over its finances.
The move, which was announced at a news conference on Friday in Abuja, is seen as a boost to the authority of Rivers State Governor Nyesom Wike, who Tinubu appointed to head the FCTA in January.
However, the Treasury Single Account is a government policy that requires all government revenue to be deposited into a single account but has also been criticized for making it more difficult for government agencies to access their own funds.
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