FCT seeks CBN support for Security Trust Fund

Minister of FCT, Senator Bala Mohammed, has
solicited the support of the Central Bank of Nigeria for
the establishment of FCT Security Trust Fund to boost
crime-fighting in the Federal Capital Territory.
Speaking when the CBN Governor, Mr. Godwin
Emefiele, paid him a courtesy visit in his office on
Friday, Mohammed said that the apex bank could assist
the FCT Administration to work out a good financial
framework for the operation of the trust fund.
He stated that the CBN could assist the FCTA through
the window of its corporate social responsibilities, noting
that the Administration is already taking measures towards
establishing its own Internal Revenue Board.
According to him, when operational, the board would
enable FCT to float bonds as part of measures to
strengthen it to operate the security trust fund, adding that
his administration was doing its utmost to meet the
expectation of Nigerians.
He said, “I know the CBN has been the front-runner in
terms of giving corporate social assistance so that people
will sleep with their eyes closed. We are doing so well
and we want to make sure we establish an institution that
will access funds from security services.
“With the trust fund, the FCT Administration will be in
proper stead to lend its support to security organizations so
that they can provide effective surveillance, monitoring and
closed circuit television networking.”
The minister added that this would ensure that corporate
institutions and individuals comply with the security
protocol.
Mohammed stated that the FCT Administration would
approach the CBN for the needed support once the
security protocol is approved “and we will establish a trust
fund that you will be part and parcel of.”
The Minister called on the CBN Governor to lend more
support to the FCT in the area of financial services so
that the paltry sum the Administration was getting as
Federal allocation could be augmented by its internally
generated revenue and other legitimate sources.
The planned FCT Revenue Board, he said, was
conceived as a mechanism for more effective revenue
collection.