May 29, (THEWILL)- The Federal Government, on Tuesday, said it has resumed its social intervention scheme of conditional direct N75,000 cash transfers to 15 million households nationwide to tackle the impact of inflation.
Minister of Finance, Wale Edun, disclosed this on Tuesday, at a ministerial sectoral briefing to mark the first year in office of the President Bola Tinubu administration in Abuja.
THEWILL recalls that President Bola Tinubu had in November 2023, launched the conditional cash transfer programme targeted at 15 million households across the country to receive N75,000 within three months.
However, the President, on January 12, suspended all social programmes administered by the National Social Investment Programme Agency (NSIPA) for six weeks, as part of a probe of alleged malfeasance in the management of the agency and the scheme. This was followed by the suspension of Betta Edu as the Minister of Humanitarian Affairs and Poverty Alleviation on January 8.
The intervention programmes affected include the N-Power, the conditional cash transfer scheme, the government enterprise and empowerment programme, and the home-grown school feeding initiative.
To revamp the programme, President Tinubu approved the establishment of a Special Presidential Panel, led by Edun, to carry out an intensive review and audit of the existing financial frameworks and policy guidelines of the social investment programmes.
Speaking on Tuesday, Edun said the government had decided to restart the programme to provide succour to poor Nigerians.
The Minister noted that the beneficiaries of the N75,000 cash transfers scheme are 15 million households nationwide, adding that the Government has developed a system to ensure that payments go directly to beneficiaries through digital routes.
Noting that the government has recruited Mobile Network operators to fasten the roll-out of the scheme, the Minister said beneficiaries must have a National Identity Number (NIN), account number or mobile wallet to receive the cash transfer payments.
“As the Chairman of the Presidential Panel of Social Investment Programme, the all-important direct payment to the poor, which is the veritable tool and sharpest tool we can have for attacking increased living standards, that programme has been restarted. It involves 75 million Nigerians and 15 million households with the payment of N75,000 in the immediate term.
“To ensure public trust is there, we have a system that has been developed between the Ministers of Communications and Digital Economy, Health, and Youths with global best standard in providing direct payment.
“On the one hand, each person must have a National Identity Number. Secondly, the payment must be through digital routes, whether BVN, that is bank accounts or mobile wallets.
“Mobile Network operators have been recruited to ensure we have a faster rollout of the programme. That is one of the key ways initially that the poor and vulnerable will be helped,” he said.
