Minister of Finance, Wale Edun has said the federal government has restarted the provision of conditional direct N75,000 cash transfers to 75 million Nigerians to tackle the impact of inflation.
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.
He noted that the beneficiaries of the social investment
scheme are 15 million households nationwide.
Edun who is the chairman of the Presidential Panel of Social
Investment programme explained that the cash transfer will improve the living
standard of Nigerians in the immediate term.
According to him, the Government has developed a system to
ensure that payments get directly to beneficiaries through digital routes.
Edun announced that the government has recruited Mobile
Network operators to fasten the roll-out of the scheme.
He stated beneficiaries must have a National Identity
Number, account number or mobile wallets to receive the cash transfer payments.
“As the Chairman of the Presidential Panel of Social
Investment program, 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 program has been restarted.
“It involves 75 million Nigerians and 15 households with the
payment of N75,000 in the immediate term.
“To ensure public trust is there we have a system that has
developed between the Ministers of Communications and Digital Economy, Health,
and Youths with a 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 account Accounts or mobile wallets.
“Mobile Network operators have been recruited to ensure we
have a faster rollout of the program. That is one of the key ways initially
that the poor and vulnerable will be helped”, he said.
On January 12, Tinubu suspended all the programs
administered by the National Social Investment Programme Agency and
Humanitarian Ministry over alleged misappropriation.
Recall that Tinubu suspended the Minister of Humanitarian
Affairs and Poverty Alleviation, Betta Edu on January 8 over alleged funds’
mismanagement under NSIPA.
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