Beneficiaries must have a National Identity Number, account number, or mobile wallet to receive the payments.
By Karo Oghenetega
Minister of Finance Wale Edun announced that the federal government has resumed conditional direct cash transfers of N75,000 to 75 million Nigerians to combat inflation. Speaking on Tuesday at a ministerial sectoral briefing in Abuja, marking President Bola Tinubu’s first year in office, Edun explained that the social investment scheme targets 15 million households nationwide.
As chairman of the Presidential Panel of Social Investment Program, Edun emphasised that the cash transfers aim to improve Nigerians’ living standards in the short term. He added that the government has established a system to ensure direct digital payments to beneficiaries and has enlisted Mobile Network Operators to expedite the scheme’s rollout. Beneficiaries must have a National Identity Number, account number, or mobile wallet to receive the 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 programmes managed by the National Social Investment Programme Agency and the Humanitarian Ministry due to alleged misappropriation.
Earlier, on January 8, Tinubu had suspended the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, over allegations of funds mismanagement under NSIPA.
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