Federal Government of Nigeria Kick Start ₦75,000 Conditional Cash Transfer To Vulnerable Households

The Federal Government, on Tuesday, said it has resumed its social intervention scheme of conditional cash transfer of ₦75,000 cash transfers to 15,000,000 households nationwide to combat the impact of inflation.

Minister of Finance, Wale Edun, revealed this on Tuesday, at a ministerial sectoral briefing to mark the first year in office of the President Bola Ahmed Tinubu's administration in Abuja.

President Bola Ahmed Tinubu had in November 2023, launched the conditional cash transfer programme targeted at 15,000,000 households across the federation to receive ₦75,000 within three months.

However, President Bola Ahmed Tinubu on January 12, suspended all social programmes administered by the National Social Investment Programme Agency (NSIPA) including Npower for six weeks, as part of a probe of alleged misappropriation of public funds in the management of the National Social Investment Programme Agency (NSIPA) and the National Social Investment Programmes. This was followed by the suspension of Betta Edu as the Minister of Humanitarian Affairs and Poverty Alleviation on January 8.

The National Social Investment Programmes includes Npower, the conditional cash transfer scheme, the government enterprise and empowerment programme, and the national home-grown school feeding program.

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To reactivate the conditional cash transfer program, President Bola Ahmed Tinubu approved the establishment of a Special Presidential Panel, led by Wale Edun the Minister of Finance, to carry out an thorough review and audit of the existing financial frameworks and policy guidelines of the national social investment programmes.

Speaking on Tuesday, Wale Edun said the government had decided to restart the conditional cash transfer programme to provide succour to poor Nigerians.

The Minister for finance Wale Edun, stated that the beneficiaries of the ₦75,000 conditional cash transfers scheme are 15,000,000 households across the federation, adding that the Federal Government has developed a system to ensure that payments go directly to beneficiaries of the Conditional Cash Transfer (CCT) through digital routes.

Noting that the federal government has employed Mobile Network operators to fasten the roll-out of the Conditional Cash Transfer (CCT) scheme, the Minister Wale Edun, said beneficiaries of the Conditional Cash Transfer (CCT) must have a National Identity Number (NIN), account number or mobile wallet to receive the conditional 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 75,000,000 Nigerians and 15,000,000 households with the payment of ₦75,000 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,” Wale Edun said.

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