How FG will Disburse Cash Transfer to 15million Households – Coordinator

How Nigerian Government Will Distribute Conditional Cash Transfer to Poor and Vulnerable Households – Coordinator

In Nigeria, there is a plan to disburse cash transfer to poor and low-income families to help them. Halima Shehu, who is the boss of the National Social Investment Programmes Agency (NSIPA), tells us about this plan.

Different Types of Cash Transfers

1. Regular Money:

• People in this group get ₦5,000.
• This is to help them with their daily needs.

Mrs. Shehu talks about different ways to give money to people who need it. The first way is called “Conditional Cash Transfer” (CCT). People in this category will get ₦5,000 each from the government. This is to help them when they are struggling with money.

2. Money for Business:

• People get ₦150,000.
• First, they must learn a skill or trade.
• Then, they use the money to start a small business.

The other way is for people who want to start a small business. These people will get ₦150,000 each. But, they need to learn some skills first. After they finish their training, they can use this money to start their business.

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What Mrs. Shehu Said in the Senate

Mrs. Shehu talked about disburse cash transfer in the Senate. The Senate is a group of important people who make decisions in Nigeria. They asked her questions, and she answered them.

She said, “We give ₦5,000 to all poor and vulnerable people. But, for the second way, they need to do something. They need to show they can take care of their own lives. After they learn skills, we give them ₦150,000. They have three years to use this money to build their business. We want to help them get out of poverty.”

Why is this Happening?

The government has obtained an $800 million loan from the World Bank, with the primary objective of assisting Nigerians who have been adversely affected by the removal of the petroleum subsidy. President Bola Tinubu is firmly committed to the continued implementation of the cash transfer program that was originally initiated under the leadership of Muhammadu Buhari.

In a groundbreaking move, the new government is set to disburse ₦8,000 to an impressive 12 million poor and low-income families over a span of six months. This financial lifeline is strategically designed to provide essential relief during challenging times. Importantly, the implementation of biometric verification will ensure precise targeting, reaching those in genuine need.

How the Money Will Be Given

Mrs. Shehu has reassured that the entire funding will be sourced from the Central Bank of Nigeria and channeled directly into the bank accounts of eligible recipients. Government officials will have no involvement in handling these funds, and comprehensive oversight from entities such as the World Bank will guarantee equitable distribution.

She explained, “We don’t touch the money ourselves. It starts from the Central Bank, goes through a payment service provider, and then to the people. Even when we use technology, there will be people checking to make sure everything is right. This is how we make sure the cash transfer is honest.”

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N-Power and Other Programs

Mrs. Shehu also talked about other programs. N-Power helps young people for two years. They get training and support to find jobs. Another program helps small business owners with ₦50,000 to ₦300,000. And there’s a program to feed school children in public schools.

So, the government in Nigeria is working to help people in different ways. They want to make sure that the money goes to those who need it the most.