The FG Cash Transfer Program has expanded its reach, now including an additional group of beneficiaries. These individuals will also receive N25,000, offering them financial relief and support. This inclusion reflects the government’s commitment to broadening social welfare initiatives
In a strategic move to cushion the effects of the recent fuel subsidy removal on Nigerians and provide financial relief, the federal government is extending the N25,000 conditional cash transfer program to include pensioners under the Defined Benefit Scheme (DBS).
The Corporate Communications unit of the Pension Transitional Administration Directorate (PTAD) officially announced this decision. It was reached following a meeting held in October 2023, attended by representatives from PTAD, the Nigeria Union of Pensioners (NUP), pension union executives, and PTAD’s pension department officers.
In an official statement, PTAD and NUP, in collaboration with stakeholders such as the Nigeria Pension Commission (PenCom), Pension Union Executives, and Pension desk officers of the parastatals pension department, provided clarification.
They affirmed that pensioners enrolled in the Defined Benefit Scheme (DBS) are among the designated priority beneficiaries of the recently sanctioned N25,000 Conditional Cash Transfer (CCT). This declaration was made during a scheduled interactive session held on Wednesday, October 18, 2023
The statement also includes confirmation from Mr. Sulayman, Director of the Civil Service Pension Department (CSPD). He substantiated that PTAD, in collaboration with the Nigeria Union of Pensioners (NUP), has effectively compiled and verified the information of all DBS pensioners. This data has been duly submitted to the Ministry of Humanitarian Affairs and Poverty Alleviation.
He proceeded to provide further clarification. PTAD, in collaboration with the Nigeria Union of Pensioners (NUP), took diligent measures to promptly transmit the verified data of all DBS pensioners on the payroll. This essential data transfer was facilitated through the Nigeria Union of Pensioners (NUP) to reach the Ministry of Humanitarian Affairs and Poverty Alleviation.
it was duly outlined that the Ministry of Humanitarian Affairs will assume the role of managing the disbursement of funds to the pensioners.
What is the Conditional Cash Transfer (CCT) program?
The Conditional Cash Transfer (CCT) program operates as a social safety net initiative, offering cash transfers to impoverished and vulnerable households. These transfers are contingent upon complying with specific criteria, such as enrolling their children in school and attending regular health check-ups.
The program was first introduced in Nigeria in 2003, and it has since been expanded to reach millions of households across the country.
Why are pensioners being included in the CCT program?
he federal government, in its dedicated efforts to mitigate the adverse effects of the recent fuel subsidy removal on Nigerians, has made the important decision to include pensioners in the CCT program.
The removal of the fuel subsidy has indeed resulted in a surge in petrol prices, creating financial challenges for numerous households, including pensioners.
The CCT program is poised to offer valuable assistance to pensioners in meeting their fundamental needs and addressing the escalating cost of living.
How will pensioners get the N25,000 cash transfer?
The Ministry of Humanitarian Affairs may transfer the funds directly to their bank accounts. For details, pensioners should contact their administrators or the Ministry.
the decision to include pensioners in the CCT program is indeed a positive step forward. It signifies the recognition that pensioners constitute a vulnerable demographic likely to be disproportionately affected by the removal of the fuel subsidy.
The N25,000 cash transfer is poised to assist pensioners in fulfilling their fundamental needs and navigating the challenges posed by the increasing cost of living. Moving forward, there is hope that the federal government will continue to extend its support to pensioners and other vulnerable groups in the aftermath of the fuel subsidy removal.