How FG Will Distribute Cash Transfer to Poor and Vulnerable Households – Coordinator » Voice of Nigeria

Nigeria has a new plan.

They want to give money to families who have very little money.

Halima Shehu, the leader of NSIPA, talks about this plan.

Different Ways to Give Money

Mrs. Shehu elaborates on various financial assistance methods for those in need. The most prominent method she mentions is the “Conditional Cash Transfer” (CCT). Under this system, the government identifies individuals facing financial hardships and provides them with a monetary aid of ₦5,000

For individuals with aspirations to establish their own small-scale enterprise, an opportunity to secure a financial incentive of ₦150,000 is available. This initiative mandates participants to first undertake a comprehensive training program. Upon successful completion, they can access the funds to facilitate the inception of their venture.

Talking in the Senate

In a recent session at the Nigerian Senate—a prominent decision-making body—Mrs. Shehu provided insights into their poverty alleviation strategies. She highlighted an immediate relief of ₦5,000 for the economically disadvantaged.

Furthermore, she emphasized an advanced scheme, wherein individuals, upon proving their dedication and acquiring necessary skills, are eligible for a considerable grant of ₦150,000. This sum is earmarked for business ventures and must be deployed within a span of three years.

Money from the World Bank

The Nigerian government, in its proactive approach to counteract the negative effects of the petroleum subsidy withdrawal, has secured a considerable loan of $800 million from the esteemed World Bank.

With a vision of providing consistent relief, President Bola Tinubu is keen on continuing the commendable cash transfer program, a legacy that had its origins during the tenure of Muhammadu Buhari.

Helping 12 Million Families

In light of recent economic challenges, the incumbent government has proposed a welfare initiative. They are committed to providing a monthly stipend of ₦8,000 to an estimated 12 million families that fall within the impoverished and low-income categories.

This benevolent gesture will span six months, and to guarantee transparency, biometric techniques will be implemented for precise distribution.

How People Get the Money

In a recent update, Mrs. Shehu elaborated on the funding process. The entirety of the money will be disbursed from the Central Bank of Nigeria. Instead of passing through various channels, this amount will be directly credited to the bank accounts of the identified recipients. Ensuring the utmost transparency, no governmental intermediaries will handle these funds. Additionally, organizations like the World Bank will rigorously oversee the proceedings, certifying that all actions are just and transparent.

She precisely explained, “Our involvement with the funds is non-interferential. It commences at the Central Bank, is then channeled through a specific payment service provider, and subsequently reaches its predetermined recipients. While technology plays a significant role in this mechanism, we’ve ensured human oversight at pivotal stages to ascertain the veracity of the entire process.”

Other Help Programs

In her discourse, Mrs. Shehu highlighted various initiatives. Firstly, the N-Power program, dedicated to equipping young individuals with skills for two years to assist them in job placements. Secondly, an entrepreneurial scheme provides small businesses with financial boosts ranging from ₦50,000 to ₦300,000. Lastly, an initiative focuses on ensuring public school children receive meals.

The governmental body of Nigeria is ardently embarking on several initiatives aimed at alleviating hardships for its residents. Their focal point is to judiciously distribute financial aid, emphasizing that it reaches those in dire straits.

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