Minister of Finance, Wale Edun has said the federal government has restarted the provision of conditional direct N75,000 cash transfers to 75 million Nigerians to tackle the impact of inflation.
Edun disclosed this on Tuesday at a ministerial sectoral briefing to mark the first year in office of the President Bola Tinubu administration in Abuja.
He noted that the beneficiaries of the social investment scheme are 15 million households nationwide.
Edun who is the chairman of the Presidential Panel of Social Investment programme explained that the cash transfer will improve the living standard of Nigerians in the immediate term.
According to him, the Government has developed a system to ensure that payments get directly to beneficiaries through digital routes.
Edun announced that the government has recruited Mobile Network operators to fasten the roll-out of the scheme.
He stated beneficiaries must have a National Identity Number, account number or mobile wallets to receive the cash transfer 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.”
On January 12, Tinubu suspended all the programs administered by the National Social Investment Programme Agency and Humanitarian Ministry over alleged misappropriation.
Recall that Tinubu suspended the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu on January 8 over alleged funds’ mismanagement under NSIPA.
Credit: dailypost.ng
