Cash transfer: FG releases conditions, eligibility for beneficiaries

The federal government has confirmed that it would resume its conditional cash transfer programme for NigeriansConfirming this development, the Minister of Finance, Wale Edun, stated that 12 million Nigerians have been added as beneficiariesIn an interview on Channels TV, Wale Edun rolled out the conditions and criteria to qualify a beneficiary for the fundsLegit.ng journalist Segun Adeyemi has over 9 years of experience covering political events, civil societies, courts, and metro

FCT, Abuja – The Nigerian government has outlined the cash transfer initiative requirements to aid 15 million households grappling with escalating economic difficulties.

President Bola Tinubu has acknowledged the widespread concerns among Nigerians about soaring food prices and has affirmed intentions to resume cash transfers to the nation’s neediest and most vulnerable families.

The federal government has announced the relaunch of conditional cash transfers. Photo Credit: Wale Edun
Source: UGCBefore suspending the social investment programme a few months ago, at least three million Nigerians had benefited from the initiative.

FG approves 12 million additional beneficiariesAs reported by BBC Pidgin, the federal government upscaled the number of beneficiaries to 15 million due to the rising cost of living and economic hardship.

Meanwhile, the Minister of Finance, Wale Edun, in a recent interview on Channels TV, said the requirement for accessing the money as a beneficiary is if the individual possesses a National Identity Number (NIN), Biometric Verification Number (BVN) plus access to a mobile phone.

The minister said this is to ensure that the funds get to the right people to avoid discrepancies in the distribution process.

In his recent trip to Akwa Ibom, the minister reiterated the same.

As quoted by Channels TV, he said:

“The presidential panel on the social investment programmes have prepared to go to Mr. President with an internal recommendation to restart the direct payments to the poorest and the most vulnerable. Everything is being done to ease the pain.“We know that there’s been about three million beneficiaries now, but given the way the rates have gone, there are probably another 12 million people, households that can benefit from that payment.”Tinubu moves to pay unemployed youths monthly stipend President Bola Tinubu’s recent plan for Nigerian youths will gladden the hearts of many amid the high cost of living.

As economic hardship bites harder, Tinubu has approved a social unemployment programme to support the country’s unemployed youths financially.

The federal government disclosed this through the finance minister and coordinating minister of the economy, Wale Edun.

Source: Legit.ng