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Federal Govt Restarts N75,000 Cash Payment To Citizens

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Federal Govt Restarts N75,000 Cash Payment To Citizens

Wale Edun, Minister of Finance, has announced that the Federal government has resumed the disbursement of conditional direct N75,000 cash transfers to 75 million Nigerians to combat the impact of inflation.

Edun announced on Tuesday, May 28, during a ministerial sectoral briefing in Abuja to commemorate the first year of President Bola Tinubu’s government.

He stated that the social investment initiative benefits 15 million households nationwide.

Edun, head of the Presidential Panel of Social Investment initiative, indicated that the cash transfer will enhance Nigerians’ living conditions in the short term.

He claims that the government has created a system to guarantee that beneficiaries receive payments via digital channels.

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Edun declared that in order to expedite the implementation of the programme, the government has enlisted mobile network carriers.

According to him, in order to receive the cash transfer payments, beneficiaries must have a mobile wallet, account number, or National Identity Number.

He said: “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.

“It involves 75 million Nigerians and 15 households with the payment of N75,000 in the immediate term.

“To ensure public trust is there we have a system that has developed between the Ministers of Communications and Digital Economy, Health, and Youths with a global best standard in providing direct payment.

“On the one hand, each person must have a National Identity Number, secondly, the payment must be through digital routes. Whether BVN, that is bank account Accounts or mobile wallets.

“Mobile Network operators have been recruited to ensure we have a faster rollout of the program. That is one of the key ways initially that the poor and vulnerable will be helped.”

Recall that on January 8, Tinubu suspended Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, due to suspected abuse of NSIPA money.

In addition, Tinubu stopped all of the Humanitarian Ministry’s and the National Social Investment Programme Agency’s programmes on January 12 due to suspected misappropriation.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli

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