FG to End Conditional Cash Transfer December, Millions Benefit

FG to End Conditional Cash Transfer December, Millions Benefit

  • The Nigerian government has announced it is ending the conditional cash transfer by December 2022
  • According to the government, the Scheme has benefitted about two million people across the 36 states of the country
  • The programme came to reduce poverty and improve human capital development in the country

The Nigerian government has said it is ending the conditional cash transfer to the vulnerable and less privileged in December.

One of the signature policies of the Buhari administration, the federal government, stated that since the Scheme launched in 2016, 2 million Nigerians have benefited.

Conditional cash transfer
President Muhammadu Buhari Credit: NurPhoto
Source: UGC

Beneficiaries from all states in Nigeria

The head of the National Cash Transfer Office (NCTO), Ibrahim Adam, stated this in an interview with the News Agency of Nigeria (NAN) at the Virtual International Financial Conference in Abuja on Thursday.

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Adam noted that the Scheme enrolled beneficiaries from rural areas across all the states of Nigeria and Abuja through community-based targeting.

According to reports, Adam added that the programme had reached about 609 local governments, about 6,272 wards and 48,789 communities and a total of 1.9 million beneficiaries in the national beneficiary register from inception to date.

He said the programme came to reduce poverty and enhance human capital development in Nigeria, noting that the poverty level in Nigeria stands at 60 per cent.

He stated that the federal government employed a tool in the cash transfer, an extension of stipends to beneficiaries.

Scheme meant to reduce poverty

To achieve that, Adam said the government later introduced a digital payment system, entailing the creation of bank accounts for beneficiaries to enhance transparency.

The Scheme has benefitted about two million people via their NUBAN accounts created by the banks for an easy link in the current international financial inclusion conference, Adam stated.

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FG brings the beneficiaries unto different groups where they do rotational savings and contributions, morphing into cooperative societies owned by them, empowering themselves in the process.

5 states lead as NBS reports that 133 million Nigerians are living in poverty

Legit.ng reported the National Bureau of Statistics has stated that about 133 million Nigerians are now poor.

The NBS, in its National Multidimensional Poverty Index report on Thursday, November 17, 2022, said that about 63 per cent of Nigerians were poor due to a lack of access to health, education, living standards, employment and security.

The Index offers different levels of poverty assessment, identifying deprivations across health, education, living standards, work and shocks.

Source: Legit.ng

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