Controversy as Wale Edun's Panel Seeks to Move FG's Social Investment Programmes to Finance Ministry

Controversy as Wale Edun's Panel Seeks to Move FG's Social Investment Programmes to Finance Ministry

  • Presidential Panel on Social Investment Programmes has recommended the removal of investment schemes from the Ministry of Humanitarian Affairs
  • The move follows the alleged corruption trailing the ministry and the suspended Minister, Betta Edu
  • The EFCC is currently investigating Edu for requesting a transfer of N585 million into a private account

Legit.ng's Pascal Oparada has reported Tech, Energy, Stocks, Investment and the Economy for over a decade.

Presidential Panel on Social Investment Programmes has recommended removing intervention programmes from the supervision of the Humanitarian Affairs Ministry.

Reports say the panel led by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the recommendation to President Bola Tinubu.

Social investment programmes may move
President Bola Tinubu instituted the panel led by Wale Edun, which seeks to move NSIP Credit: State House
Source: Twitter

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FG's social intervention programmes

The social investment and intervention schemes are currently under the control of the Ministry of Humanitarian Affairs and Poverty Alleviation. They are implemented by the National Social Investment Programme Agency (NSIPA) by law.

The social investment programmes include:

  • The N-Power Scheme
  • Conditional Cash Transfer Scheme
  • Government Enterprise and Empowerment Programme, and
  • Home Grown School Feeding Programme.

Tinubu suspends social investment schemes

All the schemes were halted by Tinubu when the minister of Humanitarian Affairs, Betta Edu, was suspended.

Edu is currently being investigated by the Economic and Financial Crimes Commission (EFCC).

Edun ran into trouble after a memo surfaced in which she asked the accountant General of the federation, Oluwatoyin Madein, to transfer about N858 million to a private account.

The move by Edu led to the discovery of other documents where she allegedly made controversial approvals, including approving airfares to Kogi, a state without an airport.

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Tinubu also directed that the Wale Edun-led panel should conduct a comprehensive diagnosis of the financial architecture and framework of the social investment scheme to reform them.

According to TheCable, the panel recommended that the schemes be restarted to ease the pains of low-income people but that a new board under Edun's leadership oversee the social intervention schemes.

FG announces plans to share N25,000 cash to Nigerians

Legit.ng reported that Wale Edun, the Coordinating Minister of the Economy and Minister of Finance has revealed that the Nigerian government will empower 15 million households with N25,000 per month.

This is part of the government's efforts to lessen the economic hardship experienced by Nigerians.

Edun stated in an interview on Channels Television that it is part of government efforts to lessen the economic hardship experienced by Nigerians.

Source: Legit.ng

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