Federal Government’s Enhanced Cash Transfer Programme to Combat Fraud and Support Vulnerable Groups.
In a bid to address fraud and ensure effective support for vulnerable communities, the Federal Government has overhauled its cash transfer programme, introducing immediate direct payments. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, shared this development during an interview on channels television.
The revamped initiative aligns with the President’s pledge to assist those most in need amidst escalating food costs. The plan involves providing direct transfers of N75,000 to 15 million households over three months, amounting to N25,000 monthly per household, benefiting approximately 75 million individuals.
To enhance accountability and reach the intended recipients, the programme now includes stringent verification measures such as National Identification Number (NIN), Bank Verification Number (BVN), or access to mobile money accounts.
This overhaul comes in the wake of suspensions and investigations prompted by alleged misappropriations within the programme. Betta Edu, the former Minister of Humanitarian Affairs, was suspended over the mismanagement of N585 million allocated for palliative distribution. Additionally, Edu’s predecessor, Sadiya Umar-Farouq, faces scrutiny by the EFCC for alleged money laundering amounting to N37.1 billion during her tenure.
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Furthermore, the government underscores its commitment to ensuring affordable food access for the populace. The Finance Minister revealed plans to supply an additional 60,000 metric tons of grains to food and feed mills, supplementing the existing 42,000 metric tons released from strategic reserves.
In addition to the revamped direct payment system, the government intends to disburse a N50 billion non-refundable grant to support artisans, traders, and nano businesses across all 774 local government areas. This initiative aims to provide digital verification, mirroring the direct payment process, and is set to benefit at least 1000 individuals per local government.
The government emphasizes that these interventions are vital in empowering citizens during times of economic strain, ensuring the most vulnerable are supported amidst rising living costs. The commitment remains steadfast to sustain these measures until stability is achieved in food production and prices, thereby bolstering the purchasing power of marginalized groups.
