FG Restarts Cash Transfer Program to Tackle Inflation

The federal government has reinstated a conditional cash transfer program, providing N75,000 to 75 million Nigerians to mitigate the effects of inflation.

Minister of Finance, Wale Edun announced on Tuesday during a ministerial sectoral briefing in Abuja, marking the first year of the President Bola Tinubu administration.

Edun, also the chairman of the Presidential Panel of Social Investment program, explained that the initiative aims to improve the living standards of Nigerians in the short term.

The program will benefit 15 million households nationwide, with payments made directly to beneficiaries through digital channels.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

READ ALSO: FG Accredits Top Institutions for Free Degree Programs

To ensure transparency and public trust, the government has established a system in collaboration with the Ministers of Communications and Digital Economy, Health, and Youths, adhering to global best standards.

Beneficiaries must have a National Identity Number, account number, or mobile wallets to receive the cash transfer payments.

Mobile Network operators have been recruited to expedite the rollout of the program, which is part of the government’s efforts to support the poor and vulnerable.

The move comes after the suspension of previous social investment programs due to alleged misappropriation and mismanagement.