FG resumes N75,000 cash transfers to 75 million Nigerians

The Federal Government has restarted the provision of conditional direct N75,000 cash transfers to 75 million Nigerians to mitigate the impact of inflation, according to Finance Minister Wale Edun.

Edun made the announcement during a ministerial sectoral briefing in Abuja, marking the first year of President Bola Tinubu’s administration.

The beneficiaries of this social investment scheme include 15 million households nationwide. As chairman of the Presidential Panel of Social Investment Programs, Edun explained that the cash transfers aim to improve the living standards of Nigerians in the immediate term.

“The Government has developed a system to ensure that payments reach beneficiaries directly through digital routes,” Edun stated. He also noted that mobile network operators have been recruited to expedite the rollout of the scheme. Beneficiaries must have a National Identity Number, an account number, or mobile wallets to receive the payments.

“As Chairman of the Presidential Panel of Social Investment Programs, this direct payment to the poor is a vital tool for enhancing living standards,” Edun said. “The program, which involves 75 million Nigerians and 15 million households, provides N75,000 in the immediate term.”

Edun emphasized the government’s commitment to transparency and efficiency. “We have developed a system in collaboration with the Ministers of Communications and Digital Economy, Health, and Youths to ensure payments are made through digital routes, using either BVNs, bank accounts, or mobile wallets. Mobile network operators have been recruited to ensure a faster rollout of the program. This is one of the key ways we will initially help the poor and vulnerable.”

The resumption of this program follows the suspension of all National Social Investment Programme Agency (NSIPA) and Humanitarian Ministry programs by President Tinubu on January 12, due to alleged misappropriation. Additionally, on January 8, Tinubu suspended the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, over allegations of fund mismanagement under NSIPA.