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Tuesday, January 3, 2017

FEDERAL GOVERNMENT BEGINS PAYMENT OF N5,000 MONTHLY STIPENDS

President Muhammadu Buhari has started the payment of N5,000 monthly stipends to the poorest and the most vulnerable in the country through the Conditional Cash Transfer (CCT) of its Social Investment Programmes, SIP.


According to a statement by Laolu Akande, Senior Special Assistant on Media and Publicity in the Office of the Vice President, in the first batch that commenced last week, nine states would be covered, and many of the beneficiaries have already reported receiving their first payments by Friday last week, December 30, 2016.

“Funds for the commencement of the payments in four states were released last week to the Nigeria Inter-Bank Settlement System (NIBSS) – the platform that hosts and validates payments for all government’s social intervention programmes. Funds for another set of five states to complete the first batch of nine states would follow soon,” the statement read.

“Though the sequence for the payment of the money would be operationally managed by NIBSS, beneficiaries in Borno, Kwara and Bauchi States have started receiving the money. The other states in the first batch to commence the CCT payments are Cross Rivers, Niger, Kogi, Oyo, Ogun and Ekiti States.

“The nine pilot states were chosen because they have an existing Social Register that successfully identified the most vulnerable and poorest Nigerians through a tried and tested community based targeting (CBT) method working with the World Bank.

“However other states have already begun developing their Social Registers and would be included in subsequent phases of the CCT implementation."

It will be recalled that President Buhari , during his election campaign had promised that, under the CCT, one million Nigerians would receive N5000 monthly payments as a form of social safety net for the poorest and most vulnerable and this was budgeted for in the 2016 Budget.

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