News: Federal Government Begins Payment of N5,000 Monthly Stipend to Unemployed

Federal Government - As part of its determined efforts to touch the lives of Nigerians positively, the President Muhammadu Buhari-led administration has now 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), the presidency has divulged.

A statement by the senior special assistant media to the vice president, Laolu Akande, noted that under the CCT, one million Nigerians would receive N5,000 monthly payments as a form of social safety net for the poorest and most vulnerable as budgeted for in 2016.

He said in the first batch that commenced last week, nine states would be covered, and many of the beneficiaries had already reported receiving their first payments by Friday last week, December 30, 2016.

According to him, 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 social intervention programmes, adding that funds for the next set of five states to complete the first batch of nine states would follow soon.

He said: “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 & 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.”

He added that beneficiaries of the Conditional Cash Transfer would be mined from the Social Register, initially developed by 8 States through a direct engagement with the World Bank adding that those states are featured in the first batch, with the added inclusion of Borno States where a validated list of IDP'S was compiled in addition to the Social Register which is expected to go round the country.

He asserted that the CBT process has now been adopted for developing the Social Register in the other states around the country, for transparency, objectivity and credibility in the selection of the poorest and most vulnerable beneficiaries for the programme.

Source: Leadership