BREAKING NEWS : TINUBU LAUNCHES CONDITIONAL CASH TRANSFER FOR 15 MILLION HOUSEHOLDS IN NIGERIA.

The Conditional Cash Transfer Program for 15 million households was introduced by President Bola Tinubu on Tuesday.

At an occasion held at the Press Gallery of the State House in Abuja, the President launched the program in person as represented by the Secretary to the Government of the Federation, George Akume.

Remember how the President introduced the cash transfer program, which he said would target vulnerable persons, in his first Independence Day broadcast to Nigerians on October 1, 2023?

The Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu, the Minister of Finance, Wale Edun, the Country Director for the World Bank, Shubham Chaudhuri, and the UN Resident and Humanitarian Coordinator for Nigeria, Matthias Schmale, are among the dignitaries present at the occasion.

The humanitarian affairs minister said that the 15 million homes at the event, which fell on World Poverty Eradication Day, represented 62 million Nigerians.

She stated that a three-month transfer of N25,000, or N75,000 for each beneficiary, would be made to the recipients on a monthly basis.

The minister also announced the impending launch of another program with the working title “Iya Loja Funds,” which would give petty traders unsecured loans of N50,000.

She added that farmers would receive incentives to increase their farm output at the start of the upcoming farming season.

The World Bank Country Director spoke as well and vowed support for the program on behalf of his organization.

The finance minister also announced the implementation of a biometric auditing system to guarantee effectiveness and accountability in the distribution of monies to beneficiaries.