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National Cash Transfer Resumes: NSIPA releases over N24 billion to 991,261 beneficiaries

Katsina City News
27 Sep, 2024
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The National Cash Transfer Office under the National Social Investment Agency (NSIPA) has released the sum of N24, 781,525,000 for the payment of 991,261 household beneficiaries across the 36 States and the FCT Abuja.

This is part of the Renewed Hope Agenda of President Bola Ahmed Tinubu to alleviate poverty and improve the livelihood of poor and vulnerable Nigerians.

A statement signed and issued by the National Coordinator and Chief Executive Officer of National Social Investment Programme Agency, N-SIPA,

Assoc. Prof. Badamasi Lawal dated September 26, 2924 said the National Cash Transfer Office has released the sum of N24, 781,525,000 for the payment of 991,261 household across the 36 States and the FCT Abuja.

Recall that NSIPA's activities were suspended late last year due to some fraud allegations against some top management staff of the Ministry of Humanitarian Affairs that lead to the sack of the minister and heads of some departments

The statement further said in August 2024, a total number of 153,038 household beneficiaries received the sum of N3, 825,950,000, while the sum of N20, 955,575,000 was paid to 838,223 household across the 36 States and the FCT in September.

Each of the beneficiaries received N25,000 through their Financial Service Providers (FSP).

Prof Badamasi Lawal added that the President Bola Tinubu's Renewed Hope Conditional Cash Transfer (RH-CCT) is aimed to cushion the economic shocks of the beneficiaries who are mostly the poor and vulnerable Nigerian households.

The economic benefits of the project include but not limited to immediate poverty reduction but improve household finances and savings ability of the beneficiaries. The health benefits provide opportunities for the beneficiaries to improve their health and nutritional needs. The emotional and social benefits include livelihood, interpersonal relationship and family happiness.