The Federal government has commenced payment of the N5,000 monthly stipend to the poorest and the most vulnerable in the country through the Conditional Cash Transfer (CCT) scheme of its Social Investment Programme (SIP).
This was contained in a statement released on Monday by Vice-President Yemi Osinbajo’s media aide, Mr Laolu Akande. According to him, under the scheme, one million Nigerians would receive N5,000 monthly payments as a form of social safety net for the poorest and most vulnerable as provided in the 2016 budget.
He said in the first batch that commenced last week, nine states were covered, and that beneficiaries had already confirmed that they had received their first payments last Friday.
“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.
“Funds for another set of five states to complete the first batch of nine states would follow soon,” Akande stated.
Akande said that though the sequence for the payment of the monthly stipend would be operationally managed by NIBSS, beneficiaries in Borno, Kwara and Bauchi States had started receiving the money.
He gave the names of other states in the first batch to benefit from the CCT payments as Cross River, Niger, Kogi, Oyo, Ogun and Ekiti States.
Mr. Akande added that the nine pilot states were chosen because they had 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.
He, however, said other states had started developing their social registers and would be included in subsequent phases of the scheme.
According to him, beneficiaries of the CCT scheme would be mined from the social register initially developed by the eight states through direct engagement with the World Bank.