The federal government has disbursed ₦330 billion in cash transfers to poor and vulnerable Nigerians through the National Social Safety-Net Coordinating Office (NASSCO).
This was disclosed on Wednesday by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a meeting of the Special Presidential Panel on the Social Investment Programme.
He stated that the monetary support is to help the vulnerable Nigerians cope with the rising price levels in the economy.
Naija News understands that the cash transfers are funded from the 800-million-dollar World Bank facility.
Edun added that beneficiaries are verified through their National Identity Numbers (NIN) and payments are made digitally via bank accounts or mobile wallets.
He assured that those yet to benefit from the disbursement would get theirs before the end of the year.
“We are pleased to report that the social protection programme put in place as a safety net to help people cope with the rising price level is now firmly back on track.
“About 19.7 million poor and vulnerable households, representing more than 70 million individuals, are captured in the National Social Register.
“The cash transfers, funded from the 800 million dollars World Bank facility, were disbursed to 15 million households.
“So far, 8.5 million households have received at least one tranche of N25,000, while some have received two or three payments.
“The remaining seven million households will be paid before the end of the year,” he said.
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