President Muhammadu Buhari has announced that 8 million individuals are currently benefiting under the conditional cash transfer programme (CCT).
In addition, the president also said 1.6 million households are currently receiving a “bi-monthly stipend of N10,000″ from his government. The CCT programmer was established to benefit poor and vulnerable Nigerians with a monthly stipend of N5,000.
According to the office of the Vice-President, N5000 is paid monthly to the most vulnerable households in the country. Buhari said this at the opening ceremony of the 14th annual banking and finance conference of Chartered Institute of Bankers of Nigeria (CIBN), on Tuesday.
Speaking virtually, Buhari said the national social register had 32.6 million persons from 7 million poor and vulnerable households identified and therefore implored bankers to play a role in improving livelihoods. “From this number, 1.6 million poor and vulnerable households, comprising more than 8 million individuals, are currently benefiting from the Conditional Cash Transfer program, which pays a bi-monthly stipend of N10,000 per household,’’ he said.
