Updates on Cash Transfer December 2023 - Naija Stick

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Updates on Cash Transfer December 2023

Dec 18, 2023

Updates on Cash Transfer December 2023

Dive into the World Bank’s recent findings, President Tinubu’s new strategies, and the economic hurdles Nigerians are currently facing. Get insights on how the Federal Government is tackling poverty and economic instability with this vital initiative. Stay tuned for more updates and in-depth analysis.

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In a significant policy update, the Government has decided that individuals must possess both a National Identification Number (NIN) and a Bank Verification Number (BVN) to qualify for cash transfers. It’s crucial to stay informed about this recent development

Changes to the List

The government wants to help many people with money. But they have to make sure the right people get help. So they are updating their list of people who will get money.

New Additions: People who are retired and those who were in the army before will now get money.

Removals: Some people have more money now and don’t need help. They will be taken off the list. Also, if someone has passed away, they will be removed. If you don’t have NIN or BVN, you won’t get money.

How Will the Payment Work?

Olanrewaju clarified the timeline for the cash transfer scheme.

People won’t get money through other companies. It has been confirmed that payments will be directly disbursed to beneficiaries by the Central Bank of Nigeria, eliminating the need for consultants. The first big payment will commence next week, serving five million households.

Why is the Government Doing This?

The government has a big plan. They want to help people who don’t have a lot of money. This will make their life better and also help the country’s economy. The president has given N25,000 to 15 million families for three months. This is to help them because fuel is now more expensive.

What People Say

The Special Adviser on Media, Rasheed Olanrewaju, said they have changed the list. Now, more people who need help are on it.

Jamaldeen Kabir, from the National Social Investment Programme Agency, agreed. He said that they want to make sure they help the right people.

When Will People Get Money?

Some people have already got messages saying they will get money. Most people will start getting money next week. By the end of this month, 5 million families will get help.

Making Sure Everything is Right

The government wants to make sure there are no mistakes. They are checking the list very carefully. They want to know if people are still poor or if they have more money now. They are also removing names of people who have passed away.