President Muhammadu Buhari has disclosed that 8 million individuals are currently benefiting under the conditional cash transfer programme (CCT), Oyogist.com reports.
The president also stated that 1.6 million households are currently receiving a “bi-monthly stipend of N10,000″ from his government.
Conditional cash transfer programmes (CCT) give money to poor people in return for fulfilling specific behavioural conditions.The CCT programme was established to benefit poor and vulnerable Nigerians with a monthly stipend of N5,000.
Buhari stated 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 stated that 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.