Home » FEDERAL GOVERNMENT: NIGERIAN YOUTH SET TO RECEIVE 20bn MONTHLY

FEDERAL GOVERNMENT: NIGERIAN YOUTH SET TO RECEIVE 20bn MONTHLY

by Ayogen
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Nigerian youth set to receive 20bn  monthly, as the Federal Government has approved the enrollment of additional one million beneficiaries of the N-Power programe.

Sadiya Farouq, The Minister of Humanitarian Affairs, Disaster Management and Social Development confirmed this on Sunday, 3rd April 2022.

“By June 2022 we would be paying two million people N5,000 basic cash transfer and an additional N5,000 on conditional cash transfers,
which is conditioned on good health-seeking/ behavior, school retention, and good water and hygiene conditions in their environment/homes,” Farouq stated.

She explained that the ministry designed and piloted a shock-responsive social register, called the Rapid Response Register to capture urban poor informal workers, who were daily wage earners, working across towns and cities, and impacted by the COVID-19 lockdown.

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The minister said, “To date, of this one million targeted by the federal government, we have been able to pay the sum of N5000 to 850,000 beneficiaries digitally through the Nigeria Inter-bank Settlement System, where each account is carefully validated by the system before payment.

“150,000 will be paid by the end of April 2022. Each of these beneficiaries is receiving six months of support in cash.”

Under the National Social Register, the ministry stated that 46 million persons in the 36 states and FCT, in 11 million households, had been registered as of 2022.
The minister stated that the N-Power volunteer scheme provided temporary job opportunities for 498,602 graduates under Batches A and B, while 450,000 graduates under Batch C Stream 1 were also engaged.
She added that 390,000 others were being onboarded for Batch C Stream 2, and that there was presidential approval to enroll additional one million beneficiaries
She further stated in the document that 174 of the 1,850 mobile agents trained, kitted, and registered with the Central Bank of Nigeria – Shared Agents Network Expansion Facility for agency banking achieved a transaction volume of over N657m between January 1 and March 25, 2022.
“The top 10 mobile money agents executed transactions totaling N300,095,545.06 and earned N1,852,499.00 between January and March 25, 2022,” Farouq said

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