 9th September, 2013 Home FG unveils N10bn cash transfer scheme in Ekiti September 9, 2013 by Friday Olokor, Abuja Leave a Comment The Federal Government has inaugurated its Conditional Cash Transfer scheme in Ekiti State under the Millennium Development Goals framework. Under the scheme, the government said it would empower over 56,000 indigent Nigerians from 24 states with about N10bn, and sustain 224, 000 children of school age. But the programme will be partly funded by state governments with N5bn, the Federal Government said. The Senior Special Assistant to the President on MDGs, Dr. Precious Gbeneol, said this in a statement obtained on Sunday in Abuja, during the inauguration of the CCT Scheme in Ado Ekiti, Ekiti State. The programme, planned to run in 12 months, will have funds disbursed to over 56,000 households in 600 communities in its first phase, the statement noted. It added that it was part of the countdown strategy of the MDGs office and a significant signpost for the determination of Nigeria to achieve the MDGs, desirable objectives. Gbeneol said, “The Federal Government through the MDGs Office has made available a total of N5bn with each of the 24 benefiting states receiving the sum of N187.5m, which is expected to be counterpart funded with equal amount (N5bn). In effect, a total of N375m will be committed to each state. The selected beneficiaries are given a monthly stipend of N5,000 every month for 12 months, which will be paid directly into the beneficiaries’ wallet through Ecobank, the project’s financial partner, while the bulk sum of N100,000 will be paid to each beneficiary at the end of the programme as an exit strategy.” The grant is tied to a prequalification condition, which stipulates that the beneficiaries must ensure that their children of school age remain in school, while the pregnant women among the
Posted on: Mon, 09 Sep 2013 17:29:06 +0000