The Federal Government, under the leadership of President Bola Ahmed Tinubu, has expanded the National Cash Transfer Programme to reach 15 million vulnerable citizens across the country. As part of the initiative, each beneficiary will receive ₦25,000, disbursed in three tranches over the course of the year.
In Oyo State alone, more than 150,000 households have benefited in the past six months. Payments are made directly into bank accounts linked to the beneficiaries’ National Identification Numbers (NIN) and Bank Verification Numbers (BVN) to ensure transparency and accountability.
To fast-track the process, the government has established an inter-agency task force comprising the National Identity Management Commission (NIMC), the National Social Safety-Nets Coordinating Office (NASSCO), the National Cash Transfer Office (NCTO), the Central Bank of Nigeria (CBN), and the Nigeria Inter-Bank Settlement System (NIBSS). The task force is charged with resolving operational bottlenecks and ensuring timely delivery of funds to households in need.
This expansion is part of the administration’s broader poverty alleviation strategy aimed at providing direct financial relief to the most vulnerable Nigerians and promoting financial inclusion nationwide.
