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World Bank Begins $800m Cash Transfer To Nigerians

Ololade Omosan-Agie

The World Bank is about to begin an $800m Conditional Cash Transfer programme in Nigeria.

Nigeria Governors’ Forum revealed the development in a communique after the 36th teleconference meeting.

According to the communique, the World Bank Country Director, Shubham Chaudhuri announced the development to the governor on behalf of the institution.

At the official exchange rate, the amount translates to N329.53bn.

It said, “Forum members also listened to the World Bank Country Director, Shubham Chaudhuri, on the rollout of a World Bank financed $800m facility designed to fund a large-scale Conditional Cash Transfer programme across the country.

“The forum thereafter resolved that each state governor will establish and chair a steering committee to oversee the Conditional Cash Transfer initiative to ensure that the programme aligns with the vision of the state government.”

Nigeria’s Conditional Cash Transfer Programme is administered by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The communique said, “On the National Social Register and the Rapid Response Register as critical tools for rolling out cash transfer programmes, members received a presentation from the National Coordinator of the National Social Safety Nets Coordinating Office, Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Mr. Iorwa Apera.”

The Humanitarian Affairs Ministry had said that under the Federal Government CCT programme, N58bn was disbursed in two months alone.

The Ministry also revealed that 1.9 million poor and vulnerable households have been captured in the CCT register.

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