Current Nigerian President Muhammadu Buhari has revealed that 1.6million households will be receiving N5000 from his government monthly.
Buhari has announced that 8 million households are currently benefitting from the Conditional Cash Transfer Program (CCT). He also said 1.6 million households are currently benefiting from a “bi-monthly stipend of N10,000″ from his government. The CCT was established to benefit the poor and less privileged with a stipend of N5000 monthly.
According to the office of the Vice-President, N5000 is paid monthly to the most vulnerable households in the country. Buhari said this at the opening ceremony of the 14th annual banking and finance conference of the Chartered Institute of Bankers of Nigeria (CIBN).
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8 million households are currently benefitting from the CCT program, which pays a monthly stipend of N10,000. 7 million poor households are identified and explore by bankers to play the role of improving livelihood.
Just recently, Buhari also instructed the FG to give 1.6 million households N10,000 every two months. The President said the National Social Register of poor and vulnerable Nigerians had 32.6 million people from seven million poor and vulnerable households identified, imploring bankers to play a stronger role in improving livelihoods.
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