FG establishes inter-agency job pressure to fast-track money transfers to fifteen million weak households 

The Federal Authorities on Wednesday established an inter-agency job pressure to fast-track and deal with challenges delaying President Bola Ahmed Tinubu’s authorised conditional money transfers to fifteen million weak households in Nigeria.

This was disclosed in an announcement by the Senior Particular Assistant to the President on Media & Communications (Workplace of the Vice President), Stanley Nkwocha, on Could 7, 2025.

The inter-agency job pressure contains the Nationwide Id Administration Fee (NIMC), Nationwide Social Security-Nets Coordinating Workplace (NASSCO), Nationwide Money Switch Workplace (NCTO), Central Bank of Nigeria (CBN), and the Nigeria Inter-Bank Settlement System (NIBSS).

Monetary Inclusion 

In keeping with the assertion, the Federal Authorities has now commenced the implementation part of its financial and monetary inclusion technique geared toward bettering entry to financial alternatives for Nigerians by means of the newly established job pressure.

• On the inaugural assembly of the Technical Committee of the Presidential Committee on Financial and Monetary Inclusion (PreCEFI), Deputy Chief of Staff to the President (Workplace of the Vice President), Senator Ibrahim Hassan Hadejia, emphasised that the assembly introduced collectively high-level stakeholders from authorities companies, monetary establishments, and academia to align on the President’s imaginative and prescient and execution roadmap.

“We’re off to an excellent begin. What has led to the success of what we’ve finished thus far is alignment and inclusive stakeholder engagement. Monetary inclusion is not only about having a bank account-it means entry to high quality providers, credit score, and the visibility that digital platforms supply,” he stated.

• Senator Hadejia referenced latest discussions on the World Bank Spring Conferences, highlighting that “the entire dialog was about India and what it has been capable of obtain in lifting its inhabitants out of utmost poverty by means of monetary inclusion.” 

• The committee’s secretary, Dr. Nurudeen Abubakar Zauro, who additionally serves because the Technical Advisor to the President on Monetary Inclusion, acknowledged that the assembly authorised PreCEFI’s strategic roadmap and governance construction.

 “An inter-agency committee has been established to deal with delays within the disbursement of conditional money transfers to fifteen million households as mandated by President Tinubu,” Dr. Zauro stated.

• In keeping with Dr. Zauro, the duty pressure’s aim is to unlock bottlenecks and fast-track the distribution of crucial monetary assist to Nigeria’s most weak.

• He added that his crew would additionally current an information report back to the Nationwide Financial Council and the Nigerian Governors Discussion board to make sure information is domesticated and acted upon on the subnational degree.

Backstory 

President Bola Tinubu, in 2023, formally launched the conditional money switch program focused at 15 million households throughout the nation, every set to obtain N75,000 inside three months.

The formal launch was held throughout the Worldwide Day for the Eradication of Poverty.

The President was represented by the Secretary to the Government of the Federation, Sen. George Akume, who acknowledged that the present administration had strategized a number of means to sort out poverty within the nation.