99.9% households yet to receive FG’s cash transfer – W’Bank

January 25 2024- The World Bank has reported that as of now, only 0.1% of the targeted poor and vulnerable households in Nigeria have received the Federal Government’s announced cash handout of N25,000 per month. The information was presented by the World Bank’s Lead Economist for Nigeria, Alex Sienaert, during the Nigeria Development Update in December 2023. The Federal Government’s Conditional Cash Transfer Program, introduced by President Bola Tinubu on October 17, 2023, aims to provide financial support to 15 million Nigerian households with monthly incomes below N75,000. The program, funded with $800 million from the World Bank, plans to reach 5 million households by the end of December, with only 1.5 million households having received payments so far.