The CCT ₦25,000 monthly Funds to poor Nigeria begins. According to the presidential spokesman, the CCT was part of efforts by the Tinubu-led administration to alleviate the immediate effect of the removal of subsidy on Premium Motor Spirit (PMS), known as petrol.
She said that the new initiative would empower the poor and most vulnerable members of society, adding that the sum was a source of uplifting the majority of beneficiaries.
In a recent interview, Tinubu spoke on Cash Transfers (CCT) Funds. He stated that the programmer will be able to reach 609 local governments, 6,272 wards and 48,789 communities. And that over 15 million households will benefit.
Federal Government Conditional Cash Transfers (CCT) loan: How it Works
While NCTO’s mandate is to deliver the targeted cash transfer across the country, the actual implementation happens at the state level through the State Cash Transfer Unit (SCTU).
SCTU manages and coordinates the targeted cash transfer and livelihood intervention. Each local government area establishes a cash transfer team to implement activities at the community level. This is to help:
- Improve household consumption.
- Increase in utilization of health and nutrition services.
- Improve school enrolment and attendance.
- Improve environmental sanitation and management.
- Encourage household financial and asset acquisition.
- Engage beneficiaries in sustainable livelihood.
Federal Government Conditional Cash Transfers (CCT) Free Loan Requirements
- Full Name
- Phone Number
- Bank verification Number (BVN)
- Your residential House address
- Bank account (To receive your loan funds)
- Next of Kin Full Name and Phone Number
Also, the finance minister said a biometric auditing system would be put in place to ensure efficiency and accountability in the disbursement of the funds to beneficiaries.
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