FG Cash Transfer Program Disbursement Update - 28 October 2023
Saturday 28 October 2023
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In a significant move aimed at alleviating the impact of fuel subsidy removal on Nigerian citizens, the Federal Government has expanded its Conditional Cash Transfer (CCT) program to include pensioners under the Defined Benefit Scheme (DBS). This latest development was disclosed by the Corporate Communications unit of the Pension Transitional Administration Directorate (PTAD), which clarified the details of the CCT program for pensioners.
This progressive decision was a result of collaborative efforts between PTAD, the Nigeria Union of Pensioners (NUP), pension union executives, and pension desk officers of PTAD's pension department during a meeting held in October. The statement released by PTAD highlighted the significance of this inclusion in the cash transfer program, stating, "Pensioners under the Defined Benefit Scheme (DBS) are part of the priority groups to benefit from the just approved N25,000 Conditional Cash Transfer (CCT)." CONTINUE READING........
The Director of the Civil Service Pension Department (CSPD), Mr. Sulayman, further elaborated on the process, noting that PTAD, in partnership with the NUP, successfully captured and verified the data of all DBS pensioners. This verified data has been promptly submitted to the Ministry of Humanitarian Affairs and Poverty Alleviation for the disbursement of funds to the pensioners.
The CCT program, which was launched by the federal government earlier this October, is designed to provide financial relief to 15 million economically vulnerable Nigerians. The program aims to distribute N25,000 monthly to these beneficiaries for a period of three months. CONTINUE READING.....
With the inclusion of pensioners in the Conditional Cash Transfer program, the government is taking a vital step towards ensuring that a wider range of citizens can benefit from this financial support, particularly in the face of economic challenges brought about by the removal of the fuel subsidy.
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