Connect with us

Business

FG Commences Disbursement of N20,000 to Households

Published

on

Buhari
  • FG Commences Disbursement of N20,000 to Households

The Federal Government through the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development has commenced the disbursement of N20,000 to 5,000 beneficiaries in the Federal Capital Territory.

According to the ministry, the initiative would ease the burden of the lockdown on families that depend on daily income and also compel them to stay at home as the nation continues to curb the spread of the coronavirus.

Sadiya Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development, said the initiative was under the ministry’s Conditional Cash Transfer programme.

She added that the N20,000 covers a period of four months and was in line with the directive issued by President Muhammadu Buhari on March 29, 2020.

Speaking to journalists after giving out cash to some of the benefiting households in the Kwali area of Abuja, Farouq said, “The CCT is for poor and vulnerable households in the country. Beneficiaries are entitled to N5,000 every month.

“Today’s payment of N20,000 to each beneficiary is for four mouths. It is going to happen all over the country, but we are starting with FCT, Lagos and Ogun. These are the frontline states. Other states will follow.”

She added, “With the current pandemic and circumstances on ground, this amount will go a long way to support the families in their daily lives.

“Today, we are giving out N20,000 each to about 190 beneficiaries in Kwali Area Council. The total number of beneficiaries in FCT is 5,000.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Advertisement
Advertisement