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FG announces plans to restart direct cash transfers to 12m Nigerians



Only about 5% of Nigerians have over N500k in their bank accounts — Finance minister, Wale Edun
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The Federal Government has announced plans to restart direct cash transfers to the poorest and most vulnerable Nigerians, in a bid to cushion the economic hardship in the country.

Minister of Finance & Coordinating Minister for the Economy, Wale Edun, disclosed this at an event in Uyo, Akwa-Ibom state on February 21st. Presently, approximately 3 million people are recipients of these programmes, but due to the escalating cost of living, the government anticipates that an additional 12 million households could qualify for these direct payments.

According to reports, the Finance Minister said:“The presidential panel on the social investment programmes, have prepared to go to Mr. President with an internal recommendation to restart the direct payments to the poorest and the most vulnerable. Everything is being done to ease the pain.

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