The Federal Government will begin a monthly cash switch programme that can pay N50,000 to chosen vulnerable households.
The fee is meant to ease the strain of rising dwelling prices.
Minister of Humanitarian Affairs and Poverty Reduction, Bernard Doro disclosed this in an announcement on Friday.
Doro mentioned the scheme, referred to as the National Emergency Relief and Stabilisation Intervention, NERSI, is a presidential initiative geared toward offering short-term monetary help to hundreds of thousands of vulnerable Nigerians.
“Under this intervention, eligible beneficiaries will receive N50,000 monthly, providing direct assistance to help meet essential needs and ease the burden of living costs,” he mentioned.
The authorities linked the programme to ongoing meals inflation and mentioned it kinds a part of President Bola Tinubu’s Renewed Hope Agenda.
According to the ministry, beneficiaries will obtain a textual content message from the fee suppliers asking for their consent earlier than cash is shipped instantly to their financial institution accounts or cellular wallets.
The minister additionally cautioned that the programme doesn’t require functions, charges, or registration via brokers.
He suggested folks not to share their PINs or BVNs with anybody, warning in opposition to doable fraud.
The ministry mentioned it intends to run the intervention with transparency and accountability.
