How N5000 Monthly Stipend Will be Paid to Nigerians – Presidency

The Senior Special Assistant to the Vice President Laolu Akande, in a statement released on Sunday released details of the N5000 monthly stipend for poor Nigerians.

He called it the Conditional Cash Transfer, CCT, where one million extremely poor Nigeria will receive N5000 monthly in 2016.

He said the money would be paid directly to the beneficiaries through a payment system that is being worked out. “There would be no middle agents involved official or private,” according to Akande.

He added that World Bank and the Bill Gates Foundation are collaborating with the presidency to develop an efficient payment system.

He also observed that the recipients of the CCT would meet the conditions of their children participating in immunization and school enrollment but also boost the economy as the money would boost consumer spending in the economy.