The Federal Government on Wednesday established an inter-agency task force to fast-track and address challenges delaying President Bola Ahmed Tinubu’s approved conditional cash transfers to 15 million vulnerable households in Nigeria.
This was disclosed in a statement by the Senior Special Assistant to the President on Media & Communications (Office of the Vice President), Stanley Nkwocha, on May 7, 2025.
The inter-agency task force comprises the National Identity Management Commission (NIMC), National Social Safety-Nets Coordinating Office (NASSCO), National Cash Transfer Office (NCTO), Central Bank of Nigeria (CBN), and the Nigeria Inter-Bank Settlement System (NIBSS).
Financial Inclusion
According to the statement, the Federal Government has now commenced the implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians through the newly established task force.
- At the inaugural meeting of the Technical Committee of the Presidential Committee on Economic and Financial Inclusion (PreCEFI), Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hassan Hadejia, emphasized that the meeting brought together high-level stakeholders from government agencies, financial institutions, and academia to align on the President’s vision and execution roadmap.
“We are off to a very good start. What has led to the success of what we’ve done so far is alignment and inclusive stakeholder engagement. Financial inclusion is not just about having a bank account-it means access to quality services, credit, and the visibility that digital platforms offer,” he said.
- Senator Hadejia referenced recent discussions at the World Bank Spring Meetings, highlighting that “the whole conversation was about India and what it has been able to achieve in lifting its population out of extreme poverty through financial inclusion.”
- The committee’s secretary, Dr. Nurudeen Abubakar Zauro, who also serves as the Technical Advisor to the President on Financial Inclusion, stated that the meeting approved PreCEFI’s strategic roadmap and governance structure.
“An inter-agency committee has been established to address delays in the disbursement of conditional cash transfers to 15 million households as mandated by President Tinubu,” Dr. Zauro said.
- According to Dr. Zauro, the task force’s goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable.
- He added that his team would also present a data report to the National Economic Council and the Nigerian Governors Forum to ensure data is domesticated and acted upon at the subnational level.
Backstory
President Bola Tinubu, in 2023, formally launched the conditional cash transfer program targeted at 15 million households across the country, each set to receive N75,000 within three months.
The formal launch was held during the International Day for the Eradication of Poverty.
The President was represented by the Secretary to the Government of the Federation, Sen. George Akume, who stated that the current administration had strategized several means to tackle poverty in the country.
