The World Bank is rolling out an $800m (N329.53bn at official exchange rate) facility designed to fund a large-scale Conditional Cash Transfer programme in Nigeria, the Nigeria Governors’ Forum hinted in its 36th teleconference meeting communique released on Thursday.
It said the fund was made known to the governors by the World Bank Country Director, Shubham Chaudhuri, during the meeting, according to the communique which was signed by the NGF Chairman, Kayode Fayemi.
The communique read in part, “Forum members also listened to the World Bank Country Director, Shubham Chaudhuri, on the rollout of a World Bank financed $800m facility designed to fund a large-scale Conditional Cash Transfer programme across the country.
“The forum thereafter resolved that each state governor will establish and chair a steering committee to oversee the Conditional Cash Transfer initiative to ensure that the programme aligns with the vision of the state government.”
The Federal Government supports indigent Nigerians by giving them cash through the CCT programme, which is managed by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.
The NGF further stated that it received a presentation from the humanitarian ministry on the cash transfer programmes of government.
Millions of Nigerians, according to officials of the humanitarian ministry, have received cash transfers from the Federal Government through the CCT programme.