Financial Inclusion: FG Moves to Fast-Track Cash Transfers to 15m Households

The Federal Government has commenced the implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians.

To achieve this, an inter-agency task force has been established to address challenges delaying President Bola Tinubu’s approved conditional cash transfers to 15 million vulnerable households.

In a statement by the Senior Special Assistant to The President on Media & Communications (Office of The Vice President), Mr. Stanley Nkwocha said the task force includes key agencies such as 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).

Their goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable populations.

The Deputy Chief of Staff to the President, Sen. Ibrahim Hadejia, reiterated the importance of alignment and inclusive stakeholder engagement in achieving financial inclusion.

“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.

The committee’s Secretary, Dr. Nurudeen Abubakar Zauro, disclosed the approval of the 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.

The Director-General of NIMC, Mr. Abisoye Coker-Odusote, noted the role of digital identity in achieving inclusion goals. “The beauty of the NIN is that it bridges the financial divide. It provides access to health, education, and agricultural services and strengthens national data infrastructure,” she said.