Ecobank has been appointed to partner The Office of the Senior Special Assistant to the President on the Millennium Development Goals (MDGs) in the Conditional Cash Transfer scheme to assist less-privileged families with monthly social subventions.
The programme will disburse funds to over 56,000 households in 600 communities in the first phase, a period of 12 months.
The states selected for this phase are Abia, Adamawa, Anambra, Akwa Ibom, Bauchi, Bayelsa, Borno, Delta, Ebonyi, Edo, Ekiti, Enugu, Jigawa, Kano, Kebbi, Kwara, Niger, Ogun, Osun, Oyo, Plateau, Sokoto, Yobe and Federal Capital Territory, Abuja.
Nigeria will provide N187.5 million for each of these states, while the states provide a matching grant of equal amount.
Ecobank has deployed agent points in 600 communities and local government areas across the 24 states while product education as well as customer support services to the beneficiaries is in progress.
Speaking on the partnership over the weekend, Jibril Aku, Managing Director of Ecobank, said “the bank already had N6.2 billion in its coffers ready for disbursement through the Ecobank Mobile Money platform.N5, 000 would be disbursed monthly for 12 months into the beneficiaries’ wallet while bulk-sum of N100,000 would be paid to each beneficiary at the end of the program as an exit strategy.”
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