FG debunks claims of mismanagement of social investment fund


The National Social Investment Office has debunked claims that the social intervention funds being managed by it had been mismanaged as being speculated in some quarters.

The NSIO said since 2016 when the scheme commenced, the funding and disbursement had always been done by the Ministry of Budget and National Planning.

The Communications Manager, Justice Bibiye said in a statement that the Office of the Vice President is not involved in the financial transactions or the disbursement of funds for the programme.

It said the Steering Committee for the NSIO, chaired by the Vice President, supervises the implementation of the SIPs.

The Steering Committee comprises nine ministers, including that of Finance; Education; Health; Agriculture, Trade and Investment, Youth and Sports, Women Affairs; Labour and Productivity; Information; with the Ministry of Budget and National Planning as the Secretariat.

It said, “The NSIO has continued to prioritise transparency in disbursements. It has also ensured a level-playing field for all the beneficiaries, collated data and verified identities of beneficiaries of the different schemes, through a close collaboration with relevant agencies of government.

“All payments on the programmes are transferred directly to beneficiaries from the Federal Government coffers.

“The only exception is in relation to the cash transfer programme, basically because the beneficiaries reside in areas where there is a dearth of banking infrastructure.

“Being too poor to travel long distances to receive the monthly N5,000 disbursements, the decision was taken to ensure the funds are conveyed to them at their places of residence.

“Furthermore, in a departure from past experiences in similar programmes, whereby beneficiaries were selected in an opaque manner, this Administration’s Cash Transfer beneficiaries are identified by members of the communities themselves through a tripartite method.”

It said at the commencement of the programme, geographical poverty mapping was utilized to determine the sequence of Local Government Areas to commence work.

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