Vice President Yemi Osinbajo , inspecting food items at the Utako Market, during the launch of TraderMoni in Abuja on Thursday . 04819/6/9/2018/Ibrahim Sumaila/JAU/NANThe National Social Investment Office has said that contrary to rumours, the office of Vice President was not involved in financial transactions or the disbursement of funds for the National Social Investment Programmes
“Conditional Cash Transfer beneficiaries are identified by members of the communities themselves, through a tripartite method, which includes technology, for objectively and scale. At commencement, the World Bank community-based targeting process was adopted to assure of community ownership of the process.
Consequently, that Ministry commenced the management of the financial components of the N-SIPs. The Ministry also serves as the Secretariat of the Steering Committee that supervised the programme coordination, also responsible for presenting memos about the schemes each time that was required at the Federal Executive Council.
The NSIO has continued to prioritize 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. Under the Government Enterprise and Empowerment Programme which provides collateral and interest-free financial support to businesses at the bottom of the financial pyramid, the payment process is also transparent. GEEP is being managed by the Bank of Industry since the NSIO has deliberately retained a lean team, being a coordinating office. Moreover, the BOI has offices around the country, with accredited agents to support the collection of repayments.
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