buhari govt breaks silence on mismanaging sips fund - Buhari Govt. Breaks Silence On Mismanaging SIPs fund

Buhari Govt. Breaks Silence On Mismanaging SIPs fund

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Nigerians have been assured that its social intervention funds have not been mismanaged by the Federal Government.

The FG gave the assurance in a press release today, through the National Social Investment Office (NSIO).

It explained that the funding and disbursement of its resources had always been done by the Ministry of Budget and National Planning while maintaining that the Vice President Office was not involved in the financial transactions or the disbursement of funds for the programme.

It further clarified that the Steering Committee for the NSIO, which was chaired by the Vice President, only supervises the implementation of the Social Investment Programmes, SIPs.

According to Bibiye, 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.

The press release read in part, “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 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 much 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.”

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