FG extends cash transfer program to include pensioners

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Naira gains ground, trades at N1,025/$ in parallel market
Naira gains ground, trades at N1,025/$ in parallel market

In response to the recent fuel subsidy removal and its potential impact on Nigerians, the Federal Government has expanded the conditional cash transfer (CCT) program, including pensioners under the Defined Benefit Scheme (DBS) as beneficiaries.

This decision was communicated through a statement by the Corporate Communications unit of the Pension Transitional Administration Directorate (PTAD), offering clarification on the CCT program’s inclusion of pensioners.

PTAD explained that the move to include pensioners in the cash transfer initiative came after a meeting held in October between PTAD, the Nigeria Union of Pensioners (NUP), pension union executives, and pension desk officers of PTAD’s pension department.

According to PTAD, “The Pension Transitional Administration Directorate (PTAD) and the Nigeria Union of Pensioners (NUP) during an interactive session with stakeholders, including the Nigeria Pension Commission (PenCom), Pension Union Executives, and Pension desk officers of the parastatals pension department on Wednesday, October 18, 2023, clarified that pensioners under the Defined Benefit Scheme (DBS) are part of the priority groups to benefit from the just approved N25,000 Conditional Cash Transfer (CCT).”

Mr. Sulayman, the Director of the Civil Service Pension Department (CSPD), highlighted that PTAD, in collaboration with the Nigeria Union of Pensioners (NUP), has meticulously collected and verified the data of all DBS pensioners, promptly submitting it to the Ministry of Humanitarian Affairs and Poverty Alleviation.