₦airaland Forum

There are fresh concerns over the launch of a fresh $1 billion cash transfer recently unveiled by the federal government, following the Auditor-General for the Federation’s query of N33.75 billion transferred to more than 3.29 million households in 2023.

The Auditor-General’s concerns are contained in the 2024 Annual Report on Non-Compliance and Internal Control Weaknesses in Ministries, Departments and Agencies (MDAs), which examined transactions of the National Cash Transfer Office (NCTO), Abuja, for the 2023 financial year. The report lamented that it could not be verified whether the funds reached genuine beneficiaries.

The report, transmitted to the National Assembly on July 17, 2026, said electronic transfers amounting to N33.751 billion were made to 3,295,207 households and beneficiaries listed on the National Social Register and enrolled on the National Beneficiary Register across 35 states.

However, auditors said the NCTO failed to provide sufficient records to establish the identities of the recipients or reconcile the payments with the official beneficiary registers.

The auditors said the payment vouchers did not contain complete beneficiary details, while the records required to verify the transfers were not made available.

They specifically faulted the NCTO for failing to produce a Remita statement showing the beneficiaries who actually received the funds against those listed on the National Social Register and National Beneficiary Register.

“This hindered the authentication of the payments and made it difficult to ascertain whether the beneficiaries who received the funds were genuine,” the auditors said.

The report further alleged that officials of the cash transfer office obstructed efforts to obtain the Remita records needed for the audit.

“All efforts to obtain access to the REMITA statement were obstructed and denied by NCTO accounts staff, thereby frustrating the audit process,” the report stated.

Daily Trust reports that the federal government recently launched a $1 billion social protection programme designed to shift vulnerable Nigerians from temporary relief to lasting economic empowerment and self‑reliance.

The Household Prosperity and Empowerment Social Protection Project (HOPE-SP) was launched at the State House Banquet Hall in Abuja, alongside four additional programmes aimed at bolstering the nation’s humanitarian response and poverty-reduction framework.

However, the latest audit report from the Office of the Auditor-General for the Federation (OAuGF) says there is insufficient evidence to show that N33.75 billion in cash transfers meant for 3.29 million vulnerable households in 2023 reached genuine beneficiaries.

The auditors said the findings were contrary to the provisions of the Financial Regulations (FR) 2009, which require payments to be made only to persons named in payment vouchers or their authorised representatives.

They cited paragraph 613 of the regulations, which requires paying officers to satisfy themselves that the person receiving a payment is authorised to do so and, where necessary, provide proof of identity.

The auditors also cited paragraph 603(i), which requires vouchers to contain full particulars of each service and be supported by relevant documents to enable the payments to be verified.

Recall that state Governors in 2023 at the National Economic Council (NEC) meeting requested the disbandment of the register for lack of credibility, suggesting that a new register be compiled for the implementation of social intervention by the Federal Government.

However, the then Permanent Secretary in the Ministry, Dr. Sani Gwarzo, said that though the register might not be as accurate as expected, it’s a starting point and could be reviewed.

Subsequently, in January 2024, President Bola Tinubu suspended all programmes administered by the National Social Investment Programme Agency (NSIPA).

The NSIPA is domiciled under the Ministry of Humanitarian Affairs and Poverty Alleviation.

The suspension came amid ongoing investigations into alleged corruption in the Humanitarian and Poverty Alleviation Ministry which led to the suspension of the then minister Beta Edu


Poverty rate surges

Meanwhile, the World Bank had revealed that Poverty in Nigeria rose to 63 per cent in 2025 despite a slowdown in inflation, underscoring the limited impact of recent macroeconomic improvements on household welfare, the World Bank has said.

The bank disclosed this in its Nigeria Development Update (April 2026) titled “Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development,” released in Abuja on Tuesday.

The report showed that the national poverty rate rose from 40 per cent in 2019 to 45 per cent in 2020, 47 per cent in 2021, 51 per cent in 2022, 56 per cent in 2023 and 61 per cent in 2024.

It reached an estimated 64 per cent in 2025 and is projected to remain at 64 per cent in 2026 before falling to 61 per cent in 2027 and 59 per cent by 2028.

The increase has also been accompanied by a sharp rise in the number of Nigerians living in poverty.

The World Bank’s estimates put the number of poor Nigerians at about 80 million in 2019, rising to 95 million in 2020, 105 million in 2021, 115 million in 2022, 135 million in 2023 and 150 million in 2024.

The figure was projected at about 160 million in both 2025 and 2026 before declining gradually to 155 million in 2027 and 150 million by 2028.

The number of Nigerians living in extreme or ultra-poverty has also risen substantially, from approximately 30 million in 2019 to about 78 million in 2025 and 2026.

The World Bank, however, expects poverty to begin declining gradually as inflation eases and economic growth improves.

It projects average real GDP growth of 4.2 per cent between 2026 and 2028, supported by higher public investment, improved investor sentiment and structural reforms.

Inflation is also expected to moderate, with headline inflation projected to average 15 per cent in 2026 and fall to about 10.7 per cent by 2028.


AuGF’s report shows impunity among civil servants – Expert

A development expert and Executive Director at the Center for Fiscal Transparency and Public Integrity (CEPTI) Dr. Umar Yakubu, said the Auditor General’s report showed impunity among civil servants.

He said the Auditor-General’s report on the National Cash Transfer Office (NCTO) has once again exposed the staggering cost of opacity in public safety nets, where N33.75 billion in digital disbursements cannot be verified against genuine beneficiaries.

“When administrative staff actively obstruct auditors from accessing Remita records and multi-billion-naira transactions bypass mandatory pre-audits,we are looking at institutionalized impunity that actively shields corruption from public scrutiny.

“This systemic failure underscores why technology-driven oversight, rigorous transparency indices like the Transparency and Integrity Index (TII) and independent verification frameworks are non-negotiable for public spending in Nigeria.

“Social intervention programmes cannot function as opaque conduits for unverified expenditures while vulnerable populations remain statistical justifications for leaked funds,” he said.


CSO demands accountability before fresh disbursement

The Chancellor of the International Society for Social Justice and Human Rights (ISSJHR), Dr. Jackson Omenazu, described the Auditor-General’s inability to verify the cash transfers as a serious warning about the management of public resources.

The organisation demanded full disclosure of the N33.7 billion transfers before the government commits another $1 billion to social protection.

Omenazu said the Auditor-General’s constitutional responsibility to examine how public funds are received, disbursed and accounted for should not be frustrated by government officials.

“If public money cannot be independently audited, Nigerians have a legitimate right to ask: who is accountable for the money and where did it go?” he said.

The organisation called for the immediate publication of details of the N33.7 billion transfers, including beneficiaries, implementing agencies, amounts disbursed and the purpose of each payment.

It also demanded an independent forensic audit of the programme, with the findings made public as well as unrestricted access for the Auditor-General and other constitutionally authorised oversight bodies to records relating to the cash transfers.

ISSJHR urged the government to suspend additional disbursements or expansion of similar programmes until the outstanding accountability questions are resolved.

It said that if the proposed $1 billion package proceeds, the government should establish safeguards including transparent procurement, beneficiary verification, independent monitoring and periodic public reporting.

The organisation also called for recovery and prosecution where investigations establish that public officials, contractors or beneficiaries misappropriated public funds.

Godspowerpro:
What is auditor general saying, dem yarimo, Helinues, Madridguy etc household see am na

Parachoko:
I can still remember In 2023, when I complained about how this Cash Transfer was done, some were attacking my comment

Parachoko:
I can still remember In 2023, when I complained about how this Cash Transfer was done, some were attacking my comment

Ofunaofu:
Report: Current Govt Added More Debt in Two Years Than Nigeria Accumulated in 55 Years

• Decries Nigeria’s debt service-to-revenue ratio

•Urges FG to declare fiscal emergency

A new policy brief has warned that Nigeria’s worsening debt profile and weak revenue generation have pushed the country into a dangerous fiscal position, with the current administration accumulating more debt in two years than Nigeria recorded during its first 55 years after independence.

The report, released by the Alliance for Economic Research and Ethics LTD/GTE, a Nigerian policy think tank, argued that the country’s debt crisis has evolved into a governance and revenue emergency, as debt servicing obligations now exceed the federal government’s retained earnings.
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According to the think tank, Nigeria’s public debt rose sharply from N87.38 trillion in June 2023 to N159.28 trillion by the end of 2025, with President Bola Tinubu’s administration accounting for about N65.9 trillion of the increase within its first two years in office.

The organisation in the brief titled: “Nigeria Is Borrowing to Breathe—and the Clock Is Ticking”, noted that Nigeria accumulated only about N12.06 trillion in debt from independence in 1960 up to 2015, meaning the current administration added more than five times that amount in just 24 months.

The report stated that while previous governments also contributed significantly to the country’s rising debt burden, the speed of accumulation under the current administration had intensified concerns over fiscal sustainability.

“President Bola Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The current administration has added more than five times that amount in 24 months,” it argued.

It recalled that Nigeria briefly became almost debt-free externally after the administration of former President Olusegun Obasanjo secured an $18 billion Paris Club debt relief package in 2005 and paid $12 billion to extinguish about $30 billion in external obligations.


https://www.thisdaylive.com/2026/05/22/report-current-govt-added-more-debt-in-two-years-than-nigeria-accumulated-in-55-years/

Parachoko:
I can still remember In 2023, when I complained about how this Cash Transfer was done, some were attacking my comment

BioData45:
That program can never get to those that needs it. Not even in this country with so many dubious leaders and citizens.

phemmie06:
Are you expecting those who hoarded garri during covid 19 to distribute money?

helinues:
I have been on this thread before you but as the trolling is now a curse, it's a must to do

Godspowerpro:
But if you're not receiving largesse, how else would you justify how you twist your narratives each time contrary news are posted concerning this administration.