“Cash transfer, in my opinion, is a scam. I can be very certain about that, because who are you transferring the money to … About 70 to 75 percent of the rural population in North West are financially excluded completely. They do not even have a bank account, so who are you transferring the money to?”
By Emma Ogbuehi
Governor Uba Sani of Kaduna State has described the proposed cash transfer policy of the Federal Government as a scam.
Sani stated this while speaking in an interview with Arise Television’s News Night on Friday.
The governor said, “My position has always been that, at this critical time, cash transfer should not be something that we should bring up, completely. I think that cash transfer for me, in my opinion, is a scam. Completely is a scam. I can be very certain about that, because who are you transferring the money to?
“Let me give an example, go and check the current statistics. Like I said, as the Chairman, Committee of Banking for four years in Nigeria, I oversight Central Bank, I oversight all the commercial sector of our economy for the last four years and I look at the statistics, I will be very firm on this issue and you can go and check it.
“About 70 to 75 percent of the rural population in North West are financially excluded completely. You will have to go and check, these people we are talking about are important people in the society. They do not even have a bank account so who are you transferring the money to?
“Let’s try and work very hard to make sure that they are financially included, that is the most important thing and I will like to call on our development partners, the World Bank, to put more money towards bringing more people into the financial services and the vulnerable in particular.
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“Let’s put more money to ensure that we open accounts for them, get them involved, if we don’t do that, no matter what we do however you do it, money will go to the wrong people, that’s the fact.”
President Bola Tinubu had earlier unveiled his administration’s plan for a monthly N8,000 transfer to 12 million of the poorest households in the country for six months, in a bid to cushion the effects of the removal of fuel subsidy.
The plan was contained in a letter read last Thursday on the floor of the House of Representatives regarding the $800 million loan request of the previous Muhammadu Buhari administration for a social safety net programme.
But days after the announcement, the Federal Government said it will review the move following the public outcry it generated among Nigerians.