General
FG Pays N5000 to 1m Poorest Nigerians
By Modupe Gbadeyanka
As part of its determined efforts to touch the lives of Nigerians positively the President Muhammadu Buhari administration has started the payment of N5,000 monthly stipends to the poorest and the most vulnerable in the country through the Conditional Cash Transfer (CCT) of its Social Investment Programmes, SIP.
Under the CCT, one million Nigerians would receive N5000 monthly payments as a form of social safety net for the poorest and most vulnerable as budgeted for in the 2016 Budget. In the first batch that commenced last week, nine states would be covered, and many of the beneficiaries have already reported receiving their first payments by Friday last week, December 30, 2016.
Funds for the commencement of the payments in four states were released last week to the Nigeria Inter-Bank Settlement System (NIBSS) – the platform that hosts and validates payments for all government’s social intervention programmes. Funds for another set of five states to complete the first batch of nine states would follow soon.
Though the sequence for the payment of the money would be operationally managed by NIBSS, beneficiaries in Borno, Kwara and Bauchi States have started receiving the money. The other states in the first batch to commence the CCT payments are Cross Rivers, Niger, Kogi, Oyo, Ogun & Ekiti States.
The nine pilot states were chosen because they have an existing Social Register that successfully identified the most vulnerable and poorest Nigerians through a tried and tested community based targeting (CBT) method working with the World Bank. However other states have already begun developing their Social Registers and would be included in subsequent phases of the CCT implementation.
Beneficiaries of the Conditional Cash Transfer of the Federal Government would be mined from the Social Register, initially developed by 8 States through a direct engagement with the World Bank. Those states are featured in the first batch, with the added inclusion of Borno States where a validated list of IDPS was compiled in addition to the Social Register which is expected to go round the country.
Working with the World Bank, the CBT process has now been adopted for developing the Social Register in the other States around the country, for transparency, objectivity and credibility in the selection of the poorest and most vulnerable beneficiaries for the programme.
The Federal Government will actually commence community mobilization for the creation of the Register in more States soon, to expand the scope and reach of the CCT across the country.
Meanwhile, Plateau, Jigawa, Adamawa, Anambra, Benue, Enugu, Katsina & Taraba States have so far complied with the stipulated framework provided, and are set for the community based targeting method for the development of their Social Register within their jurisdictions.
These States are to be followed by Delta, Gombe, Kaduna, Kano, Imo and Ogun States. Once the community mobilization, identification and selection processes are completed, the information garnered from the poorest households would be entered onto the Social Register in the states and the National Register at NIBSS, after which the cash transfers would be disbursed to the beneficiaries.
All the funds approved for the Federal Government’s Social Investment Programmes, SIP, are domiciled with the Ministry of Budget and National Planning. In addition, the payment information and processes for all beneficiaries of the Federal Government’s SIP are hosted at NIBSS, as the Consolidated Beneficiary Register, to ensure and fortify efforts at authentication and verification, as well as for effective and efficient programme management.
With the commencement of the CCT, the Buhari administration is now implementing four of the Federal Government’s SIP.
Besides the CCT, the N-Power Volunteer Corps designed to hire half a million unemployed graduates which has now engaged 200,000, and the National Homegrown School Feeding Programme now running in three states, the Buhari administration has also kicked-off the Government Enterprise and Empowerment Programme, (GEEP).
Under GEEP, soft loans ranging from N10,000 to 100,000 have been designed for artisans, traders, market women among others.
Already, thousands of cooperatives, market women associations, farmers and enterprising youths, have been identified and registered for the purpose, on an ongoing basis, and the disbursement of the soft loans through the Bank of Industry have started since Nov 25, 2016.
At the last count, for the first phase, beneficiaries have been drawn from the Federal Capital Territory, FCT, Abia, Adamawa, Bauchi, Delta, Imo, Kwara, Kano, Katsina, Lagos, Osun, Oyo, Ogun and Kogi States.
However, disbursements were halted and deferred until after the festive season. Vetting and approval of beneficiaries are now being continued through the month, with the expectation and plan that by month-end disbursements would have been made to 33,000 beneficiaries.
Regarding the 200,000 beneficiaries of the N-Power programme, close to 50% of the graduates, have now been physically verified, and started receiving their monthly stipends of N30,000 last week. A second batch of 300,000 unemployed graduates are expected to be selected early this year to make up the half a million target set by the Buhari administration.
The verified graduates are now being deployed to work as assistant teachers in schools, as community health aides and as agricultural extension workers, in more than 20 States of the Federation. These States include; Abia, Adamawa, Bauchi, Anambra, Benue, Cross Rivers, Borno, Gombe, Edo, Jigawa, Katsina, Plateau, Kogi, Osun, Rivers, Zamfara, Niger, Sokoto, Ogun and Taraba.
Government has also started the implementation of the National Home-grown School Feeding programme designed to feed 5.5 million school children for 200 school days in the first phase of the programme. Although the initial design was to feed pupils in 18 States, funding challenges had affected an earlier take-off. But the programme has now commenced in Osun, Kaduna and Anambra States. More states are expected to join this new year.
In the new year, it is the plan of the Federal Government to scale up the implementation of the SIP to touch the lives of millions of Nigerians in fulfillment of its promises and in furtherance of its Change agenda.
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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