Economic Expert Advocates for Overhaul of Federal Government's Cash Transfer Initiative

In a recent interview with the News Agency of Nigeria (NAN), Professor Uwaleke, the President of the Capital Market Academics of Nigeria (CMAN), called for a comprehensive redesign of the Federal Government's cash transfer programme. He argued that while the initiative aims to alleviate poverty, its current implementation lacks the necessary framework to achieve the desired impact effectively.

Professor Uwaleke identified several key areas requiring urgent attention, including the targeting process, distribution mechanisms, and monitoring systems. He pointed out that many eligible beneficiaries often fall through the cracks due to inefficient targeting strategies that fail to reach those most in need.

“The cash transfer programme should not only provide financial support but also include measures that empower beneficiaries economically,” Uwaleke stated. He suggested integrating skill acquisition and financial literacy components into the programme to ensure that recipients are equipped to utilize the funds for sustainable development.

Moreover, he emphasized that transparency and accountability must be prioritized to restore public confidence in the initiative. Uwaleke believes that by adopting a more strategic and inclusive approach, the Federal Government can maximize the potential of the cash transfer programme and make a significant dent in Nigeria's poverty levels.