Regulatory Alerts2013-10-09 | ACGSF/08/2013August 2013 Report of Activities under the Agricultural Credit Guarantee Scheme
According to the data provided by the Development Finance Offices Coordination Office, Development Finance Department, and Central Bank Nigeria in Abuja, as of December 2019, the total amount disbursed under the Conditional Cash Transfer scheme since its inception was N211,669,647.58 (USD 548,304.90). The beneficiaries covered by this program were predominantly in the states of Kano, Lagos, Katsina, Jigawa, Zamfara, and Yobe. The Conditional Cash Transfer scheme is a social protection initiative aimed at reducing poverty, improving access to education and healthcare, and empowering women through cash transfers to poor households that meet specified conditions. These conditions may include children's school attendance, health checkups for mothers and children, and participation in community development activities. The disbursements under this scheme have been made across all the 36 states of Nigeria, with notable contributions from major states like Kano, Lagos, and Katsina. However, it is evident that a significant portion of these funds has yet to be disbursed or utilized in many states. The discrepancies in the disbursements can be attributed to various factors such as the capacity of state governments to manage and utilize the allocated funds effectively, differing poverty levels across states, and the challenges faced by beneficiaries in accessing these resources. The Conditional Cash Transfer scheme represents a crucial initiative in Nigeria's efforts towards poverty reduction and socioeconomic development. However, for this program to achieve its desired impact, it is imperative that more effective strategies are implemented at both federal and state levels to ensure efficient utilization of allocated funds, improved accessibility for beneficiaries, and comprehensive monitoring and evaluation mechanisms in place to assess the program's effectiveness and impact.