Nigeria: Ecobank disburses MDGS funds via MobileMoney

JUNE 03,2014.


In line with its commitment to poverty alleviation in Africa, Ecobank said it has gone into partnership with the federal government and Akwa Ibom state on the disbursement of the Millenium Development Goals (MDGs) family life Conditional Cash Transfer (CCT) Scheme.

According to a statement from the bank, total sum of N375 million has been disbursed to 2,275 beneficiaries Uyo.The statement quoted the Managing Director of Ecobank Nigeria Limited, Mr. Jibril Aku as saying that the bank was poised to consolidate its existing partnership with the federal and state governments in all parts of the country.

He added that partnership is with a view to ensuring that all beneficiaries of the MDGs - CCT scheme have equal opportunity to financial services such as micro-savings and micro-loans.

Aku, who was represented by the Executive Director, South South/South East, at the disbursement ceremony, Mr. Kingsley Umadia further stated that "the partnership is clearly in line with our mission to provide customers with financial products and services that are convenient, reliable and accessible."

He explained that the programme is on the Ecobank MobileMoney platform, noting that wallets have been created for the beneficiaries and disbursement of funds into their wallets monthly on instructions from the office of the Senior Special Assistant to the President on MDGs.

Also speaking, Deputy Governor, Akwa Ibom State, Valerie Ebe, said the participation of the state in the MDGs - CCT scheme was targeted at eradicating poverty in the state.

She restated the state government's commitment and determination to improving maternal health and reducing child mortality in the nooks and crannies of the state.

On her part, the Senior Special Assistant to the President on MDGs, Dr. Precious Gbeneol, explained that the scheme is a component of the social safety net of the federal government aimed at improving the lives of the extreme poor in the country.

According to her, "it is a community driven development approach designed to reduce poverty and vulnerability.

"It entails providing a monthly stipend of N5, 000 to the extreme poor households on the condition that children of basic school age in those households attend school, while pregnant women in the households attend hospital for full antenatal care." She emphasised that the objectives of the scheme in Akwa Ibom State are in tandem with the vision of the Family Life Enhancement Initiative of the wife of the governor.