Below is the Latest NPower Payment News for Today December 17th, 2023.
GoldenNewsNg report that the Director of finance has revealed the challenges behind the delay of NPower Stipends Payment. according to him the funds allocated for NPower batch C Beneficiary Payment was spent for something else. Read more details below….
N-Power Payment Updates: Insights into December 17th, 2023, Finance Challenges Revealed
In a recent revelation, the Director of Finance and Account at the National Social Investment Programmes (NSIP), operating within the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, shed light on the reasons behind the delayed stipend payments for N-Power beneficiaries. This disclosure occurred during a crucial budget defense session, unraveling the intricate financial challenges faced by the ministry.
Understanding the Budget Reallocation Challenge
The delay in payments can be traced back to the reallocation of funds from the Social Investment office to other ministries, specifically for recurrent expenditures. An astounding N127 billion was redirected from the social investment office, earmarked for N-Power stipends, posing significant hurdles in managing the financial aspects of the N-Power program.
Impacts on N-Power Beneficiaries
The repercussions of this unforeseen reallocation are felt differently by N-Power beneficiaries. While Category 1 (C1) beneficiaries received a comprehensive 15 months of stipends covering their 12-month service year and an additional 3-month exit package, Category 2 (C2) beneficiaries only received stipend payments for the three months spanning October to December 2023. This leaves N-Power Batch C2 beneficiaries owed a substantial 9 months of stipends from January to September 2023, impacting a total of 440,000 eligible recipients.
Ministry’s Efforts Amidst Challenges
Acknowledging the financial challenges faced, the director highlighted the Ministry’s struggle to obtain necessary funds for the N-Power program, directly contributing to the delayed payments. Despite these challenges, the Ministry is actively working to secure additional funds to fulfill the outstanding stipends owed to N-Power Batch C2 beneficiaries.
Minister’s Previous Assurance and Ongoing Efforts
While the Minister had previously assured the recovery of funds and forthcoming payments to beneficiaries, the detailed explanation from the director provides valuable context to the financial complexities the Ministry faces in managing the N-Power program. For a more in-depth understanding, a video containing the director’s explanation is linked below, offering additional insights into this critical update.
Conclusion
As the Ministry navigates these financial challenges, it recognizes the importance of resolving the delayed stipend payments to ensure the timely disbursement of funds to deserving N-Power beneficiaries. Despite the obstacles faced, the Ministry remains committed to securing additional funds and addressing the outstanding stipends for N-Power Batch C2. Beneficiaries and the public are encouraged to stay tuned for further updates on this unfolding situation, as the Ministry continues its efforts to ensure the continued success of the N-Power program.
