President Bola Tinubu has established a special presidential panel to conduct a thorough review and audit of the current financial frameworks and policy guidelines of the social investment programs.
The panel, led by Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, will be responsible for implementing a complete re-engineering of the financial architecture of the programs.
This includes making detailed modifications to the procedures that govern the implementation of these programs going forward.
The panel was formed following the temporary suspension of the four programs under the National Social Investment Programs Agency (NSIPA) for a period of six weeks. In addition to the Minister of Finance, the panel also includes ministers from various strategic sectors, ensuring a multi-disciplinary approach to the reform efforts.
President Tinubu is confident that the Special Presidential Panel will regain the trust of the public by implementing new governance frameworks that prioritize transparency and accountability.
The panel aims to ensure that disadvantaged households across the nation benefit from these vital programs without any abuse or incompetence. In light of ongoing investigations into alleged fraud, the president has temporarily suspended the N-Power Programme, Conditional Cash Transfer Programme, Government Enterprise and Empowerment Programme, and Home Grown School Feeding Programme for a period of six weeks.
The suspension is accompanied by concerns over operational lapses and improprieties in payments to program beneficiaries. As a result, all NSIPA-related activities, including distributions, events, payments, collaborations, and registrations, have been frozen during this suspension period.
