Tuesday, June 18, 2024
HomenewsFG Goes After Defaulting Banks After Public Outcry, Resulting in 774,000 Jobs

FG Goes After Defaulting Banks After Public Outcry, Resulting in 774,000 Jobs

The Federal Government has summoned seven banks that are responsible for disbursing N20,000 stipends to 774,000 participants in the Extended Special Public Works (ESPW) program.

The administration fine-tuned methods for payment of program recipients during a meeting that lasted several hours on Monday.

Festus Keyamo, the Minister of State for Labour and Employment, gave an update following the meeting, directing all participants who have no difficulties with their bank accounts to immediately go to their banks and clear issues.

According to him; “For those who do not have problems with their BVNs but have not received payments, they should go to the banks that registered them to clarify the issues.

“The banks are mandated to issue ATM cards to all participants. Participants are therefore encouraged to collect their ATM cards from the banks so that they can access their payments from various cash points without necessarily going to the banks.

“Participants are assured that their stipends would be paid as soon as all issues are resolved.”

The minister explained further that the meeting agreed that banks are no longer restricted to their initially allotted Local Governments.

According to him, “Consequently, selected participants are at liberty to approach any of the seven selected banks nearest to the Local Government where they were selected. The Banks are Access, FCMB, Fidelity, Heritage, UBA, Yobe MFB and Zenith.

“So far, the NDE has authorized the payments of one-month stipends to all those that have been verified. As shown above, all parties are making strenuous efforts to resolve issues of those yet to receive the first month stipends before the commencement of the second tranche of payments.”

The meeting had in attendance, representatives of the office of the Minister of Labour and Employment, the National Directorate of Employment and banks.

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