The National Social Investment Management System (NASIMS) has assured us that all outstanding stipends owed to beneficiaries of the Batch C Stream 1 Npower Programme will be paid, while also thanking them for their patience with the payment delay, which has been ongoing since the program’s inception.
On Friday, Npower Management announced the start of the January 2022 payment to beneficiaries, as well as an assurance that the Npower Batch C Stream 1 beneficiaries’ bank accounts would be credited in the shortest period feasible.
In addition to the unpaid Stipends for January, February, and March 2022, a small number of Batch C Stream 1 Npower beneficiaries have yet to receive Stipends for a few months in 2021, despite the fact that many have been paid for the months in 2021.
“While the January payment process has been initiated and crediting of accounts is expected to begin at the shortest possible time, kindly note that all 2021 outstanding payments will be cleared while current payments are in progress. Despite the challenges encountered, we appreciate your patience so far”, NASIMS stated.
Beneficiaries of the Batch C Npower Program, which began towards the end of August 2021, received a four-month stipend of N30,000 apiece beginning September 2021, as part of the one-year Batch C Npower Program.
According to the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development’s design of the Batch C Npower Program, beneficiaries will receive their final stipend payment in August 2022, marking the end of the one-year Npower Program and possible transition to the NEXIT (NEXIT loan) Program.
According to the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development, NEXIT (N-EXIT), also known as the NEXIT Loan Programme, is an Exit or Transition Plan that is designed to train and provide soft loans to Npower beneficiaries after they have completed their time in the program.
It is organized by the Ministry in cooperation with the Central Bank of Nigeria to provide loans ranging from N250,000 to N3 million under the CBN Intervention Programs, specifically the AGSMEIS Loan.
AGSMEIS CBN/NEXIT The Ministry has suggested that the loan will begin with the exiting Batch A and B Npower beneficiaries and will move to the Batch C Npower beneficiaries.
Batch C Stream 1 Npower beneficiaries would have only 4 months to abandon the Npower program and enter the NEXIT Loan race by the end of April 2022.
Meanwhile, the Batch C Stream 2 Npower Program, which will employ 490,000 Npower recipients in order to fulfill President Muhammadu Buhari’s intention to expand the Batch C Npower Program to one million Nigerians, is yet to start.
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Source: Nyscinfo
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