Npower Stipend Update: March Stipend Payment to commence

The Ministry’s unmatched efforts recorded huge success in the payment of February Stipend to the Batch C Npower beneficiaries, which was only initiated three days ago.

A lot of the Batch C Npower beneficiaries who have received their February Stipend were overwhelmed by the speedy crediting of the beneficiaries’ Bank Accounts just a few days after the National Social System (NASIMS) announced the initiation of the Investment Management payment process on the 28th April 2022.

It is in the best interest of the Humanitarian Affairs Ministry that all remaining outstanding Stipends such as Payments for the month of March and April are completely paid to the beneficiaries without further delay, but will be paid one after the other, NASIMS assured.

Now that the February Stipend has been paid, in a shortest period of time, the March Stipend payment will be initiated and crediting of beneficiaries’ bank accounts speedily facilitated as impending technical issues delaying the payment are almost completely sorted out.

Meanwhile, the Batch C Stream 1 Npower beneficiaries banking with the United Bank of Africa (UBA) has condemned the unwarranted delay orchestrated by the bank in crediting the Npower beneficiaries UBA Bank Accounts.

The affected Batch C Npower beneficiaries lamented that while other Npower beneficiaries operating with financial institutions such as Access Bank, First Bank, Zenith Bank etc are raising accolades on the speedy payment of their February Stipends, UBA has been very slow in crediting their bank accounts for the months of January and February 2022.

The affected Npower beneficiaries called on the management of UBA to quickly resolve all issues holding their payments and credit their Bank accounts in order not to instigate more hardship on the already tensed beneficiaries.

So far so good, the Bach C Stream 1 Npower Programme is only four months down from the deadline.

The 1 year Npower Programme its first Payment commenced in September 2021, would have its last Stipend payment in August 2022.

By accurate record, August 2022 will mark the end of the Batch C Stream 1 Npower Programme and the beginning of processes for enrolling the beneficiaries into the CBN AGSMEIS/NEXIT (NEXIT) Loan Programme, where the exited Npower beneficiaries can take up loan amounts between N250,000 – N3million to embark on a life-changing entrepreneurship journey.

Have you been saving from your N30,000 monthly Stipend? How much have you been able to save? What are your challenges? Let us know in this post’s comment section below to improve the government’s decision making.

Note: The Npower Batch C Stream 2 of about 490,000 Npower beneficiaries is yet to commence the one year Npower Programme.

Originally published by Myinfoclock