FG TERMINATES CONTRACT OF TWO FIRMS OVER FUND DISBURSEMENT

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The Federal Government says it has terminated the contract of two Payment Service Providers (PSPs) for failure in disbursing cash to poor and vulnerable residents in four states.

The “Payment Service Providers” were contracted by the Federal Government to make payments to vulnerable persons in Bayelsa, Akwa Ibom, Abia and Zamfara States.

According to a statement signed on Tuesday for the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, the project was called off after a breach of the agreement by the contractors.

The Minister added that the Federal Government cannot accept delays in the current payment round of N20,000 stipends to beneficiaries in poor and vulnerable households under any excuses in the four states or any other states of the federation.

President Muhammadu Buhari in a live broadcast on Monday told the ministry to continue the disbursement of cash transfers and food distribution to vulnerable households as efforts to tackle the COVID-19 impact on the economy.