National Cash Transfer Office denies ₦33.75bn fraud allegations

The National Cash Transfer Office (NCTO) has rejected allegations that ₦33.75 billion in electronic transfers failed to reach genuine beneficiaries. The dispute follows a report by the Auditor-General for the Federation regarding the 2023 financial year, which identified audit queries involving billions of naira.

The Auditor-General’s report noted that while ₦33.751 billion was transferred to 3,295,207 households across 35 states, auditors could not establish the legitimacy of all recipients. Specific concerns included incomplete beneficiary information on payment vouchers and the absence of REMITA statements required to reconcile payments with the National Social Register and National Beneficiary Register.

The NCTO maintains that these observations are not proof of theft, diversion, or loss of funds. The agency stated that payments were processed through established electronic systems and that beneficiary records are maintained digitally. Furthermore, the NCTO denied claims that officials obstructed auditors, asserting that documentary evidence, including emails, exists to prove that beneficiary and payment data were transmitted for verification.