Development banker and ministerial nominee from Ogun State, Olawale Edun, says the federal government will deploy biometric validation to transfer the N8,000 palliative to the identified vulnerable and low-income households to cushion the hardship of the removal of petroleum subsidies.
He explained that using biometric validation to make payments to vulnerable households will help the federal government reach all the identified beneficiaries.
Mr. Edun, who until his nomination was President Bola Tinubu’s special adviser on monetary matters, made this known when he appeared before the Senate on Tuesday for screening.
Former Senate President Ahmad Lawan asked him questions bordering on the distribution of palliatives when he appeared before the Senate for the screening of his ministerial appointment.
Mr. Lawan inquired how the nominee would supervise the distribution of N8,000 in palliative care to vulnerable households that do not have bank accounts if he were opportune to be finance minister.
The nominee responded by saying “every recipient of the N8,000 palliative should have a biomimetic validation, and without that, such a person will not benefit.”
Mr. Edun also gave an example of India, where he said that the government of India recommended digital banking for every household.
On the controversial $800 million World Bank loan, the Ogun nominee declined comment, saying he would prefer not to talk about the controversial loan.
“I would not like to talk about the 800 million USD World Bank loan, but It is better to find a way than throw a baby away with the bath water.”
The nominee also said that if he is opportune to serve as minister of finance, he will ensure that there is separation between the account of the Accountant General of the Federation and the account of the Federation.
“If given the opportunity, I’ll do my best. I think consistency is very important. In the days when I was in the public service at the sub-national level, under our president, I advocated that there should be separation between the accounts of the federation and the accountant-general of the government. I would like to retain that stand,” he said.