Mercy Corps has partnered with Y'ello Digital Financial Services, a subsidiary of MTN Nigeria, to deliver automated cash transfers to 14,270 households in Damaturu and Potiskum LGAs in Yobe State.
Through its Building Resilience in Complex Crisis (BRICC) funded by the European Union, (EU), the Programme Director of BRICC, Dez Byamukama stated that it was to provide an avenue for programme participants with or without bank accounts to receive funds.
"Of the participants that will be given cash transfers, 1,570 youths will receive funds to help them start a business after undergoing vocational training like automobile repairs, agribusiness, fashion designing, food business, and phone repairs, among others," said Byamukama during the signing ceremony in Abuja.
The Country Director of Mercy Corps, Ndubuisi Anyawu, said the partnership was to ensure the financial inclusion of victims of the conflict in Northeast in a safe and dignified way.
The CEO, Y'ello Digital Financial Services, Usoro Usoro, said his organisation is committed to ensuring that every Nigerian is able to seamlessly access financial services for their personal and business needs.
EU's Head of Cooperation, Tassin-Petzer Cecile, noted that the initiative is more efficient and effective than other forms of aid as it would provide beneficiaries with the means and flexibility to decide and prioritize their recovery.