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FG earmarks N15bn to finance Safe Schools initiative

by Admin
January 21, 2026
in Finance

By Cynthia Ezekwe.

The federal government said it has budgeted the sum of N15 billion to fund the implementation of the Safe Schools initiative to enable children affected by conflicts and insecurity to continue with their education without any hindrance.

Halima Iliya Ibrahim, the national coordinator, financing Safe Schools in Nigeria, disclosed this at a press conference held recently in Abuja, noting that the initiative would strengthen the detection, deterrence and response capabilities of the security agencies, as well as equipping the school security, response and coordination centres across the states in Nigeria.
Ibrahim explained that the national plan on financing safe schools was developed and launched in December, 2022, adding that the national plan will be implemented between 2023 -2026, with a total investment size of N144. 8 billion.

“The plan proposes N32.58 in 2023, N36.98 billion in 2024, N37. 15 billion in 2025 and N38.03 billion in 2026 respectively. To this end, the federal government has made a provision of N15 billion in 2023,’’ she added.
The national coordinator noted that FG plans to fund the initiative, through annual budgetary provisions from federal, state, and local governments, government interventionists, agencies, foreign and multilateral institutions, businesses and philanthropists, as well as donor agencies.

According to the implementation strategy,the plan aims at covering 50 per cent of the Most-at-Risk schools across the country over a medium term 2023-2026 through building and integrating security resilient host communities in the protection of education.
Ibrahim further pointed out that a key milestone in the plan implementation was the flag-off of the national school security and coordination centre by the Nigerian Security and Civil Defence Corps (NSCDC).
She added that ensuring safe schools for all Nigerian children was a responsibility for all good-spirited Nigerians, urging everyone to work with the federal government to make the initiative a success.

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Onafriq, a pan-African payments company, is set to discontinue its Baxi agent banking business in Nigeria after five years, citing naira depreciation, rising operating costs and intensifying competition that have weakened the segment’s profitability. The planned shutdown will affect the agent banking operations conducted through Baxi under Onafriq Nigeria Payments Limited. However, the decision does not signal the company’s withdrawal from Nigeria, as it intends to retain its cross-border payments network and card issuing services in the country. In a statement, Onafriq said changes in Nigeria’s operating environment since 2024 had significantly altered the economics of its offline agent banking business, making the existing model unsustainable. The move marks a strategic shift for the company, which entered Nigeria’s agent banking market to expand access to financial services through a network of agents providing transaction services outside traditional bank branches. Onafriq attributed the decision to a combination of macroeconomic pressures and structural changes in the country’s payments industry. According to the company, naira depreciation and inflation have affected transaction volumes, increased operating expenses and undermined the sustainability of its agent banking operations. The growing adoption of instant account-to-account transfers has also changed the mix of transactions handled by agents, while heightened competition among payment service providers has put further pressure on margins. These developments have made it increasingly difficult for the business to remain viable under its existing operating structure, prompting the company to reassess its long-term strategy. Dare Okoudjou, founder and chief executive officer of Onafriq, said the decision to close the business was difficult, particularly given the efforts of employees, agents and business partners who helped build the Baxi network. “We entered Nigeria with conviction and commitment, but did not achieve the outcome we set out for. Closing this business was a difficult decision to arrive at, one that affects colleagues, agents, and business partners across Nigeria who poured their hearts and soul into building out the Baxi network,” Okoudjou said. Despite the closure, he reaffirmed the company’s commitment to the Nigerian market, noting that the group would continue to serve customers through its payments network and card issuing operations. Onafriq entered Nigeria’s agent banking market in 2021 through the acquisition of Baxi, also known as Capricorn Digital Limited. The company said it continued investing in the business through 2023, with efforts focused on expanding and strengthening its agent network. However, a subsequent review of the business’s long-term prospects and financial sustainability led to the decision to wind down the operation. As part of the transition, Onafriq said agents onboarded through the Baxi platform had been moved to another principal bank, a step intended to facilitate continuity for the affected agents. The company has also directed agents to transfer their funds to their preferred principal bank within 30 days, adding that its teams would provide support throughout the transition process. Employees whose roles are linked to the agent banking business will also be consulted and supported during the wind-down, with Onafriq pledging to treat affected workers fairly.

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