Mimiko in a statement on Tuesday noted that the decision would cushion the economic effect of coronavirus.
He further stated that BVN data with banks should be used to make the transfers.
The former Governor noted that the stay-at-home measure would affect up to 40 per cent of Nigeria’s adult population who earn their living on a daily basis.
Mimiko stated: “We are quick to complain of lack of data, but we have BVN. I’m told we have 40million BVN accounts.”
“Adopting a benchmark of the annual turnover of N360,000 and assuming that up to 50 per cent, i.e. 20million qualify for palliative, say N20,000 each, that will amount to just about N40billion”.
Mimiko who said the President’s recent address ‘should give added momentum to the combat against the killer virus”.
He counselled that Nigeria while trying to procure more of this life-saving gadget, should “start mobilizing massively for manual ventilators and start training paramedics who may be called to use them as instruments of last resort in an emergency.”
Mimiko further stated that local companies like Innoson Motors may face challenges trying to produce modern type mechanical ventilators.
“Simultaneously, we must start mobilizing our local capacity and start building oxygen plants for what may turn out to be an astronomical demand”
The former Governor stressed that social distancing is a major way to stop further spread of the virus.
He commended health workers and government agencies for their efforts at saving lives.