Is it permissible to distribute the monetary value of the sacrifices for the Aqiqah to the poor and needy instead of slaughtering?

It is not permissible to give the monetary value of the Aqiqah; because the slaughter is a religious requirement, and the Aqiqah is a confirmed Sunnah and a clear ritual. Slaughtering it is better than donating its price, unless Muslims are afflicted by a calamity or need money to fight their enemy, in which case it is permissible to donate its price.