It is mustahab to slaughter animal on the seventh day of the childbirth with the intention of aqiqah. Aqiqah will not be valid if the money is given in charity or spent in the marriage of any poor girl. Yes, if the animal is slaughtered with the intention of aqiqah and its meat is consumed in the marriage or its meat is gifted to the girl’s guardian. Aqiqah shall be performed by slaughtering only; it is not enough to give money to poor with the intention of aqiqah though one shall get the reward of giving money in charity.
Allah (Subhana Wa Ta’ala) knows Best
Darul Uloom Deoband