FG unveils five digital banks to receive N50,000 monthly cash support

The Federal Government has announced five digital banks and mobile money platforms through which eligible Nigerians can receive its ₦50,000 cash assistance under the National Emergency Relief and Stabilisation Intervention (NERSI).

According to details published on the NERSI website, beneficiaries can receive their payments through ALAT by Wema Bank, MoMo PSB, NairaGram, OPay and Moniepoint.

The approved platforms offer different options, including USSD codes and mobile applications, allowing beneficiaries to access their wallets, withdraw their funds or use the money for transactions.

The initiative is part of the Federal Government’s intervention to provide financial support to selected Nigerians facing economic challenges.

The government said beneficiaries would receive an SMS from their designated payment provider with instructions once their wallets had been credited.

The five platforms and their access codes are:

ALAT (Wema Bank): Dial 94523#.
MoMo (MoMo PSB): Dial 6710#.
NairaGram (Mobile wallet): Dial 72600#.
OPay (Mobile money): Dial 95520# or use the OPay application.
Moniepoint (Microfinance bank): Dial 557327# or use the Moniepoint application.

How to receive the N50,000 support

The NERSI website explained that the cash transfer is designed for poor and vulnerable Nigerian households, with beneficiaries selected through verified national identity records and the National Social Register.

According to the programme’s guidelines, selected beneficiaries will receive an SMS from one of the five approved payment providers informing them of their selection.

Recipients are required to reply YES to the message to give their consent to participate in the programme.

Following confirmation, a mobile wallet linked to the beneficiary’s phone number and National Identification Number (NIN) will be opened, after which the N50,000 support will be credited.

Beneficiaries can withdraw the money through a point-of-sale (POS) agent or at a bank, or spend directly from their mobile wallets.

FG warns Nigerians against fraud
The Federal Government stressed that participation in the programme is free and that beneficiaries are not required to pay any fee, register separately or visit government offices to secure the support.

The NERSI website warned Nigerians against fraudsters demanding money to facilitate selection or release of the funds.

It also advised beneficiaries not to disclose their personal identification numbers (PINs), one-time passwords (OTPs) or passwords to anyone, including agents and government officials.

According to the programme’s guidelines, genuine messages will only come from ALAT, MoMo, NairaGram, OPay or Moniepoint and will only require beneficiaries to reply YES or dial their payment provider’s designated USSD code.

The government further stated that not all eligible households would be included in the first batch of beneficiaries, adding that nobody could pay to secure a place on the list.

The Humanitarian Assistance Programme is the Federal Government’s shock-responsive cash transfer initiative, administered by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, to provide financial relief to poor and vulnerable households facing rising living costs.

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