Moniepoint Releases USSD Code for Nigerians to Get FG’s N50,000 Grant
- Eligible Moniepoint customers can check their status for the Federal Government’s ₦50,000 relief grant by dialling 557327#
- Government verification and National Social Register records determine eligibility; dialling the code does not guarantee payment
- Moniepoint warns Nigerians to avoid fraudsters and use only official channels for grant information and assistance
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Moniepoint Microfinance Bank has unveiled a dedicated USSD code that allows Nigerians to check their eligibility and receive the Federal Government’s ₦50,000 relief grant without visiting a bank or completing additional paperwork.
The bank announced that eligible customers can now access the National Emergency Relief and Stabilisation Intervention (NERSI) through its USSD banking platform, providing another channel for distributing financial assistance to vulnerable households.
Source: UGC
The initiative, coordinated by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, is designed to help struggling families meet essential expenses amid rising living costs and economic pressures.
Under the programme, selected beneficiaries will receive ₦50,000 in direct financial support, subject to government verification and eligibility requirements.
Moniepoint announces code for grant eligibility
According to Moniepoint in a blog post, customers can check whether they qualify for the financial assistance by dialling *5573*27# using the phone number registered with their Moniepoint account.
The bank explained that customers should follow the prompts and select the option to check their eligibility status, The Guardian reported.
Those confirmed as beneficiaries will receive further instructions on accepting the payment and having the money credited directly to their Moniepoint accounts.
Importantly, the process is free, with no additional charges or documentation required.
However, Moniepoint clarified that dialling the code does not automatically guarantee access to the ₦50,000 grant.
FG explains who qualifies for payments
Beneficiary selection is determined by the Federal Government using established eligibility criteria and verification procedures.
The process relies on verified national identity information and records contained in the National Social Register, which identifies vulnerable individuals and households requiring government assistance.
Consequently, not every Moniepoint customer will qualify for the intervention.
The bank also explained that disbursements are being implemented in phases, meaning eligible Nigerians may receive confirmation at different times.
Customers who are not selected immediately may therefore need to await further government verification.
Moniepoint warns Nigerians against grant fraud
Speaking on the development, Moniepoint Microfinance Bank Managing Director, Babatunde Olofin, said the institution was supporting the government by providing secure infrastructure for distributing the relief funds.
He explained that the partnership would make it easier for eligible Nigerians to access financial assistance through existing banking channels.
Olofin also warned customers against fraudsters who might exploit the programme to demand payments or sensitive banking information.
He stressed that beneficiaries should use only the bank's official USSD channel and avoid third-party agents promising guaranteed access.
Customers requiring assistance can contact Moniepoint's customer service team or the official NERSI helpdesk on 0700 022 2222.
Bank expands nationwide financial assistance network
Moniepoint's involvement builds on its participation in government-backed financial inclusion and social intervention programmes.
The bank said it previously supported subsidised food distribution benefiting more than 800,000 Nigerians and facilitated ₦3 billion in empowerment payments to 2,400 vulnerable citizens.
Source: Getty Images
With its banking infrastructure and POS network extending across Nigeria's 774 local government areas, Moniepoint expects to support wider access to the NERSI intervention.
For Nigerians seeking the ₦50,000 assistance, however, the crucial requirement remains government approval.
The grant is not available to every account holder, and only verified beneficiaries can receive payment.
FG begins N75,000 cash transfer to Nigerians
Legit.ng earlier reported that some vulnerable Nigerian households have reportedly begun receiving ₦25,000 payment alerts under the Federal Government’s Household Prosperity and Empowerment (HoPE) Cash Transfer Programme, raising hopes of financial relief amid rising living costs.
The development suggests that disbursements may have commenced for selected beneficiaries, although authorities have yet to confirm the extent of payments nationwide.
Source: Legit.ng
