Good News as FG Begins N50,000 Monthly Cash Payments to Nigerians, Explains Selection Process
- The federal government launched the National Emergency Relief and Stabilisation Intervention to support vulnerable households
- Minister Bernard Doro said payments of N50,000 monthly will go directly into the bank accounts or mobile wallets of selected beneficiaries
- The government warned Nigerians that NERSI requires no application, agent registration or payment of fees to qualify
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The federal government has rolled out a monthly cash relief scheme that will pay N50,000 directly to vulnerable households across Nigeria, as part of efforts to cushion the effects of rising prices on low-income families.
The Minister of Humanitarian Affairs and Poverty Reduction, Bernard Doro, announced the scheme in a statement issued on Friday in Abuja.
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He said the National Emergency Relief and Stabilisation Intervention (NERSI) is a presidential initiative designed to deliver immediate financial support to millions of Nigerians who have struggled under the weight of global food inflation and surging prices of essential goods.
Doro said:
"Under this intervention, eligible beneficiaries will receive N50,000 monthly, providing direct assistance to help meet essential needs and ease the burden of living costs."
How NERSI payments will work
The ministry is partnering with licensed digital financial service providers to process transfers securely and on schedule.
Doro said beneficiaries will receive a text message from these providers asking for their consent before money is moved into their bank accounts or mobile wallets, NAN reports
He added that the government would review the N50,000 figure from time to time to keep pace with changes in the cost of living, and that beneficiaries would be notified before any adjustment takes effect.
Crucially, Doro said no Nigerian needs to apply, pay a fee or go through any agent to receive the benefit.
He urged residents to be on guard against fraudsters who may try to take advantage of the programme.
The minister said:
"If you are unsure about any message, or anyone asks you for money, call the official NERSI helpline on 0700-022-2222."
He also warned beneficiaries not to share their Personal Identification Numbers (PINs) or Bank Verification Numbers (BVNs) with anyone.
NERSI and the Renewed Hope Agenda
Doro positioned NERSI as a complement to existing federal social protection schemes rather than a replacement, Premium Times reports.
He said the programme is intended to strengthen the financial resilience of vulnerable households while contributing to broader economic stability.
Source: Facebook
The minister linked the initiative directly to President Bola Tinubu's Renewed Hope Agenda and pledged that the ministry would run the programme with transparency, accountability and respect for those it serves.
The statement did not specify the eligibility criteria for selection, the total number of households expected to benefit or the exact date when the first batch of transfers would be completed.
FG opens portal; Nigerians can borrow up to N300,000
Earlier, Legit.ng reported that the Nigerian government is set to empower market women, small-scale traders, and artisans with access to zero-interest loans of up to N100,000 through its upcoming programmes, MarketMoni and TraderMoni.
MarketMoni will provide market women with interest-free loans to grow working capital, restock inventory, and expand their businesses.
Beneficiaries will enjoy zero collateral, a 3-month moratorium before repayment, and nationwide coverage across all six geopolitical zones.
Source: Legit.ng
