Moniepoint Explains How FG Selects Phone Numbers for N50,000 Monthly Cash Support
- The federal government selects NERSI beneficiaries from the National Social Register and verified national identity records
- Moniepoint confirmed there is no application process, with payments going out in batches across Nigeria's six geopolitical zones
- Selected Nigerians receive an SMS with a USSD code to accept the N50,000 payment without a smartphone or internet connection
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Moniepoint has clarified how the federal government obtains the phone numbers of Nigerians chosen to receive the N50,000 monthly cash support under the National Economic Recovery and Support Initiative (NERSI), as payment notifications begin reaching beneficiaries.
Source: Getty Images
According to the programme's guidelines, the government draws its list of beneficiaries from the National Social Register and verified national identity records.
Phone numbers linked to those records are then used to send SMS notifications to successful individuals, without any need for recipients to submit a separate application.
No application or registration needed
The programme made clear that Nigerians cannot apply or register to be considered. Selection happens entirely through existing government databases, and neither agents nor third parties have any authority to add names to the list.
Payments are going out in phases across Nigeria's six geopolitical zones, which means anyone who has not yet received a message may still qualify under a later batch.
Official notifications are being sent by participating payment providers, including ALAT by Wema Bank, MoMo PSB and NairaGram. Each SMS contains the instructions and the USSD code a beneficiary needs to claim the funds.
How beneficiaries can collect their N50,000
Once a notification arrives, the recipient must dial the USSD code from the same phone number that received the message and follow the on-screen prompts to accept the payment.
After completing the steps, a mobile wallet is created, and N50,000 is credited to it, followed by a confirmation SMS.
Source: Getty Images
Importantly, the process works on basic mobile phones and does not require a smartphone, mobile data or an internet connection, making it accessible to Nigerians in areas with limited connectivity.
The programme also addressed two common concerns. Beneficiaries who accidentally delete their notification SMS can check their eligibility by dialling their payment provider's USSD code and selecting the eligibility-check option.
Those who mistakenly press "No" when asked to accept the payment can simply dial the code again and select "Yes" to continue.
CBN introduces new framework for resolving loan disputes
Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) had proposed setting up a 30-member Mediation and Dispute Resolution Panel (MDRP) to address disagreements between financial institutions and their customers.
The proposal, contained in an exposure draft, is designed to strengthen consumer protection and build public trust in the country's financial system.
In a circular signed by Paul Oluikpe, acting director of the CBN's Development Finance Advisory Department, the apex bank said the proposed framework forms part of efforts to improve the financial sector, promote compliance with relevant laws and make financial services more efficient.
Source: Legit.ng
