Federal Government’s N50,000 Monthly Grant: How to Accept Payment
- The Federal Ministry of Humanitarian Affairs explained that NERSI beneficiaries must give their consent before the N50,000 is credited to their mobile wallets
- Five approved payment providers are involved in the disbursement, each with a specific USSD code beneficiaries must dial to accept the money
- The Federal Government warned Nigerians to watch out for fraudsters trying to exploit the cash transfer programme
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Legit.ng journalist Ridwan Adeola Yusuf has over eight years of experience covering metro, government policy, and international issues.
FCT, Abuja - Nigerians selected to receive the Federal Government's N50,000 National Emergency Relief and Stabilisation Intervention (NERSI) fund must actively accept the payment before any money is credited to their mobile wallets.
Legit.ng reports that the Federal Ministry of Humanitarian Affairs and Poverty Reduction clarified that no disbursement takes place until a beneficiary gives consent. According to the programme's official website, the process begins when a beneficiary receives an SMS from one of five approved payment providers.
Source: Getty Images
How to Accept the NERSI Payment
Once a beneficiary receives the SMS notification, they should confirm that the message is from a recognised NERSI payment provider, then dial the USSD code included in the message using the phone number linked to their details. After following the on-screen instructions and selecting YES to confirm consent, the provider will open a mobile wallet and credit the full N50,000. A confirmation SMS will follow once the transfer is complete.
The five approved payment providers and their USSD codes are:
1. ALAT by Wema Bank: Dial *945*23#
2. MoMo PSB: Dial *671*0#
3. NairaGram: Dial *726*00#
4. OPay: Dial *955*20# or use the official app
5. Moniepoint: Dial *5573*27# or use the official app
Beneficiaries are advised to follow the specific instructions and code contained in their own SMS notification, as these may differ slightly.
The N50,000 is not a loan, so recipients are not required to pay the money back. The full amount is credited without deductions, though a POS agent may charge the standard withdrawal fee if a beneficiary chooses to cash out. The money can also be transferred to a bank account or spent directly from the mobile wallet.
Source: Getty Images
NERSI: Warning against fraud
Federal authorities cautioned Nigerians to stay alert to fraudsters who may try to take advantage of the programme. Genuine notifications will only come from one of the five listed providers.
Beneficiaries are urged never to pay anyone to receive the fund, not to share their PIN, one-time password (OTP), or banking password with anyone, and to avoid clicking suspicious links claiming to offer access to the funds. Anyone who demands a fee to add a beneficiary to the payment list should be ignored.
Beneficiaries who receive suspicious messages or calls should contact their payment provider or reach the NERSI helpline on 0700-022-2222.
Further details on eligibility, the payment process, and frequently asked questions are available on the programme's official website at fmhapr.gov.ng/nersi.
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Hope as BOI launches loans
In related development, Legit.ng reported that the Bank of Industry (BOI) launched the Guaranteed Loans for Women (GLOW) fund, a N10 billion initiative designed to support women-owned and women-led businesses across Nigeria.
The President Bola Ahmed Tinubu-led federal government says it hopes to empower more women-owned businesses to create jobs and strengthen their participation in the Nigerian economy.
Authorities explained that GLOW was designed to provide concessionary financing at an interest rate of seven per cent, flexible collateral requirements and capacity-building support. These measures, they noted, were intended to address gender-based financing gaps in the Micro, Small and Medium Enterprises (MSME) sector.
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Source: Legit.ng
