Nigerian Newssphere, in this report, separates facts from fiction surrounding President Bola Ahmed Tinubu’s N50,000 cash support programme under the National Emergency Relief and Stabilisation Intervention, NERSI.
First, the N50,000 financial support is exclusively targeted at vulnerable Nigerians.
Secondly, the Federal Government has approved five digital banks and fintech platforms, with designated USSD codes, to facilitate the disbursement of the intervention funds.
Importantly, the Federal Government has warned Nigerians against falling victim to fraudsters seeking to exploit the initiative to defraud unsuspecting members of the public.
The five approved payment platforms are Moniepoint, ALAT, OPay, NairaGram and MoMo.
Approved payment platforms and their USSD codes
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 apply for the N50,000 cash support
According to the programme’s guidelines, selected beneficiaries will receive an SMS from one of the five approved payment providers notifying them of their selection.
Recipients are required to reply YES to the message to indicate 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 created. The N50,000 cash support will subsequently be credited to the wallet.
Beneficiaries can access the funds by withdrawing through point-of-sale, POS, agents or at banks. Alternatively, they can use the money to make payments directly from their mobile wallets.
