Moniepoint enables USSD access for Nigeria's N50,000 relief fund

Moniepoint Microfinance Bank has integrated the Federal Government’s N50,000 National Emergency Relief and Stabilisation Intervention (NERSI) into its USSD banking channel. This allows customers to check their eligibility and receive funds without requiring internet access or smartphones.

To verify eligibility, customers are instructed to dial 557327# from their registered phone numbers and select the relevant option under the NERSI program. The scheme, coordinated by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, targets vulnerable households struggling with rising living costs. Beneficiaries are selected via national identity records and the National Social Register.

Payments are being disbursed in phases. Once eligibility is confirmed, beneficiaries will be guided on how to accept the support, after which funds will be credited to their accounts free of charge. Moniepoint Managing Director Babatunde Olofin stated the bank is using its technology to ensure the process remains easy and secure.