FG publishes list of 5 digital banks approved to disburse N50k monthly to Nigerians

The Federal Government has named five digital financial service providers to deliver its N50,000 monthly cash relief to vulnerable Nigerians, Legit.ng reports.

The payments fall under the National Emergency Relief and Stabilisation Intervention (NERSI), designed to cushion rising food and living costs.

The approved providers and their USSD codes are:

• ALAT by Wema: 94523#
• MoMo PSB: 6710#
• NairaGram: 72600#
• OPay: 95520#
• Moniepoint: 557327#

Humanitarian Affairs Minister Dr Bernard Doro, who announced the payments on October 30, said:

“Beneficiaries will be notified by SMS from an approved service provider to confirm their consent before the funds are transferred directly to their bank accounts or mobile wallets.”

The government said beneficiaries do not need to apply, pay registration fees or use agents.

Doro warned Nigerians against fraudsters and advised them not to disclose their PINs or Bank Verification Numbers (BVNs) to anyone.

Anyone unsure about a payment notification or asked to pay money should contact the official NERSI helpline on 0700-022-2222.