FG’s ₦50,000 relief: How Nigerians can withdraw money through POS agents, banks

Nigerians selected for the Federal Government’s ₦50,000 relief programme can withdraw their money through Point-of-Sale (POS) agents, transfer it to bank accounts or spend directly from their mobile wallets, according to guidelines released by the government.

The Federal Ministry of Humanitarian Affairs and Poverty Reduction explained that beneficiaries of the National Emergency Relief and Stabilisation Intervention (NERSI) are not required to visit government offices or depend on intermediaries to collect their financial assistance.

Instead, the money is credited directly to mobile wallets operated by approved financial service providers.

The ministry said selected beneficiaries must first accept the payment through their designated providers before the funds can be released.

Once the money has been credited, recipients can decide whether to withdraw the entire ₦50,000 or retain part of it for future transactions.

However, the government has warned that while receiving the grant is free, POS agents may charge their usual withdrawal fees.

According to the ministry, one of the simplest ways to access the money is through an authorised POS agent.

After receiving confirmation that the grant has been credited, beneficiaries can visit a POS operator who accepts transfers from their payment provider.

The recipient will then use the designated USSD code or official mobile application to transfer the desired amount to the agent’s account.

Once the transaction is confirmed, the POS operator can provide the equivalent amount in cash, subject to applicable service charges.

For example, a beneficiary who wants to withdraw ₦20,000 can transfer that amount to the agent and receive cash after accounting for the agreed withdrawal fee.

The ministry advised recipients to confirm transaction charges before proceeding.

Beneficiaries should also verify the recipient’s account details and ensure that the transaction has been completed successfully before leaving the agent’s location.

The government warned that no POS agent is authorised to demand a special NERSI processing fee before releasing the grant.

The ministry provided specific instructions for beneficiaries assigned to ALAT by Wema Bank.

According to the official programme portal, ALAT users can transfer funds by dialling the designated USSD sequence from their registered phone numbers.

The beneficiary must replace the account number and amount fields with the appropriate transaction details.

The service can be used to send money to a POS agent’s account or the beneficiary’s personal bank account.

ALAT beneficiaries may also visit Wema Bank branches for assistance with accessing their funds.

However, they should ensure that they are using official banking channels and avoid disclosing sensitive account credentials to unauthorised individuals.

Nigerians assigned to OPay and Moniepoint can also access their relief payments through designated USSD services or official mobile applications.

For OPay, the Federal Government lists *955*20# as the relevant NERSI service code.

Moniepoint beneficiaries can use *5573*27#.

According to the ministry, recipients can use these channels to transfer money to POS agents or conventional bank accounts.

Beneficiaries who already use the providers’ mobile applications may also access available transfer services through those platforms.

However, opening an OPay or Moniepoint account does not automatically qualify someone for the grant.

Only Nigerians selected through the government’s eligibility process are entitled to receive the financial assistance.

The government has also outlined withdrawal procedures for beneficiaries assigned to MoMo Payment Service Bank and NairaGram.

MoMo PSB recipients can dial *671*0# or use the MoMo NG application to transfer funds.

They may also visit authorised MoMo agents or POS operators.

NairaGram beneficiaries can dial *726*00# and follow the instructions for transferring money to a POS agent or bank account.

The ministry explained that these services are designed to allow recipients to access the grant without necessarily owning smartphones.

Individuals using basic mobile phones can complete supported transactions through USSD services.

The Federal Government has clarified that beneficiaries are not required to withdraw the entire grant at once.

Recipients can withdraw part of the money and leave the remaining balance in their mobile wallets.

For instance, a beneficiary may decide to withdraw ₦15,000 for immediate household expenses and retain ₦35,000 for subsequent transactions.

The ministry also confirmed that beneficiaries can transfer money to other bank accounts through their payment providers.

However, recipients should remain mindful of applicable transaction fees and protect their wallet security credentials.

The government warned that beneficiaries should never disclose their PINs or one-time passwords to POS operators, agents or individuals offering assistance.

The ministry explained that selected beneficiaries will receive SMS notifications confirming when their wallets have been credited.

Individuals who have accepted the grant but have not received payment confirmation should contact their designated financial service providers.

The government also advised beneficiaries experiencing failed transactions or difficulties accessing their wallets to use official customer support channels.

For general enquiries about the programme, Nigerians can contact the NERSI helpline on 0700-022-2222.

Further information is available on the official NERSI portal.

The ministry maintains that the ₦50,000 is a grant, not a loan, and beneficiaries are not required to repay the money.