FG Reveals 5 Digital Banks Nigerians Can Use To Receive N50K Cash Support

The Federal Government has identified five digital banking and mobile money platforms through which selected Nigerians will receive the N50,000 cash assistance under the National Emergency Relief and Stabilisation Intervention (NERSI).

According to a report by Vanguard on Thursday, November 5, 2026, the initiative is designed to provide financial support to poor and vulnerable households struggling with the increasing cost of living across the country.

Information published on the NERSI website indicates that beneficiaries will be able to access their grants through ALAT by Wema Bank, MoMo Payment Service Bank (PSB), NairaGram, OPay and Moniepoint.

The five financial platforms have been designated to facilitate the distribution of funds and make it easier for recipients to access their money through mobile wallets, USSD services and mobile applications.

The approved USSD codes and access channels include:

4. OPay: Dial 955 20# or use the mobile application.

5. Moniepoint: Dial 557327# or access the mobile application.

Under the programme, beneficiaries are selected using information from verified national identity records and the National Social Register, which contains details of households classified as poor and vulnerable.

The government explained that the selection process does not require members of the public to submit fresh applications or visit designated government offices to register for the financial assistance.

Individuals who are successfully selected will receive an official text message from one of the five approved financial service providers informing them about their eligibility for the intervention.

After receiving the notification, beneficiaries are expected to reply with the word “YES” to confirm their consent to participate in the disbursement process.

Following confirmation, a mobile wallet linked to the recipient’s registered phone number and National Identification Number (NIN) will be activated and credited with the N50,000 assistance.

Once the money becomes available, beneficiaries can withdraw their funds through authorised Point-of-Sale (POS) agents or banking channels. They can also use the money directly from their mobile wallets to pay for goods and services.

The Federal Government has emphasised that the NERSI intervention is completely free and that beneficiaries are not expected to pay registration charges, processing fees or any other form of payment before receiving their grants.

Authorities have also warned Nigerians against individuals claiming to have special connections within the programme and promising to secure financial assistance in exchange for money.

The government stressed that nobody has the authority to demand payment from applicants or beneficiaries in order to influence the selection process or facilitate the release of funds.

In addition, Nigerians have been advised to protect their financial information by refusing to disclose their bank PINs, passwords and one-time passwords (OTPs) to anyone.

The warning applies even to individuals claiming to be government representatives, financial agents or officials working with the approved payment platforms.

According to the programme’s guidelines, genuine notifications will only come through ALAT, MoMo, NairaGram, OPay or Moniepoint. Beneficiaries should therefore be suspicious of messages from unknown numbers requesting sensitive information or directing them to unfamiliar websites.

The authorities also clarified that legitimate payment instructions will require beneficiaries to confirm their participation by replying “YES” or following the relevant USSD instructions provided through the approved financial platforms.

Another important detail is that not every household that meets the general eligibility requirements will receive the money during the initial disbursement. Payments are expected to be made in batches, meaning some selected households may have to wait for subsequent phases.

The government further maintained that there is no alternative process through which individuals can purchase their way onto the beneficiary list.

The NERSI initiative forms part of the Federal Government’s Humanitarian Assistance Programme and its broader shock-responsive cash transfer strategy, which is being implemented through the Federal Ministry of Humanitarian Affairs and Poverty Reduction.

With the five approved financial platforms now identified, selected beneficiaries are expected to follow the official instructions to activate their wallets and access the N50,000 assistance.

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