Moniepoint Introduces USSD for ₦50,000 NERSI Aid Distribution

Moniepoint Microfinance Bank has introduced a USSD service that enables its customers to check if they qualify for the Federal Government's ₦50,000 National Emergency Relief and Stabilisation Intervention (NERSI). The bank announced this new channel on November 4, as one of the payment providers participating in the programme. Customers can dial *5573*27# from their registered phone number and select the eligibility-check option to determine if they are eligible for the aid.

The NERSI programme, overseen by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, aims to provide financial assistance to vulnerable households facing rising living expenses. The government determines who receives support through verification processes drawing on the National Social Register and national identity records. Beneficiaries are selected in phases, with different groups receiving notifications at different times. The ministry announced the commencement of NERSI on October 30.

Moniepoint's Managing Director and Chief Executive Officer, Babatunde Olofin, stated that the bank is pleased to enable its eligible customers to receive relief support from the Federal Government's NERSI initiative. He emphasized that the bank's technology and infrastructure will make the process seamless and secure, in line with its commitment to creating financial happiness for every Nigerian. Olofin also urged customers to remain vigilant and use only the official USSD code when checking their eligibility or accessing the funds.

The USSD service works on basic mobile phones without an internet connection, and customers can follow the prompts to accept the grant and receive it in their accounts. The bank's guidance confirms that receipt of the grant attracts no charge, while a point-of-sale agent may apply the usual withdrawal fee when a beneficiary collects cash. The assistance is a grant that beneficiaries do not have to repay.

Moniepoint has experience in administering payments for public-sector partners, including facilitating subsidised food distribution to over 800,000 beneficiaries and supporting revenue collection for national fertiliser programmes. The bank also reported disbursing ₦3 billion to 2,400 vulnerable people through an Ultra-Poor Graduation Programme. For NERSI, Moniepoint will use its banking infrastructure and network of POS terminals, which spans Nigeria's 774 local government areas.

The bank's guidance distinguishes receipt of the grant from subsequent cash withdrawals, and customers can contact the bank's customer service team or the official NERSI helpdesk with questions about the process. Moniepoint cited its participation in earlier public programmes involving the Federal Ministry of Agriculture, the Office of the National Security Adviser, and the Kaduna State Government.

The NERSI programme provides financial assistance to vulnerable households, and Moniepoint's USSD service aims to make it easier for eligible customers to access the aid. The bank's participation in the programme is a significant development in the government's efforts to provide relief to those affected by rising living expenses.

Key points

• Moniepoint Microfinance Bank customers can now use USSD to check eligibility and receive ₦50,000 NERSI aid.
• The NERSI programme aims to provide financial assistance to vulnerable households facing rising living expenses.
• Moniepoint's USSD service works on basic mobile phones without an internet connection.