Five Digital Banks for Nigerians to Access N50,000 Monthly Cash Support

The Federal Government has announced five digital banks and mobile money platforms that will help selected Nigerians receive N50,000 monthly cash support. This initiative is part of the National Emergency Relief and Stabilisation Intervention (NERSI).

Beneficiaries can access their funds through the following platforms: ALAT by Wema Bank, MoMo PSB, NairaGram, OPay, and Moniepoint. Each platform offers USSD codes and mobile applications for easy access to funds.

Once their wallets are credited, beneficiaries will receive an SMS from their chosen payment provider with instructions. The access codes for each platform are:

• ALAT (Wema Bank): Dial 94523#
• MoMo (MoMo PSB): Dial 6710#
• NairaGram (Mobile wallet): Dial 72600#
• OPay (Mobile money): Dial 95520# or use the OPay app
• Moniepoint (Microfinance bank): Dial 557327# or use the Moniepoint app

The cash support is aimed at poor and vulnerable households. Beneficiaries are chosen based on verified national identity records and the National Social Register. They will receive an SMS confirming their selection and must reply with ‘YES’ to participate.

The government has warned against fraud, stating that participation is free. Beneficiaries should not pay fees or visit government offices for assistance. They are also advised to keep their personal identification numbers and passwords private and only respond to messages from the official payment providers.

This cash transfer program is part of the government’s efforts to provide financial relief to households facing rising living costs.