From John Silas, Lagos
Moniepoint Microfinance Bank has announced that eligible customers can now check their status and access the Federal Government’s ₦50,000 National Emergency Relief and Stabilisation Intervention (NERSI) through its USSD channel.
The initiative, led by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, is designed to provide direct financial assistance to vulnerable Nigerian households to help them meet essential needs and cushion the effects of prevailing economic pressures.
As one of the payment providers selected by the Federal Government to facilitate the disbursement of NERSI funds, Moniepoint MFB is leveraging its digital banking infrastructure to provide beneficiaries with an accessible channel to receive the support.
According to the bank, customers can check their eligibility by dialling 557327# from their registered phone numbers and selecting the option to check their status.
Customers confirmed as beneficiaries will be guided through the steps to accept the support and receive the funds directly into their Moniepoint accounts at no cost.
The bank explained that beneficiary selection is based on the Federal Government’s established eligibility criteria and verification processes, which draw on verified national identity records and the National Social Register to identify vulnerable households.
It added that the programme is being implemented in phases across the country, meaning not all customers may qualify or be selected at the same time. Access to the relief funds is therefore subject to government verification and selection.
Commenting on the initiative, the Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, said the bank was pleased to facilitate the disbursement of the relief support to eligible customers.
“We are pleased to enable our eligible customers to receive this relief support from the Federal Government’s NERSI initiative.
“At Moniepoint, we recognise its importance and are happy to contribute our technology and infrastructure to make the process seamless and secure in line with our avowed commitment to creating financial happiness for every Nigerian,” he said.
