FG’s ₦50,000 Support: OPay, Moniepoint, MoMo, Other Platforms Handling Payment

The federal government has listed five approved digital financial service providers through which selected beneficiaries can receive its ₦50,000 cash support for vulnerable Nigerians.

The intervention, known as the National Emergency Relief and Stabilisation Intervention (NERSI), is designed to provide financial support to poor and vulnerable households across the country.

The approved platforms are OPay, Moniepoint, MoMo PSB, ALAT by Wema Bank and NairaGram.

According to the Federal Ministry of Humanitarian Affairs and Poverty Reduction, beneficiaries are identified through the National Social Register and verified national identity records.

Here are the five platforms involved in the payment process:

1. OPay

OPay is one of the approved providers for the programme. Selected beneficiaries can receive their payments through wallets linked to their registered phone numbers.

2. Moniepoint

Moniepoint is another approved provider responsible for facilitating payments to selected beneficiaries through its digital financial services.

3. MoMo PSB

MoMo Payment Service Bank is among the five providers selected to support the distribution of the government incentive.

4. ALAT by Wema Bank

ALAT, Wema Bank’s digital banking platform, is also listed as an approved payment channel for the intervention.

5. NairaGram

NairaGram completes the list of five approved digital financial service providers involved in delivering the cash support.

How beneficiaries can access the money

The government says selected beneficiaries will receive SMS notifications from their assigned payment providers.

They will be required to consent to receiving the intervention before the funds are credited to their mobile wallets.

Beneficiaries can subsequently access their funds through the available withdrawal, transfer and payment channels provided by their respective platforms.

However, beinga customer of any of the five platforms does not automatically qualify an individual for the ₦50,000 incentive.

Beneficiaries are selected through the government’s established social register and identity verification process.

The government has also warned Nigerians against paying registration or processing fees to anyone claiming to facilitate access to the programme.

The intervention is free, and there is no application process for individuals to purchase or secure a place on the beneficiary list.