FG explains how NERSI selects N50,000 monthly cash beneficiaries

The federal government is sending N50,000 monthly cash support under the National Economic Recovery and Support Initiative (NERSI) to selected Nigerians without an application process. Moniepoint confirmed there is no application process and clarified that beneficiaries are picked from the National Social Register and verified national identity records.

Phone numbers linked to those records are used to send SMS notifications to successful individuals. The programme says Nigerians cannot apply or register to be considered. Selection happens entirely through existing government databases. Neither agents nor third parties have authority to add names to the list.

Payments go out in batches

Payments are going out in phases across Nigeria's six geopolitical zones. Anyone who has not yet received a message may still qualify in a subsequent batch.

Official notifications are sent by participating payment providers, including ALAT by Wema Bank, MoMo PSB and NairaGram. Each SMS contains instructions and the USSD code a beneficiary needs to claim the funds.

How to accept the N50,000

Once a notification arrives, the recipient must dial the USSD code from the same phone number that received the message and follow the on-screen prompts to accept the payment. After completing the steps, a mobile wallet is created. N50,000 is credited to it, followed by a confirmation SMS.

The process works on basic mobile phones. It does not require a smartphone, mobile data or an internet connection. That makes it accessible to Nigerians in areas with limited connectivity.

What beneficiaries should know

Beneficiaries who accidentally delete their notification SMS can check eligibility by dialling their payment provider's USSD code and selecting the eligibility-check option. Those who mistakenly press No when asked to accept the payment can dial the code again and select Yes to continue.

Separately, the Central Bank of Nigeria has proposed a 30-member Mediation and Dispute Resolution Panel (MDRP) to address disagreements between financial institutions and their customers. The proposal, contained in an exposure draft, is designed to strengthen consumer protection and build public trust in the financial system. In a circular signed by Paul Oluikpe, acting director of the CBN's Development Finance Advisory Department, the apex bank said the framework forms part of efforts to improve the financial sector, promote compliance with relevant laws and make financial services more efficient.

For beneficiaries, the NERSI payment offers direct cash support through basic phones. For payment providers, the batch rollout puts pressure on customer support and USSD channels as more recipients check eligibility and claim funds.