Moniepoint Bank Launches N50,000 Relief Support Check

Moniepoint Microfinance Bank has announced that its customers can check their eligibility for the Federal Government's N50,000 National Emergency Relief and Stabilisation Intervention (NERSI) through its USSD banking channel by dialing *5573*27#. This initiative, led by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, aims to provide financial assistance to vulnerable households facing economic challenges.

Eligible customers will receive guidance on accepting the support and accessing the funds directly into their Moniepoint accounts, with no additional costs or documentation required. However, eligibility is determined by the Federal Government based on established verification processes using national identity records and the National Social Register.

The program is being rolled out in phases, meaning not all customers will qualify simultaneously. Babatunde Olofin, Managing Director and CEO of Moniepoint Microfinance Bank, expressed the bank's commitment to supporting the government's efforts in delivering financial assistance to eligible households.