MoMo Payment Service Bank (MoMo PSB) is supporting the Federal Government’s National Emergency Relief and Stabilisation Intervention (NERSI) by offering a safe and handy digital fee channel for the disbursement of ₦50,000 month-to-month reduction funds to eligible weak Nigerians.
The Federal Government initiative, coordinated by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, is designed to present focused monetary assist to households dealing with financial challenges arising from rising residing prices.
Through the intervention, qualifying beneficiaries will obtain direct monetary help aimed toward bettering family resilience and assembly important wants.
As a licensed fee service supplier, MoMo PSB is leveraging its digital infrastructure to assist guarantee reduction funds attain beneficiaries effectively, securely and conveniently, no matter their location.
Commenting on MoMo PSB’s position within the disbursement course of, Bode Abifarin, Chief Executive Officer, MoMo PSB, mentioned: “Our role in this initiative is to provide a reliable and accessible payment channel through which eligible beneficiaries can receive their relief funds. Our digital payment infrastructure will make it easier for beneficiaries to access their payments conveniently and securely.”
Beneficiaries chosen beneath the programme might be contacted via authorized channels and guided via a simple onboarding course of.
Individuals receiving their funds via MoMo PSB might be required to present consent by dialling 6710#, after which they will create a MoMo account by way of the MoMo PSB NG App or by dialling *671# on their MTN traces.
Once the method is accomplished, beneficiaries can seamlessly entry and handle their funds via their MoMo accounts. Beneficiaries are additionally inspired to rely solely on official communications concerning the intervention.
The Federal Government has reiterated that individuals aren’t required to pay charges or interact third events to entry the assist.
Beneficiaries also needs to keep away from sharing private safety particulars reminiscent of their PIN, BVN or account credentials with anybody claiming to facilitate funds.
Through its participation within the NERSI programme, MoMo PSB helps to increase entry to digital monetary companies whereas supporting the Federal Government’s efforts to ship well timed reduction to weak Nigerians.
The initiative additional demonstrates the position of technology-enabled monetary companies in advancing inclusion and connecting extra Nigerians to alternatives that enhance their high quality of life.
