MoMo Payment Service Bank (MoMo PSB) is backing the Federal Government's National Emergency Relief and Stabilisation Intervention (NERSI) by supplying a secure digital payment channel for the distribution of ₦50,000 monthly relief payments to qualifying vulnerable Nigerians.
The programme, coordinated by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, is intended to deliver targeted financial support to households facing economic pressure from rising living costs. Selected beneficiaries will receive direct financial assistance aimed at strengthening household resilience and helping them meet essential needs.
As a licensed payment service provider, MoMo PSB is using its digital infrastructure to ensure that relief payments reach recipients efficiently and securely, regardless of their location.
Commenting on the arrangement, Bode Abifarin, Chief Executive Officer of MoMo PSB, said the bank's role is to provide a reliable and accessible payment channel through which eligible beneficiaries can receive their relief funds. He added that the digital payment infrastructure would make it easier for recipients to access their payments conveniently and securely.
Beneficiaries selected under the programme will be contacted through approved channels and guided through a straightforward onboarding process. Individuals receiving payments through MoMo PSB will be required to provide consent by dialling *671*0#, after which they can create a MoMo account via the MoMo PSB NG App or by dialling *671# on their MTN lines.
Once the process is completed, beneficiaries can access and manage their funds through their MoMo accounts. They are also encouraged to rely only on official communications regarding the intervention.
The Federal Government has reiterated that participants are not required to pay fees or engage third parties to access the support. Beneficiaries should also avoid sharing personal security details such as their PIN, BVN or account credentials with anyone claiming to facilitate payments.
Through its participation in NERSI, MoMo PSB is helping to widen access to digital financial services while supporting the Federal Government's effort to deliver timely relief to vulnerable Nigerians. The initiative further demonstrates the role of technology-enabled financial services in deepening inclusion and connecting more Nigerians to opportunities that improve their quality of life.
