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Home Business News

COVID-19 relief: Group of Techpreneurs use BVN to disburse funds to Nigerians

Ruth Okwumbu-Imafidon by Ruth Okwumbu-Imafidon
April 21, 2020
in Business News, Company News, Tech News
COVID-19 relief: Group of Techpreneurs use BVN to disburse funds to Nigerians
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A group of tech entrepreneurs, under the auspices of Better Angels, has commenced the disbursement of funds to vulnerable Nigerians using the unique Bank Verification Number (BVN).  

The disbursement, which started over the weekend, has seen hundreds of Nigerians take to their twitter handles to commend the innovation and thank them for the timely assistance.

we are so glad you were able to get it, please stay safe https://t.co/2fnP10yjia

— We are Together (@wearetogetherhq) April 20, 2020

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Enrolments for BVN in Nigeria hit 54.7 million in May 2022

The group of tech entrepreneurs and innovators are from Paystack, Hygeia HMO, Zedvance, Accounteer, Future Africa, Hotels.ng, Zrosk, and Bento, launched WeAreTogether, a crowdfunded COVID-19 relief fund, over the weekend. 

According to the note from the organisers on the website, the group leveraged its network to crowdsource fiscal stimulus for Nigerians.

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“We are tech entrepreneurs who cannot sit by and do nothing while the world falls apart,” the group said on its site, stressing that the fund will run till December 2020 and disburse funds to Nigerians every working day. On its website is a list of hundreds of Nigerians who have already benefited over the past few days.

(READ MORE: TechRoundUp Season 2 Episode 13)

According to a tweet on its handle @wearetogetherhq, the relief fund receives donations from all over the world and disburses all monies received on the same day.

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We give out donor funds everyday and what we have we give 100% of it out. We are working to see how to set a payment cap so that once we reach it, it closes the window and no new applications can come in which would lead to approvals without credit

— We are Together (@wearetogetherhq) April 20, 2020

READ ALSO: In partnership with CcHub, Facebook launches NG_Hub in Lagos – Its first hub space in Africa

How they operate

The BetterAngels simply require Nigerians to apply for the funds on their website, using their unique Bank Verification Numbers and their account numbers. With this information, the organisers decide if the individual falls under the category of vulnerable Nigerians and disburses the funds accordingly.

“We have a formula for determining who needs it the most and we disburse based on that formula. We are constantly tweaking it as realities change and we get more data.  

“You need a BVN and an account number to apply, decisions are made in seconds and disbursements in seconds. If deemed ineligible, please feel free to apply later, ” it said.

READ ALSO: Global market in panic mode, as American dollar remains king

Why this matters

Following several donations from individuals and corporate organisations to the CBN-led CACOVID relief fund, Nigerians had called for disbursement of funds using the Bank Verification number and account numbers, for a more transparent process.

(READ MORE: How five Nigerian tech-startups are tackling COVID-19 outbreak)

The launch of the WeareTogether fund has caught the attention of Nigerians in the diaspora who view it as a more veritable means of ensuring that the monies get to the needy.

Addressing the worry over the release of sensitive data, the group said “BVN allows us to make sure it cannot be abused (multiple requests). You are in safe hands, your data is safe. But this is absolutely mandatory data to access funds, without it we cannot establish who you are and prevent abuse.” 

Related

Tags: BVNCoronavirus pandemicCOVID-19 relief effortsCOVID-19 relief fundsTechpreneurs

Comments 16

  1. Theresa nwadike says:
    June 17, 2020 at 8:03 pm

    I wish i can be helped my shop at relief shopping plaza ati kenebu..rochas shopping mall a54 has been locked since this covid 19 started and my kids has not been eating very well …even right now i have nothing at home to eat..since 2day we have not eating anything today i have to borrow to feed my home.pls for the love of christ i need serious help

    Reply
    • Christopher musa says:
      June 22, 2020 at 12:17 pm

      I need the link to apply I have an account with my bvn

      Reply
      • Uzairu Abubakar Fakai says:
        August 13, 2020 at 12:59 pm

        I need the link to which I can apply

        Reply
    • Jeremiah says:
      November 10, 2020 at 10:25 am

      I didn’t see any money

      Reply
      • Nwite Sunday says:
        December 2, 2020 at 9:04 am

        Send the link to their website to me.

        Reply
  2. Friday Francis says:
    November 7, 2020 at 12:31 am

    kindly send me the link to there website so that i can apply .

    Reply
    • Hassan rabiu says:
      November 28, 2020 at 11:14 pm

      1000ml

      Reply
  3. Samuel says:
    November 12, 2020 at 10:27 pm

    Plsss I need the link to apply

    Reply
  4. nafiu ibrahim says:
    November 19, 2020 at 5:06 pm

    ineed it

    Reply
  5. NURA MOHAMMAD AHMAD says:
    November 20, 2020 at 6:38 am

    Please l need a link to apply.

    Reply
  6. KARIMATU HARUNA says:
    November 20, 2020 at 6:42 am

    Please l need a link to apply.

    Reply
  7. SOR QUEEN says:
    November 20, 2020 at 9:50 am

    please send me the link let me apply

    Reply
  8. Anonymous says:
    November 21, 2020 at 5:58 am

    Abubakar mohammed

    Reply
  9. Yusuf abubakar says:
    November 26, 2020 at 10:57 pm

    Thank you for help people in nigeria

    Reply
  10. Adeyemi suliyat says:
    November 30, 2020 at 10:33 pm

    Pls I need the link

    Reply
  11. God'smemory says:
    December 1, 2020 at 11:30 pm

    How can I get my own #20,000

    Reply

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