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Tuesday, 25 October 2016

Postal Banking: NIPOST Plans To Offer Banking Services

Communications minister Shittu says proposal submitted to president Buhari, requesting NIPOST to begin banking services.
NIPOST may have largest branch network, using its 1, 500 postal offices as outposts for financial services.

The Minister has revealed that the President’s approval is being sought to establish a NIPOST bank, positioned to serve millions of Nigerians in the rural areas.

If President Buhari agrees, the new NIPOST bank may become Nigeria’s largest bank by branch network with 1,500 postal agencies across the country serving as financial services outposts.

The Minister said that President Buhari has asked the Attorney-General to look into the proposal to set up NIPOST bank, similar to the Japan’s Postbank, offering people-based financial services like bureau de change alongside postal services.

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