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NIPOST To Begin Super Agency Banking Operations In March

The Nigerian Postal Service (NIPOST) says it will begin its super-agency banking operations throughout the country by March 2022.

Post-Master General of the Federation, Dr Ismail Adebayo Adewusi disclosed this at a press briefing in Abuja.

“In 2019, it (NIPOST) secured the status of Super-Agent and International Money Transfer Operator (MTO) from the Central Bank of Nigeria. These licenses have enabled the organisation to go into collaboration with Fintech, FSP, NCS, IMTOs, and Remita with a view to developing an agnostic platform, set for roll out in the first quarter of 2022,” Adewusi told journalists.

The NIPOST boss said though the postal agency had been providing financial services for over five decades, it will now leverage on Information Technology to operate super agency banking.

Adewusi said the Post Bank would provide a template for a “one stop shop”, where customers can go and have services such as withdrawals, deposits, transfers, international remittances, bill payments, insurance services and other forms of financial services to serve different segments of the population.

He said NIPOST would soon be Nigeria’s cash cow.

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