The Nigerian Postal Service (NIPOST)on Thursday, added financial inclusion as part of its services to Nigerians, introducing its own electronic debit card, agency banking platform and 27 new logistics vehicles for courier services.
Introducing the products, Communications and Digital Economy Minister Isa Pantami said they will also help the government improve transparency and fight corruption.
“It is the first of its kind in Nigeria because it works offline and online, and it is the first time that NIPOST has introduced a solution similar to this and indeed it is a multi-purpose card for financial transactions, conditional cash transfers, payment invoices and many more”, he said.
“This is commendable and in line with our digital economy to achieve a digital Nigeria. Our goal in this country by 2030 is to be fully digitized.”
He said that the NIPOST banking platform will allow NIPOST to carry out financial transactions with the member countries of the Universal Postal Union (UPU), which is more important.
He added that the banking platform is another innovative solution that will improve the financial system and added that this is also in line with the proposal to present NIPOST Microfinance Bank.
“So this is like a pilot program of another NIPOST subsidiary that is coming up soon, that is the NIPOST Micro Finance Bank where we need to leverage existing NIPOST infrastructure and make sure that our citizens across the country. as long as they have access to the post office, they will be able to do their financial transactions,” he said.
Federation Postmaster General Ismail Adewusi said the innovation is aimed at strengthening the ability of the nation’s postal service to fulfill its responsibilities amid the emerging threats of the digital age.
He urged Nigerians to maximize the use of the services and values that the new NIPOST electronic card has brought to their doorsteps.
“I also recommend that everyone take advantage of our e-commerce and logistics company’s unique offerings for local and global needs,” he said.
The debit card is expected to boost financial inclusion across the country as the cards will be given out free of charge to Nigerians at all NIPOST outlets.
In addition, the card will work even without the Internet and can be easily replaced in case of theft or loss.
The bank agency will work in a similar way to the Point of Sale (POS). The agency said that since it has structures in all local governments in Nigeria, it will help residents in rural areas improve their financial activities.