Nigeria: NIPOST embraces Financial Technology

‌‌In a quest to improve its services, Financial Inclusion is key to ensuring that the upgrades of the productivity of the postal service and its pursuit to remain relevant in a digital world

Inclusion Times Gabriel Enyinwa

The Nigerian Postal Service (NIPOST) has launched an e-debit card and agency banking platform. Introducing financial inclusion as part of its services to the Nigerian community. Founded in 1987, the government-owned postal service with over 12,000 employees is responsible for collecting, dispatching, and distributing mails inland and overseas. Commenting during the unveiling, the Minister of Communications and Digital Economy, Isa Pantami stated that; "It is the first of its kind in Nigeria because it works offline and online, and it is the first time that NIPOST has come up with a solution similar to this and it is indeed a multipurpose card for financial transaction, conditional cash transfer, payment of bills and many more".

‌‌In a quest to improve its services, Financial Inclusion is key to ensuring that the upgrades of the productivity of the postal service and its pursuit to remain relevant in a digital world. For instance, the e-debit card will require biometric information of users, this will promote a secure and easy process in business transactions and bill payments. In addition, the banking platform which is Point Of Sale (POS) based will also ensure that Nigeria Postal Service is on course towards achieving its goal of establishing a Micro Finance Bank.

‌‌Recent transformational activities have proven that the NIPOST is here to stay, as it continues to improve its services and promote digital literacy amongst the Nigerian community.

‌‌Nigeria in focus:

Population: 206.1 million in 2020 as compared to 201 million in 2019

‌‌GDP: $432.3 billion compared to $448.1 billion in 2019

‌‌GDP per capita: $2,097 in 2020 compared to $2,229 in 2019

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Gabriel Enyinwa

Writer | Columnist