Nipost Set to Offer Mobile Money Services

Mrs. Omobola Johnson, minister of Communication Technology has said that Nigeria Postal Service (Nipost) will compete with banks and mobile money operators to offer financial services to Nigerians starting from next year

Johnson, stated this at Nipost top management retreat in Abuja and  said her ministry is currently working with the Central Bank of Nigeria (CBN) to work out how Nipost fits into the various financial inclusion programmes of the apex bank.

According to her, Nipost will use its numerous assets across the country to offer standard but cheaper financial services especially to the urban and rural unbanked Nigerians.

She said Nigerians would see a transformed Nipost next year as the agency would have  compete favourably with private owned courier companies.

She said: “We are currently working with the CBN to see how Nipost fits into its financial inclusion strategy. Nipost will use its numerous assets to offer financial services through the postal network. The postal financial services of Nipost will be cheaper but standard.

“That is what we have been talking about over the last two days; we are going into partnership with CBN and other private sector players to offer the service.  Nipost will be a super agent for the mobile money; we want to offer financial services that are cheaper, and we are in the rural areas already so we already have large market in the rural areas and on how much is going to cost, we are still working on that with the CBN and other private sector players and I hope by early next year we should disclose it.”

The minister said the new service to be rendered by Nipost would go a long way in making it increase the earning of the agency, especially in the face of challenges from email and social media.

She said there is a bill in the National Assembly seeking to separate Nipost regulatory function from Nipost as a player.