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NIPOST Launches Integrated Agency Banking Services










The Nigeria Postal Services has launched the Integrated Agency Banking services in collaboration with Fidelity Bank, which will extend financial services at affordable cost to sections of disadvantaged and low income rural dwellers in the society.

The Post Master General, Barrister Bisi Adegbuyi disclosed that with the new innovation, NIPOST customers will get banking services in the Post Offices nationwide.

He made the disclosure at the launching of Integrated Agency Banking and TSA collections in collaboration with Fidelity Bank in Abuja.

Barrister Adegbuyi explained that with the introduction of the new services, the citizen would be able to deposit and withdraw money, including payment of bills for utility services in Post office where the services are available without stress.

Speaking further, he noted that the partnership will avail the bank the opportunity to expand its network using the over 1800 post office facilities across the country.

“This initiative is in line with the Federal Government’s financial inclusion policy, which places high premium on providing financial services to the under-banked and unbanked populace who work in the informal sector without access”.

In addition, the Post Master General added that the Central Bank of Nigeria recently granted NIPOST Super Agency license which in principle is to operate agency banking.

“The Agency Financial services unit was mandated to establish a Financial Services supermarket where customers of various service providers can have access to the products and services, and also develop an agency banking framework to serve as guidelines for all banks in the country”.

The Deputy Managing Director of Fidelity Bank, Mohammed Balarabe noted that the project is made to capture financial inclusion of all Nigerians.

He added that with the Integrated Agency Banking services, individual who are in the remote part of the country will have access to banking services.

“Our strategy for financial inclusion is to make banking services available to all Nigerians , irrespective  of the location. This partnership with NIPOST will enable us to reach individual who are in the rural area, and do not have access to financial services”.

The Head Digital Financial Services CBN, Stephen Ambore stressed the fact that a large number of the population do not have access to banking services.

He harped on the need for the country to achieve financial inclusion by the year 2020, especially with the introduction of digital services.

“Nigeria as a country has decided to achieve financial inclusion, but it is rather noteworthy that several thousands of the population still do not have access to financial services, which may hinder the development of the country in different sector”.

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