NIPOST Buildings’ Remodelling: CBN To Engage Architects, Others

Ahead of the proposed National Microfinance Bank, the Central Bank of Nigeria (CBN) is planning to engage architects for the remodeling of the Nigeria Postal Services (NIPOST) buildings needed for the project.
The Tide reports that the project is expected to throw up jobs for the nation’s real estate professionals, especially, architects, engineers, estate surveyors and builders.
New structures may also be built while the old facilities are expected to be reconstructed.
Sources hinted last week that the architects and other professionals needed for the projects will be hired by CBN from its pool of consultants, while the property arm of the Nigerian Postal Service is expected to involve their in-house officials in some aspects of the remodeling exercise.
Specifically, the buildings form the equity contribution of the postal system to the bank, which is expected to have an initial capital base of N5 billion. About 774 local councils have been penciled down for the project. The pilot phase will take off in six states and Abuja, namely Oyo, Rivers, Bauchi, Kaduna, Enugu and Kogi.
The design of the structure will include counters, strong rooms and offices for the banking operation.
The scheme is a mechanism,  which the apex bank hopes to drive financial inclusion of the people living in rural communities.  With locations in all the nooks and crannies of the country, NIPOST is providing accommodation for the establishment of the bank.
Confirming this development, CBN’s Director, Corporate Communications, Isaac Okorafor, said  new structures would also be provided where there are none  to facilitate physical contacts where necessary.
Okorafor stressed that the remodeling would be done to ensure that the buildings meet the standards set by the CBN.
He noted that the essence was to improve financial inclusion and capture those in the rural villages leveraging  on the NIPOST’s presence in  the 774 local councils across the country to reach its target beneficiaries.
“Nigeria is large with many rural areas without banking experience , we want to  employ digital payment to reach this people  in the villages  and the best way to reach them  is to get institutions that have a footprints  like NIPOST  that spread throughout the  774 local councils.  So what the CBN and bankers committee has done is to register a company, a micro finance bank that  has footprints across 774 local councils . Wherever there is a physical building of NIPOST already, we will remodel it and use it, if there is none, we will use fabricated building”, he added.
A NIPOST official, Musa Suleiman,  an engineer, said  the agency  would do all the  major maintenance while the  CBN would remodel the areas allocated to it for the  banking services.