The Nigerian Postal Service (NIPOST) has concluded plans to launch a microfinance bank that would enable 52 million unbanked Nigerians to conduct financial transactions through its various outlets in all of the nation\u2019s 774 local councils.
\nThis proposed launch will be coming on the hills of its recent launching of e-debit card, which can be used\u00a0 both offline and online.
\nMinister of Communications and Digital Economy, Isa Ali Pantami, who disclosed\u00a0 this recently at a public function in Abuja, stated that the Federal Government is transforming the organisation to play a critical role in the Fourth Industrial Revolution.
\nWhile noting that it was impossible for any economy to be transformed without digitisation, the Minister said a digitised economy will improve ease of doing business, improve transparency and fight corruption.
\n\u201cWe are in the process of digital transformation. What we are doing today is to ensure that NIPOST is digitalised so that it will deliver on its mandate\u201d, he said.
\nFor the NIPOST\u2019s debit card,\u00a0 he said that the agency was\u00a0 not agitating for\u00a0 the replacement of other debit cards, but rather an alternative banking platform.
\nAccording to him,\u00a0 it will be complimentary and provide other alternatives, particularly to those\u00a0 living in unobserved and underserved environments.
\n\u201cNIPOST exists in so many places where other banks will not exist in Nigeria, because the service is in every local government.
\n\u201cWe want to leverage that, and ensure that with the use of NIGCOMSAT to provide Internet connectivity all over the country in places where there is no ATM machines and banks.
\n\u201cIt would be an alternative for underserved communities\u201d, he said.
\nAccordingly,\u00a0 he revealed that\u00a0 it offers\u00a0 several economic advantage\u00a0 due to its simplicity in\u00a0 financial transactions for citizens, adding that it will\u00a0 enable them\u00a0 spend more at the comfort of their homes.
\n\u201cFinancial transactions have been increasing globally, and these transactions leverage digital technologies\u201d, he said.
\nEarlier,\u00a0 The Post Master General of the Federation, Dr. Ismail Adebayo Adewusi, said the event marks another milestone in NIPOST\u2019s efforts to reposition itself in line with the current digital transformation initiatives of the Federal Government.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian Postal Service (NIPOST) has concluded plans to launch a microfinance bank that would enable 52 million unbanked Nigerians to conduct financial transactions through its various outlets in all of the nation\u2019s 774 local councils. This proposed launch will be coming on the hills of its recent launching of e-debit card, which can be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-288601","post","type-post","status-publish","format-standard","hentry","category-icttelecom"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/288601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=288601"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/288601\/revisions"}],"predecessor-version":[{"id":288632,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/288601\/revisions\/288632"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=288601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=288601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=288601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}