From Adanna Nnamani, Abuja
The Minister of Communications and Digital Economy, Isa Pantami Thursday, launched Nigerian Postal Service Debit Card and Agency Banking platform to deepen financial inclusion and boost Nigeria’s digital economy.
To strengthen NIPOST competitiveness in the courier industry, the Minister also unveiled 27 Courier service vehicles.
Pantami, at the unveiling ceremony in Abuja said it is impossible for any economy to be transformed without digitization, adding that the digitized economy will enhance ease of doing business, improve transparency and address the challenges of corruption.
According to the Minister, the NIPOST debit card will complement and serve as an alternative to other debit cards especially in “underserved communities” where there are no Automated Teller Machines (ATMs) or Point of Services (POS). He noted that NIPOST has more infrastructure all over the country than most other government institutions and would provide both online and offline banking services to such communities.
“We are in the process of digital transformation, transformation will not be possible without digitalization.
“What we are doing today is to ensure that NIPOST is digitalized so that they will deliver on their mandate by Law.
“NIPOST’s Debit card, we are not agitating that it must replace our other debit cards but rather an alternative banking platform. Most importantly this service can be used online and offline. It is complementary and provides other alternatives, particularly to the people living in unobserved and underserved environments.
“NIPOST exists in so many places where other banks will not exist in Nigeria, because the service is in every local government. We want to leverage on that, and ensure we use NIGCOMSAT to provide internet connectivity all over the country in places where there are no ATM machines and banks, and that will be an alternative for the underserved communities.
“There are many economic impacts, because when you simplify financial transactions for citizens, you enable them to spend more at the comfort of their homes. Financial transactions have been increasing globally, and these transactions leverage digital technologies to do so. In the case of the presentation, it was mentioned that POS (Point of Services) cost over N6 trillion naira in Nigeria. If there is no POS this will not be possible, there is no doubt it has many impacts on us and allows citizens to be at the comfort of their villages to do financial transactions”.
He also commended NIPOST management and encouraged them to continue to put in the hard work in driving the FG’s digitization agenda.
Earlier in his welcome remarks, the PostMaster General (PMG)/CEO, NIPOST Dr. Ismail Adewusi said the occasion marks another opportunity to reposition the agency’s services according to best global standards.
According to Adewusi, he acquired Seven zones and 108 districts upon assumption of office two years ago, which were running on high operating costs.
He said, “Upon my resumption 2 years ago, I met with the management and we made a serious appraisal of the post, including among others, tinkering with the operating structure and reintroducing states territorial management structure under the direct supervision of coordinating directors operating.
“This is, however, all geared towards reducing operating costs, increasing the revenue base and rejuvenating the system with a view to restoring public confidence,’’ he said.
The NIPOST boss said two subsidiary companies were created out of the Nigerian Postal Service (NIPOST) in the last two years, namely, the NIPOST Property and Workshop Ltd and the Transport and Logistics Ltd.
According to him, “We equally created the Stamp Denotation and Authentication Department, following the amendment of the Finance Act 2020 which restores the mandate of NIPOST to produce adhesive postage stamps for the purposes of authenticating duties or fees.’’
Newssphere reports that 27 logistics vehicles were commissioned in partnership with Speedaf Express, an international logistics company that are expected to cater to e-commerce and speedy delivery of logistics all over the country.
The agency banking platform which is POS (point of sale) based is a multi-teller banking system and all products and services are in line with Universal Postal Services standards and are available in all NIPOST offices nationwide.
The debit card is mostly design to reach the banking needs of population residing in remote areas, the card relies heavily on biometric information of the user like fingerprint which means it can work online and offline.
