By Collins Nsiah
Nigeria plans to kit its postal agency, Nigerian Postal Services (NIPOST) with powers toto commence “banking and insurance services”to encourage uptake of mobile money particularly in rural and other under-served locations.
Minister of Communications Barr. Adebayo Shittu announced this at a recent forum on mobile money in Lagos. said this while delivering the keynote address at the Nigeria Mobile Economy
“NIPOST is part of the ministry of communications, there is need for financial inclusiveness particularly for the rural dwellers, and we have started the reforms to introduce banking into NIPOST services. We hope to have NIPOST banking and insurance services,” he said.
Shittu challenged stakeholders to engage government in ensuring the model works. His words: “I will like your advice on how that should be and the type of licenses we would need to run a NIPOST banking and insurance services, your contributions will be regarded as sacrifices for national growth.”