To further diversify its operations and service more customers, the Nigeria Postal Service (NIPOST) is set to deliver financial services across Nigeria and beyond, leveraging its international money transfer operator (IMTO) and super-agent licences.

This was revealed by the Postmaster General and Chief Executive Officer of NIPOST, Tola Odeyemi, during a television interview.

Odeyemi, who said NIPOST revenue was over N10 billion in 2024, noted that the Service is banking on these two new services and its e-commerce initiative to deepen its revenue.

According to her, the Service has renewed its licenses with the Central Bank of Nigeria (CBN) and paid some fines to begin delivery of financial services after about eight years since the business was shut down.

“NIPOST has two licenses, a Super Agents license as well as an International Money Transfer Operator license. Unfortunately, something had happened with that IMTO license, and it was shut down for about seven, eight years.

“But last year, we were able to pay off all the fines, and it’s now back up,” she said.

Multilateral agreement to facilitate cross-border payments to facilitate cross-border payments and remittance, Odetola said NIPOST has begun signing bilateral agreements with different countries.

She disclosed that African countries are the main target because that is where most Nigerians face challenges in cross-border payments.

“Sending money from Cameroon to Nigeria is harder than sending money from the U.S. to Nigeria. So, right now we’ve signed bilaterals with Togo, Benin, and I think a couple of other countries.

“There’s a particular agreement that right now is going through the justice system,” she said.

While disclosing that the agency exceeded the N10 billion yearly benchmark last year, Odetola said that the record would become insignificant with the new push into other businesses, stressing that the Service wants a bigger role in the digital economy.

“We surpassed N10 billion last year, and that was just by digitising some of our processes and plugging leakages. I think for the Nigerian Postal Service, N10 billion is a scratch,” she stressed.

According to her, the major services of NIPOST can generate much more for the nation, even as operations within the organisation have been drastically optimised to ensure optimal service delivery that yields more revenue.

Odeyemi highlighted several transformation strategies, including deeper integration with Nigeria’s fast-growing e-commerce space, expanding digital services like PostMoni and leveraging the national addressing system to boost financial inclusion and security.

She explained that if the Nigerian Police adopts NIPOST’s addressing framework, the Force can better combat crimes and improve emergency responses.

Recall that NIPOST recently signed a direct international mail partnership with KLM Royal Dutch Airlines, improving its logistics and mail delivery services.

Odeyemi, who announced this on X, said that the collaboration will significantly enhance the efficiency of international mail delivery by eliminating reliance on third-party handlers.

“I am incredibly delighted to share a major milestone from my work as the Postmaster General of NIPOST: We have officially signed a direct international mail partnership with @KLM Royal Dutch Airlines, a milestone that marks the first of its kind in many years,” she said.

Odeyemi disclosed that the partnership with KLM marked the first direct international mail collaboration for NIPOST in years.

She disclosed that for a long time, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers, which often resulted in delays, higher costs and uncertainty around the delivery of packages.

According to her, with this new partnership, KLM will now handle “our outbound international mail directly, with no middlemen involved”.

For clients, the PMG said this translates to, among others, faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network.