NIPOST targets 52 million unbanked Nigerians, unveils e-debit card

The Nigerian Postal Service (NIPOST) has launched its e-debit card and is finalising arrangements 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’s 774 local councils.

Speaking at the event, yesterday, in Abuja, Minister of Communications and Digital Economy, Isa Ali Pantami, clarified that the Federal Government was transforming the organisation to play a critical role in the Fourth Industrial Revolution.

He observed that it was impossible for any economy to be transformed without digitisation, adding that a digitised economy will improve ease of doing business, improve transparency and fight corruption.

His words: “We are in the process of digital transformation. What we are doing today (yesterday) is to ensure that NIPOST is digitalised so that it will deliver on its mandate.

“For the 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 complimentary 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 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, it would be an alternative for underserved communities.”

He went on: “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.”

Earlier, Post Master General of the Federation, Dr. Ismail Adebayo Adewusi, said the event marks another milestone in NIPOST’s efforts to reposition itself in line with the current digital transformation initiatives of the Federal Government.