Monday , October 18 2021

NIPOST gets CBN Cross-Border Money Transfer License



As part of its reforms to become a communications meeting point, the Nigerian Postal Service (NIPOST) has received the Central Bank of Nigeria (CBN) international money transfer operators’ license.

The Postmaster General of the Nigerian Postal Service (NIPOST), Adebisi Adegbuyi who made the disclosure at the just concluded Lagos International Trade Fair noted that agreement has been signed with Western Union.

“With this CBN license, our customers will be able carry out simple financial transactions with their relatives or business partners easily. NIPOST is starting with eight banks remittances and agreement has been signed with the Western Union. They will be using our post offices as pay out.” according to him.

Adegbuyi disclosed its plan for NIPOST to become a communication meeting point, where other value added services would be provided aside posting of letters and documents.

He reiterates commitment to customers service satisfaction, reliability, speed, affordability and responsiveness.

Adegbuyi stated that an effective regulation has been put in place to facilitate good business activities and make the environment much more conducive as postal order and stamps has become more convenient.

ALSO RELATED: Pantami stops cash payment in NIPOST office Nationwide

On the need to automate its services , the Post Master General said the service has started the process, which was partially delayed due to Nigeria’s growing  population.

According to him, after the conclusion of registrations and trainings, NIPOST premises can now be used for biometrics registration, data capturing, and final collection with necessary license given. Also the postal service is in partnership with the Federal Road Safety Corps for drivers to collect their licenses from NIPOST centers after registering with the corps.

Adegbuyi added that with NIBSS and CBN approval, BVN registration can also be done in their premises and as a result of its wide reach, plans are underway to ensure that farmers can start accessing credit facilities and loan with single digit interest from NIPOST.

Since NIPOST has the reach all over Nigeria, he said “ we need to leverage on that and turn the Service to a massive employment and revenue generating agency.

On the plan for LCCI to partner with NIPOST to drive the sustainable growth of medium small micro enterprises (MSMEs), Adegbuyi suggesed that a summit be held where small business owners will come together and share their challenges and opportunities.

As a post, which belongs to the universal postal union of 192 countries, he promised to help small businesses advertise their products on the platform.

Furthermore, the General Manager (EMS), Mrs Tayo Taiye Ajayi notified the general public that; to hasten speedy delivery as well as boost customer satisfaction, the organisation has added Kano Airport Express to reach out to customers in the far north.

According to her, the volume of mail traffic has improved over the years, reaching about 350,000 mails for speedpost in 2018. In the volume of sales, in 2017 EMS raked N1.8million in revenue and dropped to N1.2 billion in 2018 but it’s estimated to spur up to N4 billion in 2019.

ALSO READ: Nigeria, best for Telecom Business – World Telecom Labs

She said delivery within West African countries now take only four days and five days for other African countries.

“Presently, NIPOST has over 80 EMS regions with over 500 offices nationwide and 4 Airport Express at its disposal. The Airport Express will ensure same day delivery of goods with six hours.

“Our mission is to be a responsive courier service providers that meet the aspirations of our customers with added value at low cost”.

Meanwhile, LCCI President, Babatunde Ruwase, has commended the Service for the introduction of a wide range of products and services, including E- commerce, logistics and micro finance collaborations among others


About Bukola Olanrewaju

Check Also

Access Bank Completes Acquisition of Majority Stake in BancABC Botswana

Access Bank Completes Acquisition of Majority Stake in BancABC Botswana

Access Bank Plc has completed the acquisition of a majority stake of 78.15 percent in …

Leave a Reply

Your email address will not be published. Required fields are marked *