Leveraging on its effective spread across Nigeria’s communities, NIPOST, the Nigerian Postal Service, on Thursday, launched its on digital banking platform, the e-debit card.
While performing the launch, the Minister of Communications and Digital Economy, Isa Pantami, said they will also help the government in improving transparency and fighting corruption.
“It is the first of its kind in Nigeria because it works offline and online, and it is the first time that NIPOST has come up with a solution similar to this and it is indeed a multipurpose card for financial transaction, conditional cash transfer, payment of bills and many more,” he said.
He said the NIPOST banking platform will allow NIPOST to conduct financial transactions with most importantly, Universal Postal Union, UPU, member countries.
Pantami added that the innovative solution that will improve the financial system, and is in alignment with the intention to establish the NIPOST Microfinance Bank.
“So, this is just like a pilot programme of another subsidiary of NIPOST that will come up soon, that is the NIPOST Micro Finance Bank in which we are to leverage on the existing infrastructure of NIPOST and make sure that our citizens all over the country as long as they have access to the post office, they will be able to conduct their financial transactions,” he said.
The Postmaster-General of the Federation, Ismail Adewusi, said the innovation is aimed at strengthening the capacity of the nation’s postal service to live up to its responsibilities amidst the emerging threats of the digital era.
The debit card is expected to boost financial inclusion nationwide, as the cards will be given free to Nigerians at every NIPOST outlet. Also, the card will function even without the internet and can be replaced easily if stolen or lost.
The banking agency will function similarly like the Point of Sales (POS). The agency said since it has structures in all local governments in Nigeria, it will assist residents of rural areas to improve their financial activities.