The Nigerian Postal Services says it will deploy agency banking for financial inclusion of unbanked rural dwellers and its customers in suburban communities within its areas of coverage.
Speaking with journalists at the 2016 merit award for 2025 deserving workers, the Postmaster General of the Federation, Mr. Bisi Adegbuyi, ruled out the possibility of establishing its own banking subsidiary in order to cater for the banking needs of its customers in rural communities.
He said NIPOST would rather go into agency banking in accordance with the advice provided by its consultants.
Adegbuyi said giving the nation’s present economic circumstances, establishing a post bank as had been done by some countries would not be feasible but added that plans were underway to explore agency banking.
According to him, a cocktail of payment settlement services would be the best route to take to cater for the needs of rural dwellers that had been excluded from traditional banking services instead of establishing a full banking subsidiary.
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