Home Business Fidelity Bank partners NIPOST, launches agency banking – Blissful Affairs Magazine

Fidelity Bank partners NIPOST, launches agency banking – Blissful Affairs Magazine


>> >> L – R: Head Digital Financial Services, Central Bank of Nigeria (CBN), Mr Stephen Ambore;Managing Director, Threeline Ltd, Mr. Femi Omogbenugu; Deputy Managing Director,Fidelity Bank Plc, Mohammed Balarabe; Postmaster General/CEO, NIPOST , Mr Bisi Adegbuyi; Head Northern Directorate, Fidelity Bank, Hassan Imam, and GM, Financial Service Business Unit, NIPOST, Muktar Baba during the launch of bank@post; a TSA/Agent Banking initiative between NIPOST and Fidelity Bank in Abuja on Thursday

To make financial inclusion a reality, Fidelity Bank is collaborating with the Nigeria Postal Services (NIPOST) to bring modern banking services directly to people in 266 rural areas.

Speaking at the launch of integrated banking services between the bank and NIPOST in Abuja on Thursday, Deputy Managing Director of the bank Mr. Mohammed Balarabe said the lender was collaborating with NIPOST as part of its financial inclusion strategy by deploying all its banking services in 266 locations using NIPOST offices in locations lacking banking facilities.

These initial 266 locations he said will be increased over time to capture other locations using NIPOST offices.

Under this collaboration, bank customers can use POS, deposit into any bank operating in Nigeria, withdraw from any bank account in Nigeria, engage in ATM transactions, transfer to any bank account, carry out payment services like taxes, rates and levies; school fees; electricity bills and satellite television subscriptions.

In his address, Post Master General of the Federation (PMG) and Chief Executive Officer of NIPOST Mr. Bisi Adegboye said NIPOST “the sleeping giant has come back to life to fulfil its Corporate Social Responsibility.”

He said: “The internet has taken away the old ways of making money from NIPOST but has also opened exponential opportunities by leveraging on new technology and ICT to tap into current trends of transactions like online purchases.”

NIPOST he assured will make itself relevant to change the lives of Nigerians.

One of such changes is that NIPOST now plans to give every Nigerian a digital address yo make easy for Nigerians to access credit and resolve issues surrounding identity management in the country.

Adegboye said “this partnership also avails Fidelity Bank the opportunity to expand its network using the over 1800 post office facilities nationwide to take banking closer to the people in line with the Federal government’s Financial Inclusion policy which places high premium on providing financial services to the under-banked and unbanked populace, who work in the informal sector of the economy without or less access to financial services.”

He added that “the integrated Agency Banking services incorporate the collections of a treasury single account (TSA) on a single platform. With this development, it means that NlPOST customers can also get banking services in the Post offices nationwide and can deposit and withdraw money, including payment of bills for utility services in Post offices where these services are available without stress.”

The collaboration he stated has “added impetus to NIPOST revenue drive as it would no doubt boost our revenue profile in addition to tradition postal services.”


Please enter your comment!
Please enter your name here