NIPOST, Fidelity Bank Deploy Banking Service to 266 Rural Communities

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  • NIPOST, Fidelity Bank Deploy Banking Service to 266 Rural Communities

The Nigeria Postal Service and Fidelity Bank Plc on Thursday entered into a collaboration to deploy modern banking services to Nigerians in 266 rural communities.

The move is part of the measures to boost the level of financial inclusion in the country and reduce the number of those not yet in the formal financial system.

Speaking at the launch of integrated banking services between Fidelity bank and NIPOST in Abuja, Deputy Managing Director of Fidelity Bank Plc, Mr Mohammed Balarabe, said the collaboration would enable the bank to deploy all its banking services in 266 locations using NIPOST offices.

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

The Post Master General of the Federation and Chief Executive Officer of NIPOST, Mr Bisi Adegboye, said NIPOST’s collaboration with the bank was part of the efforts to support the efforts of the banking sector to reduce the level of poverty in the country.

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

“This partnership also avails Fidelity Bank the opportunity to expand its network using the over 1,800 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.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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