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By Samuel Adegoke
The Postmaster General of the Federation, Dr Adebayo Adewusi has disclosed that the Nigerian Postal Service(NIPOST) is on the verge of establishing a bank of its own.
Adewusi stated this while featuring on a phone-in political programme, South West Political Circuit, on Fresh 105.9 FM Ibadan, at the weekend.
The Postmaster General, who was appointed three months ago, said the organization is in the process of being unbundled, pointing out that three companies have been registered to carry out specific services under NIPOST mandate. The companies include transport and logistics, property development and banking.
According to Adewusi, the bank, which will be a bridge between commercial and micro finance bank, will operate at NIPOST branches and take banking services to the doorsteps of the masses. It will also support businesses at local level across Nigeria.
He said the process of establishing the bank was already in the pipeline, adding that it will progress as soon as the lockdown caused by the coronavirus is over.
Adewusi noted that NIPOST Bank will promote financial inclusion as it will provide banking services in several areas which existing banks do not cover.
The property development company, he explained, will dwell on the over 3,000 properties of NIPOST which are scattered all over the country by maximising their usage through value addition, adding that the logistic and property development companies are expected to take off this year.
Adewusi, who lamented that things have gone very bad with NIPOST in the last decades due to neglect, said the organization has not received any money for capital project in the last 22 years. He agreed that NIPOST’s misfortune has been compounded by the disruption of technology which has shifted attention from posting letters and related activities to the internet.
He thanked President Muhammadu Buhari and Minister of Communication,Issa Alli Pantani for providing enabling environment and necessary support for the transformation strategy being implemented for the organization.
Adewusi assured that his team was already working hard to turn the fortunes of the organization around, noting that the massive infrastructure and branch network of NIPOST is an advantage that can be tapped to restore its glory.