Nigeria Postal Service (NIPOST) has announced its plans to deliver financial services across Nigeria and beyond, leveraging its International Money Transfer Operator (IMTO) and Super Agent licenses.
Gatekeepers News reports that the service, according to Postmaster General and CEO Tola Odeyemi, has renewed its licenses with the Central Bank of Nigeria (CBN) and paid fines to begin delivery of financial services after an eight-year hiatus.
Odeyemi disclosed that NIPOST has two licenses: a Super Agents license and an International Money Transfer Operator license.
To facilitate cross-border payments and remittances, NIPOST has begun signing bilateral agreements with different countries, targeting African countries where Nigerians face challenges in cross-border payments.
“Sending money from Cameroon to Nigeria is harder than sending money from the U.S. to Nigeria,” Odeyemi said.
While NIPOST exceeded the N10 billion annual revenue benchmark last year, Odeyemi believes this record is just a scratch.
“We actually surpassed N10 billion last year, and that was just by digitising some of our processes and plugging leakages. I think for the Nigerian Postal Service, N10 billion naira is a scratch,” she added.
Odeyemi highlighted several transformation strategies, including: deeper integration with Nigeria’s fast-growing e-commerce space, expanding digital services like PostMoni, and leveraging the National Addressing System to boost financial inclusion and security.
She also noted that NIPOST’s addressing framework could help the Nigerian Police combat crimes and improve emergency responses if adopted.
