NIPOST, Fidelity Bank deploy banking service to 266 rural communities

Must Read

TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution (Photos)

Abuja Nigeria   December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services...

Hotel Group BON to Open 22 Properties in Nigeria’s Major cities, Secondary towns

International hospitality group BON Hotels says it plans to open over 22 hotels in Nigeria’s major cities and secondary...

Amazing Ankara Styles To Wear To An Occasion

If you have been recently invited to a wedding in Nigeria, there are lots of good options. From Aso Ebi to lace...
- Advertisement -
- Advertisement -

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.

Read:  Fidelity Bank Donates Laboratory To Correctional Home

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.”

Read:  Honeywell Flour Mills Reports 34% Revenue Growth in Full Year 2018 Results

“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.”

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Anthony Joshua beats Andy Ruiz to win back world heavyweight titles

Anthony Joshua is the heavyweight champion of the world once more. Having suffered one of the biggest upsets in boxing history back...

News Highlights of November 2019 (Video)

It was a November to remember, as the battle for survival continues among brands, new ventures, opportunities, investments and the making of a payment...

Video Streaming Market to Reach $149.34 Bn Globally by 2026 at 18.3% – Report

Allied Market Research published a report, titled, "Video streaming market by Component (Solution and Services), Solution Type (IPTV, Over-the-top, and Pay TV), Streaming Type (Live/Linear...

May & Baker Nigeria Agrees to Manufacture 4 Product Brands for Sanofi in New Deal

The National Agency for Food & Drug Administration & Control (NAFDAC) has expressed strong support for the efforts by Sanofi, a multinational healthcare company,...

More Articles Like This