NIPOST Reactivates IMTO, Super Agent Licences to Offer Financial Operations

This was disclosed by ...master General and CEO of NIPOST, Mrs Tola Odeyemi, disclosed this during a Channels TV programme, monitored by Business Post on Monday.

According to her, ...al service is seeking to boost its revenue through the reactivation of these two services.

She also disclosed that NIPOST surpassed N10 billion last year driven by increased digital technology adoption.

According to her, the service has renewed its licenses with) and paid some fines to begin delivery of financial services after about eight years since the business was shut down.

“NIPOST has two licenses, a Super Agents license as well as an International Money Transfer Operator license. Unfortunately, something had happened with that IMTO license, and it was shut down for about seven, eight years.

“But last year, we were able to pay off all the fines, and it’s now back up,” she said.

Mrs Odetola said NIPOST has begun signing bilateral agreements with different countries to facilitate cross-border payments and remittance.

According to her, African countries are the main target because that is where most Nigerians face challenges in cross-border payments, revealing that some of Nigeria’s West African neighbours are already on board.

“Sending money from Cameroon to Nigeria is harder than sending money from the US to Nigeria. So, right now we have signed bilaterals with Togo, Benin, and I think a couple of other countries.

“There’s a particular agreement that right now is going through the justice system,” she said.

Speaking on the exceeding the N10 billion annual benchmark last year, Mrs Odetola said that the record would become insignificant with the new push into other businesses.

“We actually surpassed N10 billion last year, and that was just by digitizing some of our processes and plugging leakages.

“I think for the Nigerian Postal Service, N10 billion naira is a scratch,” she added.

According to her, the major services of NIPOST can generate much more for the nation, even as operations within the organization have been drastically optimized to ensure optimal service delivery that yields more revenue.

...master General 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 explained that if the Nigeria Police adopts NIPOST’s addressing framework, the Force can better combat crimes and improve emergency responses.

Recall that last week, NIPOST announced partnership with KLM Royal Dutch Airlines to improve international mail delivery services.