Fidelity Bank PLC has launched a 266 new Integrated Agency Banking and Treasury Single Account (TSA) collections project in collaboration with Nigerian Postal Service (NIPOST). The collaboration is targeting over 1,400 other locations across the country in a short time.
The launching of the Agency Banking is part of efforts to extend financial services at affordable costs to sections of disadvantaged and low-income segments of society. The integrated Agency Banking services incorporate the collections of a TSA zero percentage single platform.
With this development, it means that NlPOST customers can also get banking services in the Post offices nationwide and can deposit and withdraw money, including payment of bills for utility services in Post offices where these services are available without stress. The collaboration is an added impetus to NIPOST’s revenue drive as it would no doubt boost our revenue profile in addition to tradition postal services, said postmaster general of the federation, Barrister Bisi Adebuyi.
Deputy managing director, Fidelity Bank PLC, Mohammed Bararabe, said the project is in line with the bank’s strategy for financial inclusion. He noted that 60-70 per cent of the nation’s population is unbanked.
“We collaborate with NIPOST to deploy banking services to all corners of the country,” he said, adding: “We will start with 266 locations in the pilot phase. We are targeting 1,400 locations for this project, but for now, we are beginning with 266 branches as pilot centres before we expand the scope. Fidelity will work through this and ensure that more of the locations are open to deepen the initiative.”
According to Adebuyi, the new project has the potential to increase the revenue base of NIPOST and enhance the savings culture of the rural dwellers as well as help in mopping excess cash from rural communities, help to drive government’s financial inclusion policy and facilitate funds’ transfer between citizens for mutual benefit’’.
Bayelsa Guber: Mixed Reaction As David Lyon Joins APC Governorship Race
US Backs NDDC Over Niger Delta Development
Attack On Ekweremadu, Blessing In Disguise – Chief Ugwu
Kaduna Police Bans Volunteer Security Outfit
Foundation Renders Free Medical Outreach To Nasarawa Community
Nigeria Can Survive Without Imported Food – APC Chieftain
Harness Talents Of Nigerian Youths, NYCN Urges New Minister, Dare
FEATURES13 hours ago
As Supreme Court Puts Delta North Senatorial Dispute To Rest
NEWS23 hours ago
Kogi To Upgrade 132 Traditional Stools, Inaugurates 23 Man Planning C’mttee
NEWS22 hours ago
Guild of Investigative Journalists Scores Gov Bello High
COVER STORIES12 hours ago
How Notorious Kidnap Kingpin, Wadume, Was Nabbed In Kano
NEWS24 hours ago
Youths, Traders Threaten Attack On Suspended Ogun APC Chairman
NEWS23 hours ago
Fayemi Appoints Olanipekun As EKSU Substantive Vice Chancellor
COVER STORIES13 hours ago
New Ministers Will Deliver, Says PMB
BUSINESS22 hours ago
NSE Indices Record 0.21% Loss