NIPOST to launch rural bank —Shittu

NIPOST to launch rural bank —Shittu
The Nigeria Postal Service (NIPOST) will soon introduce Post Bank to extend banking services to rural dwellers.
This was disclosed on Sunday in Ibadan by the Communications Minister, Mr Adebayo Shittu, during an interaction with journalists.
According to him, the NIPOST's intervention would enable rural dwellers to have access to banking services. This, he said, would make it easy for them to transact business with people all over the country and enjoy fund transfer from relations in different parts of the world.
Shittu also said there were plans underway to partner all foreign postal services with a view to making the Express Mail Service (EMS) of NIPOST handle all internal distributions across the country.
These, he noted, were part of the reforms the ministry had planned to make NIPOST viable, relevant and effective.
Speaking on revenue generation, the minister said, "There is a law now on stamp duty. Every legal transactions above N1,000 would attract N50 levy as stamp duty", the minister said.
The minister explained that the ministry decided to advertise the vacant post of Post-Master General in line with the transparency stance of the present administration.
According to him, "From the advert, we had 47 applications of which 21 had been selected for interview. The 21 would have their interviews from Wednesday to Friday on the basis of seven persons per day.
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