The Minister of Communications, Adebayo Shittu has announced that the Nigeria Postal Service (NIPOST) is set to introduce a Post Bank to bring banking services to rural dwellers.
While addressing journalists recently, he said that the ministry would soon arrange with all foreign postal services to make the Express Mail Service (EMS) of NIPOST to handle all internal distributions across the country. He also mentioned that such efforts were part of the reforms the ministry had planned in order to make NIPOST viable, relevant and effective.
According to him, “There is a law now on stamp duties. Every legal transaction above N1,000 would attract N50 levy as stamp duty”.
Many nations’ post offices operated or continue to operate postal savings systems to provide depositors who do not have access to banks a safe, convenient method to save money and to promote saving among the poor. The first nation to offer such an arrangement was Great Britain in 1861
Countries that have this service in Africa include South Africa and Kenya
