The Nigeria Postal Service (NIPOST) has said it will resume financial services nationwide and beyond after renewing its International Money Transfer Operator (IMTO) and Super‑Agent licences with the Central Bank of Nigeria and settling all outstanding fines.
Tola Odeyemi, postmaster general and chief executive officer, told Channels TV that the IMTO licence, which had been suspended for about eight years, was reinstated last year once penalties were paid, allowing NIPOST to restart both domestic agency banking and international remittance operations.
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Last year, NIPOST exceeded its N10 billion revenue target, “a scratch,” in Odeyemi’s words, by digitising processes and plugging operational leakages, far outstripping the benchmark it had set. Its management believes the new financial‑services lines and an aggressive e‑commerce strategy will dwarf that performance and unlock even greater returns for the organisation.
NIPOST has also begun signing bilateral agreements with neighbouring countries, including Togo, Benin and a couple of others, with one such pact currently under legal review to facilitate smoother remittances, particularly within Africa, where “sending money from Cameroon to Nigeria is harder than from the US.”
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The focus on African corridors reflects Nigerians’ acute challenges in intra‑continental payments. Beyond postal and financial services, NIPOST plans to deepen its integration with Nigeria’s fast‑growing e‑commerce sector through products such as PostMoni and wider use of the National Addressing System to drive financial inclusion and security.
Odeyemi suggested that if the Nigerian Police adopted this addressing framework, it could significantly improve crime prevention and emergency response.
