etTranzact says it will ensure that the unbanked population
of Nigeria is reduced to 10 percent in the country through the exploration of
Network of the Nigerian Postal Services.
The e-payment solution provider stated this while responding
to an enquiry on why it abandoned its 2008 agreement with NIPOST to drive the
growth of mobile money services and subsequently reduce Nigeria’s unbanked
population.
Results from a total demographic study carried out by the
Enhancing Financial Innovation and Access showed that from a sample of 93.5
million Nigerian adults, only 33.9 million people are banked – while the
unbanked are 59.6 million.
However, eTransact’s Chief Executive Officer, Mr. Valentine
Obi, said that the network of postal outlets operated by NIPOST constituted the
most widespread retail network in the country to boost financial inclusion,
“especially in reducing the unbanked population to about 10 per cent (about 5.9
million).”
The Minister of Communications, Mr. Adebayo Shittu, had
earlier stated that the postal financial services should also be delivered in
partnership with banks, telecoms companies and other Information Technology
companies.
He said that the Federal Government was working to leverage
NIPOST to drive financial inclusion in the country, saying that the government
would select transaction advisor and select partners in the scheme.
The minister said that mobile money, mostly used to buy
airtime, had the potential to serve as a platform for drawing more people into
formal financial services.
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