NIPOST Reintroduces Money Order, Begins Electronic Mail Tracking

The Nigerian Postal Service on Monday announced a series of products and projects aimed at reviving the postal system and increasing the organisation’s patronage, according to Punch Newspapers.

One of the new products announced by the Postmaster General of the Federation, Mr. Bisi Adegbuyi, at the celebration of the 2017 World Postal Day in Abuja was the money order.

The money order is an old product of the postal system that enables customers to send money to their loved ones using the post offices scattered across the country.

The product, which had been moribund for many years, has now been brought back in an electronic format.

Adegbuyi said the need for financial inclusion was the reason for the reformulation of the product.

He explained that with the spread of NIPOST across the country, the organisation was in the best position to advance the course of financial inclusion of the majority of Nigerians, especially rural dwellers.

Adegbuyi stated, “This product launch today reaffirms our stance to adopt the multi-activity business model with operations in banking, insurance, real estate and e-Commerce. This effort requires strong collaboration with the private sector whose investment capital and expertise cannot be overemphasised.

“This model is what this year’s global top three in the postal industry (Switzerland, France and Japan) and the regional champions (Brazil, Mauritius, Poland, Singapore and UAE) have adopted. Some other African countries like Morocco and Tunisia have already joined the league.”

He added, “We are indeed getting back on track as we are reinventing ourselves, embracing digitisation, redefining our value proposition and developing new products and services. In this regard, we require the strong political support that we are already getting from the Federal Government. I can assure you that in no distant future we shall be number one on the African chart.

“There is much to be gained from this transformation: more satisfied customers, stronger postal market and network. As we strive to meet the United Nation’s Sustainable Development Goals, we should not forget that the postal infrastructure is an enabler of inclusive development and a key platform for delivering public services pivotal to the attainment of the SDGs.”

NIPOST also announced the introduction of tract and trace, an app that will enable its customers to trace and track the position of mails posted from outside the country at each point in time.

On the controversial stamp duty on electronic transactions, NIPOST announced that it had developed an electronic stamping system that would enable it to affix stamps on any electronic transaction in order to authenticate the deal.

Another service, which the organisation says will be hitting the market soon, is the Address Verification System. The app, which will be available on the NIPOST portal, will enable anybody to verify any address anywhere in the country within a period of 48 hours.

Speaking at the event, the Minister of Communications, Mr. Adebayo Shittu, expressed confidence in the leadership of NIPOST and gave indication that the organisation would also leverage its vast estate and vehicles to offer real estate and transportation solutions to Nigerians.
-Source