Fidelity Bank launches agency banking partnership with NIPOST

Fidelity Bank and NIPOST in partnership

THE Deputy Managing Director (DMD), Fidelity Bank Plc, Mohammed Balarabe says the bank will provide banking services in 266 branches through its Agency Banking Partnership with Nigeria Postal Services (NIPOST) towards deepening financial inclusion in the country.

The DMD, disclosed this Thursday, in Abuja, at the official launch of the Agency Banking Partnership with the, NIPOST. 

He said Fidelity Bank will be leveraging on the 1,400 locations of NIPOST to provide banking services to many financially excluded Nigerians.

He noted that the partnership with NIPOST will lead to more development across the country through access to financial services provided by Fidelity Bank. He appealed to Nigerians to take advantage of the opportunity.

The Divisional Head, Retail Bank, Richard Madiebo had told customers of the bank and non customers alike, to embrace the initiative as it promises a win-win for all and would guarantee more people being captured in the financial inclusion strategy.

Madiebo said the Agency Banking Partnership was a pacesetting effort of Fidelity Bank at providing financial services at the grassroots level to all categories of small and medium enterprises.

The Post Master General (PMG) of the Federation, Bisi Adegbuyi said the initiative would give NIPOST an opportunity to offer financial services to all Nigerians through its network of locations across the country.

L – R: Head Digital Financial Services, Central Bank of Nigeria (CBN), Mr Stephen Ambore; MD, Threeline Ltd, Mr. Femi Omogbenugu; DMD, Fidelity Bank Plc,  Mohammed Balarabe; PMG /CEO, NIPOST , Mr Bisi Adegbuyi; Head Northern Directorate,  Fidelity Bank,  Hassan Imam, and  GM, Financial Service Business Unit, NIPOST, Muktar Babaduring the launch of bank@post; a TSA/Agent Banking initiative between NIPOST and Fidelity Bank in Abuja odn Thursday

Adegbuyi noted that globalisation coupled with growth in e-commerce has forced many postal administrations to explore ways of expanding their frontiers through collaboration with relevant stakeholders in order to meet the emerging challenges in the communications sector.

According to him, the partnership with Fidelity Bank was part of their ways of re-engineering and reinventing NIPOST through collaborations with different stakeholders from the private and public sectors, while also leveraging on cutting edge technology to present an array of digital offerings aimed at meeting the divergent needs of their customers

Head of Digital Financial Services, Central Bank of Nigeria (CBN), Steven Ambore said innovative products like the Agency Banking Partnership will help to achieve the 80 per cent financial inclusion target by 2020 set by the CBN.

He pointed out that the revised national financial inclusion strategy was designed to leverage on technology to ensure the reduction in the 36.6m Nigerians without access to financial services and was therefore impressed with what Fidelity was doing with the launch of the Agency Banking Partnership.


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