The Nigeria Postal Service (NIPOST) is on the verge of making N200 billion annually from newly introduced products and services, especially from domestic money order.
The Post Master General, Barrister Bisi Adegbuyi, disclosed this on the sideline of a retreat for its top management in Abuja. According to Adegbuyi, Nigeria ought to have started making the money via the domestic money order since last year, but for the International Postal Union directive that Nigeria allowed it reconfigures the technology behind it in tandem with standard of the IPU.
The new domestic money order will open up opportunities for the unbanked people in the rural areas and other remote places to send and receive money easily.