Leading mobile payments company Paga already covers Nigeria than all the Nigerian banks combined but it is spreading its tentacles further across the country through a partnership with the Nigerian Postal Service (NIPOST).
The partnership will see NIPOST offices across the country turned into robust financial services centres, providing financial services to virtually all Nigerians.
Consumers will now be able to deposit and withdraw funds from bank accounts and mobile money wallets, pay utility bills, and purchase airtime recharge for all telecom networks at post offices in their communities.
“Our work with NIPOST is simply one of several big steps that we are leading the industry in taking, to bring financial services to all communities in Nigeria. The rollout has been on-going since the beginning of 2016, and we are very encouraged by the outcomes so far,” said Jay Alabraba, Paga co-founder and director of business development.
General Manager Financial Service, NIPOST, Mr. B.M Mukhtar added, “There is a post office location within reasonable distance of almost every community in the country today, so we see an opportunity for NIPOST to play a leading role in enhancing financial inclusion for the betterment of Nigeria.”
At the moment, 49 NIPOST offices in several states across the country – 23 in Lagos; 16 in Abuja; 8 in Rivers ; and one each in Bayelsa & Bauchi – are already offering the Paga services. More post offices, and services including savings and loans products, will be added as time goes on.
The partnership is in line with Paga’s shared goal of driving deeper financial inclusion in Nigeria, and is done on the back of the Central Bank of Nigeria approved Shared Agent Network framework.
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