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National Post Bank Underway – FG

ITU Telecom
Posted: Nov 21, 2016 at 3:45 am   /   by   /   comments (0)

A new bank, to be known as National Post Bank, that will operate mostly in the rural areas will soon be established by the federal government.

The bank would cater for numerous unbanked populations in the rural areas. The plan to introduce the bank was made known by the Minister of Communications, Adebayo Shittu, in Bangkok, Thailand, while addressing Nigerians and prospective foreign investors in the Nigerian Pavilion.

The post bank would use facilities of the Nigerian Postal Service (NIPOST) spread across the country, he said.

Shittu said that the federal government would grant tax holiday to would-be investors in Nigeria, pointing out that the country aimed to reduce its current worrisome level of unemployment.

Nigerian Ambassador to the Thailand, AbdulKabir Bala, told the Nigerian audience at the event that president Buhari had ordered the country’s ambassadors to woo investors to Nigeria, saying:  “Our president has given us, the ambassadors, a marching order to get investors to invest in the two critical sectors of agriculture and solid minerals. But I will add telecom sector for myself.

“You should know what it means when a president gives order to an ambassador to get things done for his country. The envoy must do it or else…”

He said that Nigerian officials were working to get the country out of its economic recession, adding that their efforts would soon yield fruits.

He described the Nigerian telecom sector as one of the toasts of investors across the world because of the positive results operators in the sector used to post.