23rd July 2024
Business & Economy National News News

Abandoned Post Offices in LGs to become CBN Micro Finance Banks – Postmaster Gen.

Abandoned Post Offices in LGs to become CBN Micro Finance Banks – Postmaster Gen.

 

The Post Master General of the Nigerian Postal Services, (NIPOST), Bisi Adegbuyi has hinted on moves to convert abandoned buildings of the organization in the 774 Local Governments in Nigeria to Central Bank of Nigeria (CBN), micro finance outlets.

Adegbuyi disclosed this while addressing lawmakers at the on-going investigative hearing at the House of Representatives over Abandoned Communications Projects since 1999 in Abuja at the weekend.

The PMG who was represented by his General Manager, Toyin Oyelola said “Nipost has just one abandoned project worth N800million and it is for the completion of NIPOST Corporate Headquarters and extent of project is 28% so far.

Oyelola also explained that NIPOST currently has 44 out of 162 formally abandoned projects across the country but have now been chosen for the CBN Micro finance projects under the Financial inclusion policy of the CBN and its micro Finance company.

“It is a PPP arrangement which is converting all NIPOST supposedly abandoned projects to ongoing ones since they were all chosen to meet the expectations of the CBN Financial inclusion policy.

“And NIPOST abandoned buildings covers all the 774 local government areas of the country hence was used as major driver for the project to meet the needs of Nigerians”, the NIPOST official said.

Also grilled at the investigative hearing are officials from the Nigerian Communications Satellite (NigComsat), the Galaxy Backbone, as well as the Nigeria Information Technology Development Agency (NITDA) for various abandoned projects in their agencies despite yearly budgetary allocations to that effect.

– Sunday Independent

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