The Nigeria Postal Services, (NIPOST) may start offering banking services if the proposal of the Communications Minister, Mr Adebayo Shittu to President Muhammadu Buhari is approved.

The Minister has revealed that the Presidentís approval is being sought to establish a NIPOST bank, positioned to serve millions of Nigerians in the rural areas.

If President Buhari agrees, the new NIPOST bank may become Nigeriaís largest bank by branch network with 1,500 postal agencies across the country serving as financial services outposts.

The Minister said that President Buhari has asked the Attorney-General to look into the proposal to set up NIPOST bank, similar to the Japanís Postbank, offering people-based financial services like bureau de change alongside postal services.