The Minister of Communication and Digital Economy, Isa Pantami, says the Nigerian Postal Service (NIPOST) has been unbundled into about three subsidiaries to ensure effective operation and to make it more viable as a revenue generating agency of government.
Pantami disclosed this on Thursday at the Budget Defense Meeting of the Joint Senate and House of Representatives Committees on Communication, Telecommunications, and ICT and Cybercrimes.
The Minister told the Joint Committee that NIPOST has already been unbundled into Property and Development Company, Transport and Logistics, and Microfinance Bank.
Pantami also disclosed that the sum of N10 Billion will be invested in the new NIPOST to get it started.
However, the Joint Committee questioned the process of arriving at an unbundled NIPOST as well as the N10billion for funding it.