NIPOST, Capital Market Registrars Forge Stronger Corporate Relationship

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By Oluchi Chibuzor

The top echelon of the Nigerian Postal Services (NIPOST) recently met with the leadership of the Institute of Capital Market Registrars towards seeking stronger ties for corporate mutual benefits.

The meeting, held in Lagos, recently, sought to rejuvenate the existing relationship especially in line with the challenges posed by technology to logistics operations across the world.

Speaking at the event in Lagos, Postmaster General of the Federation and Chief Executive Officer, NIPOST, Dr. Ismail Adebayo Adewusi, said the meeting became germane in view of the need to breath more life into the utilisation of the NIPOST services by the capital market registrars.

Adewusi noted that there has been a decline in recent times, in the volume of documents from the capital market registrars adding that NIPOST remains the best option for the despatch of relevant documents generated by the capital market.

He said: “There has been generally a decline in the volume of mails below expectations and with the advent of technology for ease of business, coupled with Government policies, the decline in the quantity of Capital Market mails is not unexpected.

“It is therefore, pertinent to state that the few mails generated through this Market, should be treated with utmost care in order to remain competitive and relevant in the market.”

A statement quoted the NIPOST boss to have said his organisation was more interested in knowing the reason for the decline, noting that all issues involved were to be sorted for continued mutual benefits.

He added: “The Nigerian Postal Service is reaching out to her Corporate Customers and partners to re-assure them of our commitment to providing quality and affordable service delivery.

“We are here to engage with you to know what you want, how you want them and when you want them. Our responsibility is to serve you and your clients in order to reduce the cost of doing business.”

Adewusi said the capital market registrars had in the past contributed immensely to the revenue generation capacity of NIPOST.

Responding on behalf of the Institute of Capital Market Registrars, its President/Chairman of Council of Institute of Capital Market Registrars, Mr. Seyi Owoturo, said the decline in the volumes of business from the capital market registrars is partly due to the impact of coronavirus saying the companies themselves have not found things easy since the disruption in the economic activities across the land.

Owoturo, who was represented by Mrs. Catherine Nwosu, said, “NIPOST and the capital market registrars are like fish and water. We cannot deny ourselves. But then, covid-19 came and disrupted everything. And then you also have the impact of technology which has also affected the way business is carried out.”

Owoturo said the companies themselves are not finding things, noting that the impact of covid-19 and the advent of new technology had combined to change the ways things are done globally.

“There was a time the only means of delivering documents was by NIPOST. But today, due to technology, people now use other means of delivering documents not even minding the risks of attendant losses,” he said.

Others who spoke at the meeting agreed that there was a need for both parties to set up a committee to work out an agreement on the new way forward.

They said this would ensure that in line with the new realities of technology and the society, both NIPOST and capital market registrar continue to be in business.

The NIPOST boss, in his closing remarks, assured that his organisation is already deep in its innovative diversifications adding that the NIPOST will not continue to rely on the old ways of doing business which he said are already going out of fashion.

The General Manager, NIPOST BulkPost, Mr. Johnson Olakunle, while welcoming participants at the meeting, said the last time a Postmaster General of NIPOST attended a meeting with the registrars was in 2001.

He thanked Adewusi for giving credence to the seriousness of NIPOST relationship with its stakeholders by leading his team to the meeting.
At the meeting were officials of many capital market registrars and management staff of NIPOST.