Financial Inclusion in Nigeria

Soetan, Taiwo O.; Mogaji, Emmanuel

Abstract

This chapter delves into the landscape of financial inclusion in Nigeria, examining the progress, challenges, and opportunities in expanding access to financial services. Despite significant strides, barriers such as lack of awareness, trust issues, and regulatory constraints persist, hindering full inclusion. The chapter explores key enablers, including the involvement of telecommunications companies in mobile money services and the expansion of agent banking networks. Moreover, it highlights the importance of tailored financial products and targeted awareness campaigns to address the specific needs of underserved populations, such as women, rural communities, and low-income earners. By fostering collaboration among stakeholders and leveraging innovative solutions, Nigeria can advance its financial inclusion agenda, promoting inclusive economic growth and empowerment across society.

Citation

Soetan, T. O., & Mogaji, E. (2024). Financial Inclusion in Nigeria. In Financial Services in Nigeria (189-211). Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-62340-0_7

• Online Publication Date: Aug 17, 2024
• Publication Date: 2024
• Deposit Date: Dec 18, 2024
• Pages: 189-211
• Series Title: Sustainable Development Goals Series
• Book Title: Financial Services in Nigeria
• ISBN: 9783031623394; 9783031623400
• DOI: https://doi.org/10.1007/978-3-031-62340-0_7
• Public URL: https://keele-repository.worktribe.com/output/1019513
• Publisher URL: https://link.springer.com/chapter/10.1007/978-3-031-62340-0_7
• Additional Information: First Online: 17 August 2024