International records / OpenAlex research

Financial Inclusion and Access to Finance in Nigeria

Financial inclusion in Nigeria is a significant issue, with over 1 in 3 Nigerian adults financially excluded from formal financial services such as payment, savings, and credit. The Central Bank of Nigeria has set ambitious targets to increase access to financial services: payment services from 21.6% in 2010 to 70% by 2020, savings from 24% to 60%, credit from 2% to 40%, insurance from 1% to 40%, and pensions from 5% to 40%. Financial inclusion aims to ensure that financial services are accessible to all, promoting economic growth and reducing poverty. Affordable financial products and service…