Over 45% of women in LIC without a national ID
Although, the country is not alone in this category, the requirements for Know Your Customer (KYC) in Nigeria employed by organisations and government institutions are said to be tough. x
According to a report titled: “Payment system design and the financial inclusion gender gap,” prepared by Caribou Digital in collaboration with DFS Lab, Caribou Data, and funded by the Bill and Melinda Gates Foundation, it noted that the gender gap in financial inclusion is stubborn.
The report said between 2011 and 2017, the world saw strong progress, which brought 1.2 billion people into the global financial system for the first time. But, the gap between the proportion of men and women, who had an account with a financial institution in low- and middle-income markets stayed stuck at nine percentage points.