The EFInA Access to Financial Services in Nigeria 2020 Survey shows that while more Nigerian adults are financially included, National Financial Inclusion Strategy targets were not met.
Nigeria has failed to meet the 70 per cent financial inclusion target set for 2020, as 86 million adults were negatively affected by the COVID-19 pandemic. This was disclosed yesterday at a webinar organised by Enhancing Financial Innovation and Access (EFInA). In the new report titled, “EFInA Access to Financial
For the first time, more than half of Nigerian adults are using formal (regulated) financial services, according to newly published data from EFInA (Enhancing Financial Innovation & Access). The EFInA Access to Financial Services in Nigeria 2020 Survey shows that 51% of Nigerian adults are using formal financial services, such as bank, microfinance bank, mobile […]
By Prince Okafor
Efforts by the Central Bank of Nigeria to drive financial inclusion across the nation is yielding result, as over 50 percent of Nigerian adults are using formal (regulated) financial services.
This was disclosed during Enhancing Financial Innovation and Access, EFInA’s, Access to Financial Services in Nigeria 2020 Survey launch, yesterday.
Vanguard gathered that this is the first time, more than half of Nigerian adults are using formal (regulated) financial services,
The survey shows that, while more Nigerian adults are financially included, National Financial Inclusion Strategy targets were not met.
The survey also indicated that growth in digital financial services and agent banking highlights opportunities to drive faster progress toward financial inclusion, particularly for excluded groups such as women, rural and Northern Nigerians.