“An estimated seven million financially underserved individuals do not own bank accounts, but enjoy limited financial services through informal arrangements such as cooperatives, esusu, among others. It follows therefore, that only about 42 million (42 per cent) of the estimated 100 million adult Nigerians enjoy some form of financial inclusion. According to her, active involvement and contributions of various stakeholders remain a prerequisite for the advancement of financial inclusion and nation’s economic growth. According to her, an inclusive financial sector is characterised by the diversity of financial services, the legal and regulatory environments that ensure the integrity of the financial sector and access to financial services for all. Furthermore,The EFInA Access to Financial Services in Nigeria 2012 survey revealed that 23.0 million adults save at home.

Source: The Guardian February 04, 2019 03:45 UTC