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Articles 1 - 15 of 15
Full-Text Articles in Social and Behavioral Sciences
Digital Financial Services And Financial Inclusion In Nigeria: Milestones And New Directions, Chioma G. Nkechika
Digital Financial Services And Financial Inclusion In Nigeria: Milestones And New Directions, Chioma G. Nkechika
Economic and Financial Review
Digital Financial Services are ushering in an age of financial innovation and convenience with technology as the driver. It aims at solving several needs of the public, helping the governments tackle newer problems and identify the potentials of new technology that may be conceived in a competitive landscape. The aim of financial inclusion is to bring as many unserved and underserved Nigerians into the formal financial sector. Thus, digital financial services are revealing gaps in the market that will allow the Federal government intervene and cater to more members of the public than ever, using technology.
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Bullion
Financial Technology is becoming paramount in all financial institutions, being utilized in helping companies manage most of their financial operations efficiently through the use of software and specialized algorithms. The future of finance will shine brightest when it provides standard and valuable services to the society, however this will come with its own merits and demerits. I have prepared this report to carry out a detailed discussion on the impact that the AML/CFT controls have on FinTech and the financial inclusion initiative in sub-Saharan Africa. The AML/CFT controls can be applied more effectively in the formal systems for banking and …
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Bullion
This study investigates the relationship between financial deepening and socioeconomic development in Nigeria. The specific objectives examined the impacts of broad money supply, private sector credit and financial openness on human development index in Nigeria from 1991 to 2018. Time series data on each of the variables were analyzed using Fully Modified Least Squares and Granger Causality test. The unit root test results revealed that all the variables in the model became stationary after first difference and are all I (1). The cointegration test result revealed that the variables had long run relationships. The cointegrating regression result indicated that broad …
Financial Inclusion And People Living With Disabilities (Plwds) In Nigeria: A Disaggregated Analysis, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi, Odigie Joseph Ndidi
Financial Inclusion And People Living With Disabilities (Plwds) In Nigeria: A Disaggregated Analysis, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi, Odigie Joseph Ndidi
Bullion
This study investigated the level of financial inclusion and people living with disabilities (PLWDS) in Nigeria. The disaggregated analysis was employed in investigating the level of financial inclusion of PLWDs across the geopolitical zones in Nigeria. The instrument used to collect data was titled: Financial Inclusion of People living with Disability Survey Inventory (FIPWIDSI). The construct validity of the instrument was ensured using the Principal Component Analysis (PCA).The internal consistency was verified using Cronbach's alpha technique. Descriptive and influential statistics, Mean and standard deviation, Analysis of Variance (ANOVA) and Sidak multiple mean comparison Post Hoc test were employed for data …
Can Islamic Banking And Finance Spur Financial Inclusion? Evidence From Sub-Saharan Africa, Musa Abdu, Adamu Jibir, Salihu Abdullahi, Aliyu A. Rabi'u
Can Islamic Banking And Finance Spur Financial Inclusion? Evidence From Sub-Saharan Africa, Musa Abdu, Adamu Jibir, Salihu Abdullahi, Aliyu A. Rabi'u
CBN Journal of Applied Statistics (JAS)
This study examined the effect of introduction of Islamic banking and finance on financial inclusion in Sub-Sahara Africa (SSA). To achieve this objective, the study applied Probit, Tobit and Juhn-Murphy-Pierce decomposition to estimate model of financial inclusion. The study used World Bank’s Global Financial inclusion index (Global Findex) dataset of 2015. The findings revealed that the introduction of Islamic banking and finance system in some Organization of Islamic Cooperation (OIC) countries in SSA enhanced financial inclusion in the sub-region. The study also uncovers that households from OIC with Islamic banking and finance are more likely to be financially included than …
Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi
Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi
Bullion
In Nigeria, 67% of the population lives below the poverty line. Access to basic financial services can make a significant difference in reducing poverty and financial technology has been used to enhance the provision of financial services to the poor and unbanked in sub-Saharan Africa. This paper seeks to highlight the nexus between financial inclusion and financial technology as well as how it can help reduce poverty in Nigeria.
Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere
Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere
Bullion
Financial inclusion suggests an innovative concept which helps to achieve sustainable development, by making available financial services to the unbanked and underbanked with the help of financial institutions. The concept of financial inclusion gained popularity from year 2000. Thus, it is a great weapon to overcomes financial backwardness. This paper attempts to assess the current status of financial inclusion by examining recent policies and developments toward achieving financial inclusion in Nigeria. Specifically, the framework aimed at enhancing financial inclusion in Nigeria while also supporting the growth and stability of the financial sector, including policies around microfinance, mobile payment, KYC, electronic …
Financial Inclusion Initiatives And National Economic Development, Paul N. Eluhaiwe
Financial Inclusion Initiatives And National Economic Development, Paul N. Eluhaiwe
Bullion
The paper present a clear understanding of the term financial inclusion, its role in economic development, measures being adopted to forge financial inclusion by selected countries and the attempt being made by Nigerian to follow suit. Section two of this paper gives an overview of the concept financial inclusion, section three highlights the difference between financial inclusion and economic development. Section four presents country experiences on financial inclusion followed by highlights of the current state of financial inclusion in Nigeria.
Financial Inclusion In Nigeria: Measurements And Lessons, David Olu Ajakaiye, Afolabi Olowookere
Financial Inclusion In Nigeria: Measurements And Lessons, David Olu Ajakaiye, Afolabi Olowookere
Bullion
The operations of financial systems are crucial to people’s savings, credit, payment and risk management needs. More importantly, the inclusiveness of this system tends to benefit the poor and other disadvantaged groups in the society (Demirguckunt and Klapper, 2012). In the definition of the Centre for Financial Inclusion, “Full Financial Inclusion is a state in which all people who can use them have access to a suite of quality financial services, provided at affordable prices, in a convenient manner, and with dignity for the client” (Gardeva and Rynne, 2011). This entails building a financial system that serves as many people …
Viable Agent Banking And Mobile Payment System In Nigeria, Fatokun Dipo
Viable Agent Banking And Mobile Payment System In Nigeria, Fatokun Dipo
Bullion
Agent banking and Mobile payments, especially in developing economies are rapidly evolving and having tremendous impact on the economies and lives of its citizenry. In addition to reducing costs, these new service offering channel help to encourage customers to use financial services more often, as locations are close by and in places where the customers are familiar with. In light of the afore-mentioned, the Central Bank of Nigeria noted the rapid growth of mobile telephony and the need to leverage existing business network infrastructure as a practical and well thought-out strategy for driving financial inclusion of the unbanked in Nigeria.
The Role Of Financial Literacy And Consumer Protection In Fostering Financial Inclusion, Dutse Umma
The Role Of Financial Literacy And Consumer Protection In Fostering Financial Inclusion, Dutse Umma
Bullion
The objective of this paper is to establish the link on how financial consumer protection efforts and financial literacy initiatives help bring people on board the formal financial system. Among the key mandate of the Central Bank of Nigeria (CBN) is the promotion of a sound financial system, while a stable financial system cannot be easily captured in a few words, the attributes that could be demonstrated in a system that is described as financially stable will include public confidence and trust in the institutional framework. Financial stability, therefore, serves to instill confidence in users of financial services. It encourages …
Communicating Financial Inclusion Policy In Nigeria: The Role Of The Media, Frank Aigbogun
Communicating Financial Inclusion Policy In Nigeria: The Role Of The Media, Frank Aigbogun
Bullion
The Central Bank of Nigeria (CBN) has shown great foresight in the effort to ensure that greater numbers of Nigerians that are currently financially excluded are brought into the fold, through effective policy initiatives that are hinged on global best practices. For instance, in 2012 the Bank incorporated information and knowledge that will eventually lead to the formulation to amend existing regulatory frameworks, including recommendations on microfinance, mobile financial services (MFS) and agent banking. The CBN’s aim of educating and imparting skills on financial system inclusion to journalists who through their media would inform the general public about this all-important …
A Pro-Poor Framework For Enhancing Micro-Savings In Nigeria., M. C. Ononugbo, C. P. Nwosu
A Pro-Poor Framework For Enhancing Micro-Savings In Nigeria., M. C. Ononugbo, C. P. Nwosu
Bullion
Nigerians generally do not seem to have what is usually referred to as “the saving culture”. This assertion may not entirely be true as it based on information from the formal banking system without recourse to the savings activities at the informal sector of the economy. It is a fact that the informal sector of the economy is large with unrecorded transactions. Consequently, this paper attempts to examine the fundamental issues in saving and thereafter design a formal savings habit of the populace, especially the low-income group. The framework is designed to mobilise micro-savings, hitherto kept with thrift collectors and …
Access To Credit: The Case For Rural Women., E. B. I. Oladunni
Access To Credit: The Case For Rural Women., E. B. I. Oladunni
Bullion
The alleviation of poverty has generally been the cornerstone of economic policy in Nigeria. Past policies have been pursued with the sole objective of improving the living standards of the people through enhanced income and generation of employment opportunities. Despite all machineries put in place, most of the women folk have not benefited because of some endemic socio-cultural problems affecting the women. This paper highlights the need for credit, conditions for attracting credit especially for rural women and the policies that can provide the right atmosphere for access to credit by rural women for sustainable development.
The People's Bank Of Nigeria: Review And Update, J. A. Babalola
The People's Bank Of Nigeria: Review And Update, J. A. Babalola
Bullion
The paper reviews the establishment of the People's Bank in Nigeria. The paper is divided into five sections, Section one gives background to the establishment of the People's Bonk in Nigeria, section two discusses the concept and operational features of the Bank, section three appraises the operations, section four looks at the likely problems the Bank may face, while Section five discuses the prospects and conclude the Paper.