Report: Nigeria lagging behind in financial inclusion, mobile money

Tuesday, June 5, 2018

The International Finance Corporation has said Nigeria is lagging behind its peers in sub-Saharan Africa in terms of financial inclusion and mobile money.

In a report, titled ‘Digital Access: The Future of Financial Inclusion in Africa’, it said the number of financially excluded people in Nigeria increased by 2.1per cent in 2017 to 40.1 million.

The IFC noted that the country’s underperformance was related to the modest growth in mobile money.

Source: Punch (link opens in a new window)

financial inclusion, fintech, mobile finance