The Rising Gender Gap in Financial Services Threatens Nigeria’s Financial Inclusion Target
By Aderemi Ojekunle
Nigeria still faces a significant and growing gender gap in financial inclusion as a result of huge differences between men and women in education, income, and trust in financial service providers.
This is the outcome of new research on women’s financial inclusion jointly conducted by the Central Bank of Nigeria’s Financial Inclusion Secretariat and Enhancing Financial Innovation & Access (EFInA).
The report seen by Business Insider SSA found that levels of income, education, and trust in financial service providers are strongly associated with financial inclusion in Nigeria, for both men and women.
It also states that women in Nigeria tend to have lower levels of income, education, and trust in financial service providers, and this contributes strongly to the financial inclusion gender gap.
Photo courtesy of Commonwealth Secretariat.