Digital Financial Services

This study examined the relationship between digital financial services and financial inclusion in Nigeria. The study, anchored on the vulnerable group theory, adopted the ex-post facto research design hence data were collected from secondary sources. Data for the study were obtained from the Statistical Bulletin of Central Bank of Nigeria for the period of 2010- 2023. The Ordinary Least Square (OLS) was used to run the regression analysis after carrying out several diagnostic checks such as variance inflation factor, cointegration tests, and unit root tests. Findings of the study showed that agency banking, Automated Teller Machine transactions, and mobile banking have a significant positive relationship with financial inclusion in Nigeria. The study also established a negative but not significant relationship between web payments, unstructured supplementary service data (USSD) transactions and financial inclusion in Nigeria. The study concluded that digital financial services positively contributed to the level of financial inclusion in Nigeria. The study recommends amongst others that banks should increase the Automated Teller Machine points to reach out to the interior villages and rural areas that are excluded from the financial services