FINANCIAL INCLUSION

This study examined financial inclusion and welfare outcomes among rural women in the Edo North Agricultural Zone of Edo State, Nigeria. The specific objectives were to describe the socio- economic characteristics of respondents; assess their awareness, access, and utilization of financial services; evaluate their welfare status; and identify structural, institutional, and socio-cultural barriers affecting financial inclusion. A three-stage sampling procedure was used to select 180 women for the study. Data were analyzed using descriptive and inferential statistics at the 5% level of significance. Results showed that respondents’ mean age was 46 years, with an average household size of five persons, nine years of formal education, and a mean monthly income of ₦64,298.83. The religious distribution revealed that 48.9% were Christians and 46.7% were Muslims, while 36.8% engaged in farming and 33.5% in trading as major occupations. More than half of the respondents demonstrated high levels of awareness (62.1%) and access (55.5%) to financial services, and exactly half (50%) exhibited a high level of financial service utilization. Garrett’s ranking indicated that ir regular income (structural), distance to financial institutions (institutional), and lack of trust in financial institutions (socio-cultural) were the most severe constraints to inclusion. The Household Food Insecurity Access Scale (HFIAS) revealed that 46.2% of respondents were severely food insecure. Multiple linear regression analysis identified four statistically significant predictors of welfare at the 5% level: age (β = 0.106, p = 0.038) showed a positive relationship with welfare (implying that food insecurity increases as respondents grow older), while awareness (β = –0.8213, p = 0.002), access (β = –0.6944, p = 0.018), and utilization (β = –0.4160, p = 0.001) had a negative relationship (suggesting that food insecurity decreases with higher levels of financial Inclusion)

This study investigates the relationship between financial inclusion and economic growth in Nigeria for the period 2000 to 2024. Financial inclusion was measured using the number of bank branches per 100,000 adults, automated teller machines (ATMs) per 100,000 adults, borrowers from commercial banks per 1,000 adults, and current account holders per 1,000 adults, while economic growth was proxied by the real gross domestic product (RGDP) growth rate. The study relied on secondary data obtained from credible sources, including the Central Bank of Nigeria, Nigeria Inter-Bank Settlement System, and World Bank Development Indicators. Data were analyzed using descriptive statistics, correlation analysis, panel unit root tests, Johansen Fisher Panel Cointegration Test, and Panel Fully Modified Least Squares (FMOLS) regression. The results indicate that the number of bank branches and bank borrowers have a significant positive impact on economic growth, whereas ATMs and current account holders exhibit a significant negative effect. These findings suggest that while expanding physical banking infrastructure and credit access support economic growth, digital banking access and current account proliferation may not automatically translate into growth unless accompanied by targeted financial inclusion strategies. The study concludes that effective policy interventions are required to optimize the benefits of financial inclusion and recommends the strategic deployment of banking resources, particularly to underserved populations, to enhance Nigeria’s economic performance.

This study sought to examine financial consumer protection, financial inclusion and efficiency of financial markets. The study utilised the descriptive survey research design. The study adopted the simple random sampling technique which allows all units in the population to have an equal chance of being selected. This implies that the r searcher will randomly distribute questionnaires to three hundred and eighty-five (385) respondents who are POS service providers, customers of POS services, as well as other financial consumers in Benin City, Edo state. It revealed that: that financial consumer protection has significant effect on financial market efficiency, the regression analysis revealed that financial consumer protection has significant effect on financial access and the result indicates that financial consumer protection has significant effect on financial inclusion in Nigeria. Based on this findings it was recommended that: it is crucial for policymakers and financial institutions to enhance consumer protection mechanisms, Policymakers should work with financial institutions to develop and promote products and services that cater to the needs of low-income individuals and those in remote areas and Policymakers and regulatory bodies should regularly assess the effectiveness of existing policies and make necessary adjustments based on evolving market dynamics and consumer needs.