Financial Inclusion in Nigeria: Are Women Disadvantaged?

Kenneth Sola ADEYEMI, Biliqees Ayoola ABDULMUMIN

Abstract

Financial inclusion is important for redistribution of economic resources. Despite the plausible effect of financial inclusion on the economy, financial institutions have failed to provide financial services to a certain group of people who are mostly women. Against this background, the study investigates whether there exist financial inclusion gap between male and female in Nigeria. This study uses secondary data from the World Bank Global Financial Inclusion database. Data obtained were analyzed using Principal Component Analysis (PCA). The findings show that that male are more financial included in the first two periods but the situation changed in the final period with female being more financially included than their male counterpart. This study concludes that different financial inclusion policies focused on women have resulted in the increase in their level of financial inclusion in recent time. Therefore, it is recommended that gender-focused policies should be concentrated in order to continuously bridge the gender gap.

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