Nigeria FinTech Landscape - Impact Assessment

Nigeria FinTech Landscape - Impact Assessment Nigeria still faces a significant financial inclusion challenge Almost 40% of Nigerians are financially excluded... Size of banked and unbanked population in Nigeria Millions of people Financially excluded Formal other Banked ...and majority of the banked are also underbanked Share of services used by banked population % 2016 2018 Informal only 96.4 Remittances 99.6 Savings with a bank 36.6 40.1 Payments 12.1 14.6 9.4 8.9 Income receipt 8.4 10.0 36.9 39.5 Loans 2016 SOURCE: EfinA Access to Finance 2018 Report 1.3 24.2 22.4 27.7 21.0 1.3 9.7 Banking agents 2.6 3.3 2018 15.5 મી EFINA 20

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