Access to Financial Services in Kaduna State Deep Dive
EFINA 78% of the adult population experienced an episode of liquidity distress in the
past 12 months
Enhancing Financial Innovation & Access
About half of distressed adults merely did nothing or readjusted their expenses to manage liquidity.
Significant portion of distressed adults rely on physical and social mechanisms to cope
Liquidity distress (% of adults)
22%
% of distressed adults
did nothing specific (waited, prayed)
cut down on other expenses
savings from bank or other financial institution
informal financial institution 1
19
7
32
8%
sold asset(s)
13
borrowed from family/friends
13
70%
42% used physical and
received gifts/donations from friends/family
social mechanisms
12
bought goods on credit
2
Severe distress
Some distress
No distress
other
2
borrowed from formal and/or informal financial
institution
1
Liquidity distress is defined as being unable to balance income and expenses.
Severe - more than one month, some distress - once in the past year
Source: EFINA Access to Financial Services in Kaduna State 2020 Survey
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