Access to Financial Services in Kaduna State Deep Dive
EFINA
Enhancing Financial Innovation & Access
Key Take-Aways
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A third of adults in Kaduna State use banks to manage some of their financial needs
Lack of access to banks is a frequently-cited barrier to banking among unbanked adults in Kaduna State.
However, initial use of agents indicates promise for further expanding access through channels, such as agent
networks, that do not require bank infrastructure
Low/irregular income, unemployment, and cost of banking are also cited as barriers to banking
Relatively high rates of mobile phone ownership in Kaduna State, even among excluded groups, present an
opportunity for expanding financial inclusion via affordable, relevant digital financial services. With more product
knowledge, about one-third of adults say they would be interested in using mobile money
At least 3 in 5 adults are neither saving, borrowing, nor remitting money through formal or informal channels -
how are they coping?
Source: EFINA Access to Financial Services in Kaduna State 2020 Survey 32View entire presentation