Access to Financial Services in Kaduna State Deep Dive
EFINA
Enhancing Financial Innovation & Access
Banking: Lack of access, irregular incomes, and perceptions of banking
are leading barriers to banking for adults in Kaduna State
Reasons for not having bank account (%)
Income not regular
36%
Banks are too far from where I live/work
No job
22%
21%
No reason
19%
It costs too much to reach a bank
16%
Prefer cash
12%
Too much documentation involved/required
It is expensive to have a bank account
6%
Barriers
Net %
6%
Access to banks
38%
Can't read or write
5%
No identity document
Attitudes/perceptions
36%
5%
Charges and fees are too high (e.g. monthly maintenance fee)
4%
Llittle/irregular income
36%
Lack of trust
3%
Unemployment
21%
Must keep a minimum balance in the bank
3%
Product knowledge/usability
16%
Interest earned on deposits is low
2%
Cost of banking
14%
Used to have a bank account, but closed it due to bad experience
2%
Other
2%
Interest on loans too high
1%
Too much corruption (e.g. bribes)
0%
Source: EFINA Access to Financial Services in Kaduna State 2020 Survey
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