Access to Financial Services in Kaduna State Deep Dive

EFINA Enhancing Financial Innovation & Access • Adults in Kaduna State use a combination of financial services to meet their needs Formally served adults use a combination of formal and informal mechanisms to manage their financial needs, indicating that their needs are not fully met by the formal sector alone Microfinance bank Commercial banks Non-interest banks Insurance companie Capital markets S Pension schemes or shares Banked 33% Formal other Remittance through other formal channels 19% Agents Savings club Informal 13% Microfinance institutions Remittance through transport service and recharge cards Cooperatives Esusu Ajo/ Money lenders Banked 16% 3% 11% 3% Informal Formal Other only 7% 1% 4% 55% Excluded population Source: EFINA Access to Financial Services in Kaduna State 2020 Survey 13

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