Access to Financial Services in Kaduna State Deep Dive
EFINA
Enhancing Financial Innovation & Access
Lack of awareness, suitability and insurable assets are main barriers to
other formal non-bank financial services
1.5million adults are interested in using mobile money.
•
•
0.7million adults are interested in micro insurance
•
1.3million adults would be encouraged to use mobile money if they understand how it works
Awareness
Why no use of Mobile Money
(% of adults not using Mobile Money)
Why uninsured
(% of adults not insured)
no reason
38%
i have nothing to insure
85%
93%
III
15%
26%
don't know much what mobile money is
27%
no reason
24%
i use other ways to do the same
transactions
17%
haven't thought about it yet
14%
89%
don't know where/how to get mobile
money
9%
i do not know the benefits of having one
cannot afford to pay for insurance
13%
13%
i do not trust it
6%
i do not believe in insurance
11%
it is not easy to use
6%
i do not know where to go and get one
from
9%
it is expensive
4%
11%
other, specify
3%
Mobile Money
7%
Micropension
religious reasons/God will take care of it
do not trust insurance companies
they are cheats, they do not settle claims
6%
2%
1%
Microinsurance
services i need are not available 2%
■Yes ■ No
Source: EFINA Access to Financial Services in Kaduna State 2020 Survey
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