The EFInA Podcast

As Nigeria deepens its push for financial inclusion, POS terminals and agent banking have become critical lifelines for last-mile communities. But with rising transaction and operational costs, fraud risks, liquidity struggles, poor connectivity and frequent service downtimes, can we collectively unlock broader financial access, resilience and trust? In this episode of The EFInA Podcast, host Immanuel Umukoro (Policy and DFS Advocacy Manager,

Open Banking is here, but what does it really mean for everyday Nigerians? In this episode, we sit with Mr. Adedeji Olowe, Trustee of Open Banking Nigeria, to demystify the concept. We explore how secure data sharing can unlock safer, more personalised financial services, foster transparency, and drive financial inclusion for millions who remain underserved. With Nigeria leading the way as the first African country to establish a regulatory

According to EFInA’s 2023 Access to Financial Services in Nigeria Survey (A2F) Report, negative perceptions, informed by bad experiences and fraud, have been a significant deterrent to formal financial inclusion, leading to a lack of trust in financial institutions and restraint in engaging with formal banking systems.This lack of trust has significant implications for Nigeria’s digital economy, where the success of digital financial services

Quick Fact: 26% of Nigerians remain financially excluded, many of whom are women, youth, and people in rural communities, who form the largest segment of last-mile consumers.Why it is important: Digital innovation in Digital financial services (DFS) has significantly reduced financial exclusion and can bridge gaps in access to essential services. However, low digital literacy, limited technology access, and security concerns hinder adoption

Quick Fact: 26% of Nigerians remain financially excluded, many of whom are women, youth, and people in rural communities, who form the largest segment of last-mile consumers.Why it is important: Digital innovation in Digital financial services (DFS) has significantly reduced financial exclusion and can bridge gaps in access to essential services. However, low digital literacy, limited technology access, and security concerns hinder adoption

Quick Fact: Between 2020 and 2023, financial inclusion in Nigeria moved from 68% to 74%. However, many are still excluded from formal financial services, an estimated 40.3 million Nigerian adults.Why it is important: To achieve last-mile financial inclusion, it is crucial to understand the causes of continued exclusion, and to fashion responsive policies and regulations, interventions, and financial services, that meet the excluded where they