The Role of Agent Banking in Promoting Financial Inclusion in Nigeria

Abstract :

Financial inclusion is aimed at ensuring that all adults have unhindered access to tailor-made products that meets their financial needs at affordable cost within their vicinity.  This study investigated the extent to which bank agents have contributed in driving the inclusive growth agenda of the Federal Government of Nigeria. A maximum of 275 questionnaires were administered on bank officials across the 6 geopolitical zones of Nigeria using a random sampling technique. The 182 returned questionnaires were analyzed using multivariate regression approach employing SPSS. The study found among others that geographical spread of bank agents and the development of tailor-made financial products will engender financial growth among the active poor in the rural communities. It therefore recommended among others, the need for the Central Bank of Nigeria to deepen inclusive growth by licensing more agent banks especially in the rural areas across the six geo-political zones of the country.