Financial inclusion and gender-induced poverty in Nigeria

Sunday Ade Bello, Godwin Emmanuel Oyedokun and Modupeola Atoke Adeolu-Akande
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Sunday Ade Bello: Department of Management & Accounting Faculty of Management and Social Sciences Lead City University, Nigeria
Godwin Emmanuel Oyedokun: Department of Management & Accounting Faculty of Management and Social Sciences Lead City University, Nigeria
Modupeola Atoke Adeolu-Akande: Department of Management & Accounting Faculty of Management and Social Sciences Lead City University, Nigeria

International Journal of Research in Business and Social Science (2147-4478), 2021, vol. 10, issue 8, 266-274

Abstract: The goal of this study was to see how financial inclusion affects gender-based poverty in Nigeria. Commercial bank branches, deposits, and borrowers were the proxy for financial inclusion. The poverty index was used to measure poverty reduction. The World Development Indicator (WDI) and the CBN Statistical Bulletin 2021 provided the data for this study. Finally, the study included the years 2002 to 2019. Financial inclusion reduces household poverty in Nigeria, according to the study, which used a VAR estimate. The coefficients of commercial bank branches and commercial bank deposits were (-0.004) and (-0.008), respectively, indicating that they had a negative influence on poverty reduction. Furthermore, the study discovered that having access to credit through a financial institution was crucial in lowering poverty in Nigeria over the study period. As a result, the report recommends that steps to promote the rule of law, particularly contract enforcement and financial regulatory inspection, be implemented, resulting in more financial inclusion and a reduction in poverty and income gaps, particularly between men and women. The benefits of financial inclusion must be made more widely known, particularly in rural regions, through promoting financial literacy among the poor through education, advertising, and traditional institutions Key Words:Economic growth, Financial inclusion, Financial literacy, Gender, Poverty

Date: 2021
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