The Impact of Fintech on Financial Inclusion in Southern Nigeria

Chibunna Iroakazi Ezinwa and Sunday Ade Bello
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Chibunna Iroakazi Ezinwa: Doctoral Scholar, Ballsbridge University, Commonwealth of Dominica, West Indies
Sunday Ade Bello: Visiting Professor of Management, Entrepreneurship, and Leadership; Ballsbridge University, Commonwealth of Dominica, West Indies

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 2, 256-273

Abstract: This study examines how fintech affects financial inclusion in Southern Nigeria, with a particular emphasis on improving underbanked and unbanked communities’ access to financial services. The study used a mixed methods approach, integrating qualitative interviews and quantitative surveys done throughout the states of Anambra, Lagos, and Rivers. The results show that, especially for younger, tech-savvy people, fintech has greatly increased access to banking services, savings, credit, and investment opportunities. Disparities between urban and rural areas still exist, nevertheless, with rural areas struggling because of a lack of adequate digital infrastructure. Significant obstacles to wider adoption include worries about security and trust. To address security issues and foster consumer trust, the study suggests that government agencies, regulatory bodies, and fintech companies work together to enhance digital infrastructure in rural areas and create regulatory frameworks. To guarantee that every demographic can take full advantage of fintech innovations, financial literacy initiatives must be expanded.

Date: 2025
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