Mobile money operations, financial inclusion and Socioeconomic factors in the Niger-Delta Region of Nigeria

Nenubari Ikue, John Sodipo, Samuel Zeb-Omoni, Onyinyechi Uche, Linus Enegesi, Ernest Taenyi, Edwin Ekuase, Mtomabari Simeon and Boma Alalibo
Additional contact information
John Sodipo: Central Bank of Nigeri
Samuel Zeb-Omoni: Central Bank of Nigeri
Onyinyechi Uche: Central Bank of Nigeri
Linus Enegesi: Central Bank of Nigeri
Ernest Taenyi: Central Bank of Nigeri
Edwin Ekuase: Central Bank of Nigeri
Mtomabari Simeon: Central Bank of Nigeri
Boma Alalibo: Central Bank of Nigeri

International Journal of Research in Business and Social Science (2147-4478), 2021, vol. 10, issue 5, 224-234

Abstract: The improvement in the standard of living of citizenry is beyond lack of money but the poverty to access financial instruments and means to financial platforms. Such that lack of access to financial instruments and services is a major veritable channel for poverty amplification in the society. This paper examines the relationship between Mobile Money Operations (MMOs) and Financial Inclusion in the Niger Delta region of Nigeria. The paper also analysis the trends of the instruments of financial inclusion and MMOs in Nigeria from 2012 to 2019. The primary and secondary were data sourced and analyzed with the Net Balance Methods, Instruments of inferential and descriptive statistics. The survey results show a visual cycle of higher number of respondents with secondary school qualifications and less which have led to low income and an ineffective participation to mobile money and financial inclusions in the rural areas. We equally observed that poor internet and mobile networks, epileptic power supply, unclear economic policies among others are major setback for the insignificant relationship between MMOs and financial inclusion in the Niger Delta region. This implies that the growth of mobile banking and financial inclusions to facilitate financial system soundness and enhances economic growth and development required more motivations from institutions other than the financial institutions; as a ways of encouraging increased Nigerians participation. Base on the result the paper can assumes that the financial system has provided the needed instrument for citizen participation but the social and economic conditions of the country is the bottleneck for financial inclusions. Key Words:Mobile-Money Operation, Net-Balance-Methods, Confidence-Index, Financial-Inclusion, Niger-Delta

Date: 2021
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