RELATIONSHIP BETWEEN FINANCIAL INCLUSION AND ECONOMIC GROWTH IN NIGERIAN RURAL DWELLERS.

Nwanne, T.F.I and OKORIE, George Chisom (2015) RELATIONSHIP BETWEEN FINANCIAL INCLUSION AND ECONOMIC GROWTH IN NIGERIAN RURAL DWELLERS. International Journal of Small Business and Entrepreneurship Research, 3 (7). pp. 17-27. ISSN 2053-583X

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Abstract

Financial inclusion as the provision of a broad range of high quality financial products such as savings, credit, insurance, payments and pensions, which are relevant, appropriate and affordable for the entire adult population especially the low income segments of the economy. This study critically examines the sustainability of financial inclusion to rural dwellers in Nigeria using descriptive study and content analysis. The study observed that the sustainability of financial inclusion to rural dwellers in Nigeria remains the mainstream for economic growth in any country. The implication of this study is that economy cannot grow fast without proper implementation of financial inclusion to rural areas in Nigeria. The study recommended that the promotion of collaboration between Deposit Money Banks (DMBs), Microfinance Banks (MFBs) and Communication services providers for enhanced intermediation of financial services should be encouraged; there is need to educate rural dwellers on the importance of banking as it would facilitate the success of CBN financial inclusion policy and that since some of the rural dwellers preferred to keep money under their pillows at home, there should be proper enlightenment to change their orientation on financial inclusion in Nigeria. KEYWORDS: Financial Inclusion, Rural Dweller, Economic Growth, Savings, Credit.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
L Education > L Education (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: GOUNI ICT
Date Deposited: 18 May 2018 11:19
Last Modified: 24 Sep 2019 20:32
URI: http://eprints.gouni.edu.ng/id/eprint/103

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