AN EVALUATION OF FINANCIAL INCLUSION AND DIGITAL PAYMENT ADOPTION IN NIGERIA.

Abstract

This study aims to evaluate the state of financial inclusion and digital payment adoption in Nigeria. The objectives of this research are to assess the level of financial inclusion in Nigeria, including the availability and accessibility of financial services to individuals and businesses. Additionally, it aims to examine the factors influencing the adoption of digital payment systems in Nigeria, identify the barriers and challenges hindering widespread adoption, and propose strategies and policy recommendations for enhancing financial inclusion and promoting digital payment adoption. To achieve these objectives, a comprehensive review of credible print and web sources was conducted. The findings indicate that while Nigeria has made significant progress in improving financial inclusion, there are still challenges to overcome. Limited access to banking services, particularly in rural areas, remains a major barrier. Additionally, low levels of financial literacy and trust in digital payment systems hinder adoption. Strategies and policy recommendations such as improve financial literacy, strengthen regulatory framework, foster collaboration between stakeholders among others were proposed