Post Focus Group Discussions (FGDs) 2014 -2015
29 June 2015

The EFInA Access to Financial Services in Nigeria 2014 survey revealed, amongst other findings, the following:

  • Relative to findings of the EFInA Access to Financial Services in Nigeria 2012 survey, there was a significant increase in the proportion of formally served adults in Kano State, from 11.3% in 2012 to 42.1% in 2014.
  • The number of adults with a microfinance bank account dropped from 4.6 million in 2012 to 2.6 million in 2014; and the highest number of previous microfinance bank users was in Oyo State.
  • Although the overall proportion of Nigerian adults who were financially excluded did not change significantly from 2012 to 2014, some states showed an increase in the proportion of financially excluded adults during this period.

Against the background of the above-mentioned survey findings, EFInA commissioned qualitative research using Focus Group Discussions in February 2015 to explore the following:

  • The key drivers of the increase in formal inclusion amongst adults in Kano State.
  • The reasons why so many adults in Oyo State stopped using microfinance banks and to explore how these individuals are currently managing their finances.
  • The reasons why financially excluded adults in Lagos State do not use either formal or informal financial services providers, and identify factors that can encourage these individuals to start using formal financial products and services.

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