EFInA unveils 2012 Access To Financial Service Report

Enhancing Financial Innovation & Access (EFInA), a financial sector development firm, has unveiled its report on the Access To Financial Services In Nigeria (survey) for 2012.

According to the survey, only 37.8 million Nigerians, representing 43.0 per cent of the adult population have access to and/or use formal financial services; while 34.9 million Nigerians representing 39.7 per cent of the adult population are financially excluded.

Meanwhile, Modupe Ladipo, the Chief Executive Officer of EFInA, said that between 2008 and 2012, the number of adults that were financially excluded decreased by 10.5 million.

The survey among other things, aims to measure trends in access and usage of financial services in Nigeria from 2008 to 2012 and to establish credible benchmarks and indicators of financial penetration in Nigeria.