IMPACT OF MOBILE BANKING ON FINANCIAL INCLUSION IN ANYIGBA, NIGERIA (2013–2023)
Abstract
This study examined the impact of mobile banking on financial inclusion in Anyigba, Nigeria (2013-2023). The research revealed high mobile phone access (77.34%) and mobile banking adoption (76.3%) among residents, with 57.03% using services daily. Despite challenges such as lack of trust (23.44%), complexity (20.83%), and technical issues (82.03%), mobile banking significantly enhanced financial inclusion. The majority of users reported increased access to financial services (80.73%), improved savings (76.3%), and greater economic participation (77.34%). Logit regression analysis identified key factors influencing mobile banking use, including education, income, trust, perceived ease of use, and awareness. The study's findings indicate that mobile banking has significant potential to enhance financial inclusion in Anyigba. To fully realize this potential, the research recommends implementing a multi-faceted approach. This includes launching targeted awareness programs to educate the public about mobile banking benefits, strengthening security measures to build trust, simplifying user interfaces for improved accessibility, and expanding features specifically designed to promote financial inclusion. By addressing these key areas, the study suggests that current challenges can be overcome, paving the way for mobile banking to make a substantial impact on financial inclusion in the region.
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