- dataset
EFInA launched its first Access to Financial Services in Nigeria survey in 2008. Subsequent surveys were undertaken in 2010, 2012, 2014, 2016, 2018 2020 and 2023.
How to Cite the Survey
When citing the Access to Financial Services in Nigeria Survey, please use the following formats
APA Format
Enhancing Financial Inclusion & Advancement (EFInA). (Year). The Access to Financial Services in Nigeria Survey. Accessed at www.a2f.ng (Date accessed).
MLA Format
The Access to Financial Services in Nigeria Survey. Enhancing Financial Inclusion & Advancement (EFInA), Year. Accessed at www.a2f.ng (Date accessed).
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2023 Survey
This is an updated dataset for the A2F 2023 Survey based on revisions to the National Bureau of Statistics (NBS) population estimates for Lagos and Kano states. The Financial inclusion estimates produced using the new dataset remain within the acceptable margin of error of between 4% and 8% at the 95% confidence level
2020 Survey
EFInA launched its first Access to Financial Services in Nigeria survey in 2008. Subsequent surveys were undertaken in 2010, 2012, 2014, 2016, 2018, and 2020
The EFInA Access to Financial Services in Nigeria 2020 survey results have been disseminated. The findings from the survey highlight the opportunities to extend financial services to the unbanked and under-banked low-income segments in the country. The EFInA Access to Financial Services in Nigeria survey is nationwide and covers over 20,000 consumers. The survey is conducted every two years and aims to:
- Document the usage of financial products across both the formal and informal sectors from an urban and rural perspective.
- Provide insights into regulatory and market obstacles to growth and innovation in the financial sector.
- Identify the financial needs of the adult population and thereby allow service providers to develop innovative products to serve them.
- Provide credible data that highlights opportunities for policy reform and supports evidence-based financial inclusion policies.
2018 Survey
The results of the EFInA Access to Financial Services in Nigeria 2018 survey revealed that 39.5 million adults (39.7% of the adult population) have a deposit money bank account. This represents an increase of 2.6 million adults, from 36.9 million in 2016. In 2018, the formally included segment increased from 46.9 million adults in 2016 to 48.4 million adults in 2018. The number of adults relying on informal mechanism ONLY increased significantly from 9.4 million in 2016 to 14.6 million in 2018.
The findings also revealed that 36.6 million adults, representing 36.8% of the adult population, are financially excluded.
2016 Survey
The results of the EFInA Access to Financial Services in Nigeria 2016 survey revealed that 36.9 million (38.3% of the adult population) have access to a bank account. This represents an increase of 3.0 million adults, from 33.9 million in 2014. In 2016, the formally included segment increased from 45.4 million adults in 2014 to 46.9 million adults in 2016. This represents an increase of 1.5 million adults who have access to Deposit Money Banks, MicroFinance Banks, Mobile Money, Insurance and Pensions. The findings also revealed that 40.1 million Nigerian adults, representing 41.6% of the adult population, are financially excluded.
2014 Survey
The results of the EFInA Access to Financial Services in Nigeria 2014 survey showed that 36.9 million adults, representing 39.5% of adult population, are financially excluded. Only 33.9 million adults are banked, representing 36.3% of adult population.
2012 Survey
The results of the EFInA Access to Financial Services in Nigeria 2012 survey showed that 34.9 million adults representing 39.7% of the adult population were financially excluded. Only 28.6 million adults were banked representing 32.5% of the adult population.
2010 Survey
The results of the EFInA Access to Financial Services in Nigeria 2010 survey showed that 39.2 million Nigerians representing 46.3% of the adult population were financially excluded. Only 25.4 million Nigerians were banked representing 30.0% of the adult population.
2008 Survey
The results of the EFInA Access to Financial Services in Nigeria 2008 survey showed that 45.4 million Nigerians representing 52.5% of the adult population were financially excluded. Only 18.3 million Nigerians were banked representing 21.1% of the adult population.