Access to and Use of Bank Services in Nigeria: Micro-Econometric Evidence

21 Pages Posted: 2 Jul 2014

See all articles by Uchenna Efobi

Uchenna Efobi

Covenant University

Ibukun Beecroft

Covenant University

Evans Osabuohien

Covenant University

Date Written: June 30, 2014

Abstract

This study examined the access to and use of bank services in Nigeria using data from the World Bank Household Survey (2011) on financial inclusion around the world. A novel framework was developed to situate the decision of individuals towards financial services in Nigeria. We examined three dependent variables-use of bank services, use of the account to save and frequency of withdrawals from the bank. With the aid of Logistic regression, we estimated our empirical model and our results show that the attributes, income level and ICT inclination of individuals have an effect on the access to and use of bank services in Nigeria. We also established that the age of an individual matters in explaining the influence of the other explanatory variables on our dependent variables.

Keywords: Banking Services, Financial Inclusion, Financial Services, Individuals’ Attributes, Nigeria, Savings.

JEL Classification: D01, G02, G21

Suggested Citation

Efobi, Uchenna and Beecroft, Ibukun and Osabuohien, Evans S. C., Access to and Use of Bank Services in Nigeria: Micro-Econometric Evidence (June 30, 2014). Available at SSRN: https://ssrn.com/abstract=2460961 or http://dx.doi.org/10.2139/ssrn.2460961

Uchenna Efobi (Contact Author)

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

Ibukun Beecroft

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

Evans S. C. Osabuohien

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

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