Nigeria

Nigeria’s low rate of financial inclusion, and how to solve it

  • Nigeria missed its 2020 financial inclusion target, as banks still cannot capture financially excluded Nigerians

  • Fintechs are innovating but fail to address the real issues, with most solutions being directed at people who are banked

  • We reiterate that telcos will make the best banks in Nigeria, as mobile money is critical to boost financial inclusion

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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

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