Abubakar Abdullahi, Ibrahim Mohammed Mukhtar, Alhassan Idris Mahmud, Saifuzzaman Ibrahim, Bolaji Matemilola

Keywords: Mobile money, financial inclusion, digital finance, logistic regression bank agents

Abstract

Financial inclusion remains a critical challenge in Nigeria, particularly in Kaduna State, where limited access to banking services constrains economic participation. Mobile money has emerged as a potential solution, offering financial services through digital platforms. However, the adoption of Mobile Money in Kaduna State remains uneven due to infrastructural deficits, financial illiteracy, and socio-cultural barriers. This study examines the impact of mobile money on financial inclusion, analyzing demographic factors and barriers to adoption. Using a multi-stage sampling approach, data was collected from 2,100 respondents across six Local Government Areas in Kaduna State. A logistic regression model was employed to assess the determinants of mobile money usage. The results indicate that education and income levels significantly influence mobile banking adoption, with educated and higher-income individuals more likely to use mobile money services. Furthermore, socio-cultural norms and inadequate infrastructure hinder financial inclusion in rural areas. The study concludes that education and income levels significantly influence mobile money adoption, with higher-educated and higher-income individuals more likely to use these services. Rural areas experience greater financial exclusion due to limited network coverage and low agent penetration, highlighting the need to address these challenges for inclusive economic growth. Therefore, the study underscores the need for targeted interventions, including financial literacy programs and expanded agent networks, to bridge the financial inclusion gap. These insights are crucial for policymakers, financial institutions, and telecommunication providers in designing effective strategies to enhance digital financial accessibility in Kaduna State.

Author Biography

Abubakar Abdullahi, Ibrahim Mohammed Mukhtar, Alhassan Idris Mahmud

Department of Economics, Kaduna State University, Nigeria

Saifuzzaman Ibrahim, Bolaji Matemilola

Department of Finance, University Putra Malaysia

Email: [email protected]

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