Nigeria’s financial exclusion rate has dropped to 21 per cent, according to the latest findings from Enhancing Financial Innovation & Access (EFInA).
The development was disclosed at the launch of the 2026 Access to Financial Services in Nigeria (A2F) survey in Abuja on Wednesday. The survey tracks Nigerians’ access to formal financial services and highlights changes in how individuals save, borrow, make payments and access financial products.
EFInA’s Board Chair, Dr Agnes Martins, said financial access should go beyond simply opening bank accounts and should create opportunities for Nigerians to participate more actively in the economy.
The organisation called for stronger efforts to ensure that financial services reach people who remain underserved, particularly those facing barriers to formal banking and other financial products.
The decline in financial exclusion comes as Nigeria continues to expand digital financial services, mobile payments and other technology-driven channels designed to make financial transactions more accessible.
Stakeholders at the event also stressed the importance of using financial inclusion to support economic empowerment, allowing individuals and small businesses to save securely, access credit, receive payments and participate in the wider economy.
The findings are expected to provide policymakers, financial institutions and fintech companies with updated data for designing products and policies aimed at closing remaining gaps in access to financial services.
With 21 per cent of Nigerians still classified as financially excluded, EFInA said continued collaboration among government, financial institutions and other stakeholders remains important to ensure that improvements in access translate into meaningful economic opportunities.
