What the figures say about access to financial services across regions in Nigeria

July 17, 2023

Over 4,000 people were interviewed in Nigeria's six geopolitical zones for the Nigerian Financial Services Market report. Let's look at what the figures in the report, produced in partnership with Moniepoint, tell us.

The North Central, North-West, and South-West each accounted for a little over one-fifth of the people who own mobile money (MoMo) or bank accounts.

The South West has the most people with no mobile money or bank account compared to the share of interviewees from other regions.

Compared to other regions, more people in the South South with no mobile money or bank account haven't heard about mobile money before. Also, a larger percentage of respondents with no mobile money or bank accounts in the North East have never heard about mobile money compared to other regions.

A larger ratio of interviewees from all three southern geopolitical zones have higher neobank awareness compared to those from other regions.

The South South has the highest ratio of people with no banking facilities — commercial bank, payment service banks, and microfinance banks — in their communities.

Get The Nigerian Financial Services Market report for more insights about people in Nigeria with or without mobile money and bank accounts here.


Yinka Awosanya
Mobile & African Tech Enthusiast │ Data │ Music
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