38% of Northern Women Lack Access to Financial Services

A report from the Aminu Kano Centre for Democratic Studies at Bayero University Kano indicates that 38% of women in Northern Nigeria are excluded from financial services. The study, titled "Understanding the Influence of Behaviour in Northern Nigeria," was unveiled in Abuja on Wednesday and highlights that only 52% of women have access to financial services, with 45% able to access formal financial services such as bank deposits.

The research, set to begin in 2024, aims to examine social norms and behaviors influencing financial inclusion across 19 northern states. Prof. Yusuf Garba, representing Vice Chancellor Prof. Haurna Musa, explained that the study will investigate why the region lags in financial access, focusing on factors such as structural trust, gender norms, and religious considerations.

The report aligns with national statistics showing a 37% unemployment rate and an 80% poverty level in the region. Mr. Foyinsolami Akinjayeju emphasized the need for collaborative efforts to address financial exclusion and empower women and youth through market-driven skills.