EFInA Reports 79% Financial Inclusion in Nigeria Driven by Digital Services

The 2026 Access to Financial Services in Nigeria (A2F) Survey, conducted by Enhancing Financial Innovation and Access (EFInA), reveals that Nigeria's financial inclusion rate has increased to 79%, encompassing approximately 94.2 million adults. This growth is attributed to the rapid expansion of digital financial services, with formal financial inclusion rising to 73%, equivalent to about 87.2 million adults, surpassing the 70% target set by the National Financial Inclusion Strategy.

The survey indicates that 64.4% of Nigerian adults now utilize digital financial services, a significant increase from 45% in 2023 and 34% in 2020. The findings were presented at an event in Lagos, attended by various stakeholders, including government officials and financial institutions.

Dr Agnes Olatokunbo Martins, Board Chair of EFInA, emphasized the importance of understanding individual financial needs. In a keynote address, Dr Aisha A.

Isa-Olatinwo from the Central Bank of Nigeria highlighted the need for policies that ensure meaningful usage and improvement in financial health. Ms Omolola Oloworaran from the National Pension Commission noted the rise in pension participation from 8% in 2023 to 9.1%.