OPay Drives Financial Inclusion in Nigeria to 64.4%

In 2026, digital financial services reached 64.4% of Nigerian adults, while the proportion of financially excluded individuals fell to 21%, down from 26% in 2023. This data comes from the 2026 Access to Financial Services in Nigeria survey conducted by Enhancing Financial Innovation and Access (EFInA).

OPay, a digital payments provider that began operations in Nigeria in 2018, is instrumental in expanding access to financial services through mobile payments, transfers, savings, and merchant services. The survey revealed that 79% of Nigerian adults, approximately 94.2 million people, utilized a financial product or service, with formal financial inclusion rising to 73% in 2026.

Despite these advancements, the survey indicated that financial security remains a challenge, with three out of four adults not financially healthy, formal credit access at only 10%, and insurance coverage at 5%. OPay's services aim to facilitate everyday financial transactions, demonstrating the practical benefits of financial inclusion for various demographics.