Yemisi Izuora
Recent data provided by the
The World Bank Global Findex Database has revealed that 118 million Nigerians do not have bank accounts.
According to the report, only 40 per cent of Nigerian adults have bank accounts. It said Nigeria and six other countries are home to nearly half of the 1.7 billion people who do not have bank accounts.
“Globally, about 1.7 billion adults remain unbanked—without an account at a financial institution or through a mobile money provider.
Indeed, nearly half live in just seven developing economies: Bangladesh, China, India, Indonesia, Mexico, Nigeria, and Pakistan,” the report read.