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Few Nigerians have access to banks

17 April 2013, 11:32Henry Ifeanyi

Lagos – Fewer people in Nigeria have access to financial services than in any other West African country, a recent survey carried out by a global leader in technology, Systems Applications Products (SAP), has shown.

According to the survey titled: "Accessibility to financial services in Sub-Saharan Africa” more than 80 per cent of people in the region do not have access to traditional financial services.

The report said Nigeria has the largest percentage of people that have little or no access to financial services in the region.

“In sub-Saharan Africa, more than 80 per cent of people have no access to traditional financial services. This has been one of the great challenges in fighting poverty.

"Given the lack of developed infrastructure in many parts of Africa, how is it possible to provide millions of 'unbanked' people with basic banking services?,” the report reads.

The report noted that the introduction of mobile telephony services would increase accessibility to financial services or products in the region in future.

– CAJ News



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