Original Research Article | OPEN ACCESS
Financial Inclusion and Poverty Alleviation in Nigeria

S O. Ogbeide1 , O. O. Igbinigie2

1Department of Accounting and Finance, Faculty of Social and Management Sciences, Elizade University, Ilara- Mokin, Ondo State, Nigeria.; 2Department of Business Administration, Mallam Sanusi Lamido Sanusi College of Management, Igbinedion University, Okada, Edo State, Nigeria..

For correspondence:-  S Ogbeide   Email: sunday.ogbeide@elizadeuniversity.edu.ng

Received: 31 December, 2018        Accepted: 10 Feb, 2019        Published: 31 Marcch 2019

Citation: Ogbeide SO, Igbinigie OO. Financial Inclusion and Poverty Alleviation in Nigeria. Account Tax Rev 2019; 3(1):42-54 doi:

© 2019 The authors.
This is an Open Access article that uses a funding model which does not charge readers or their institutions for access and distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0) and the Budapest Open Access Initiative (http://www.budapestopenaccessinitiative.org/read), which permit unrestricted use, distribution, and reproduction in any medium, provided the original work is properly credited..


The study examined the impact of financial inclusion on poverty alleviation in Nigeria using time series data for the period 2002 to 2015. The data was sourced from the World Bank indicators, 2016. The study employed the ordinary least squares multivariate regression technique. Financial inclusion is found to exert significant impact on per capita income, reduces poverty level and improves standard of living. Specifically, the result shows that commercial bank branches per 100, 000 adults exert positive impact on per capita income, increase standard of living and contributes to poverty alleviation. Depositors with commercial banks per 1000 adults exerted a negative effect on poverty alleviation and are not statistically significant under the reference period. Borrowers from commercial banks per 1000 adults are found to increase per capita income and by extension poverty alleviation and are not statistically significant. The finding also reveals that number of automated teller machines enhanced financial inclusion, income generation and poverty alleviation and was not statistically significant. The study recommends that the Central Bank of Nigeria needs to come up with effective monetary policies that can influence financial inclusion and alleviation of poverty. This will encourage accessibility to financial services at affordable cost for poverty alleviation purposes

Keywords: Financial Inclusion; Poverty alleviation; Per Capita Income; Poverty Index; Automated Teller Machine.

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