Emmanuel TobiWritten by
Damilola Obanijesu Oyawole
ABSTRACT
Despite the significant growth of the banking sector in Nigeria, access to formal financial services remains
limited while many individuals and businesses, particularly in rural and underserved areas are excluded.
This lack of financial inclusion has led to a range of negative consequences, including reduced economic growth, increased poverty and inequality, and
limited opportunities for entrepreneurship and innovation.
To address this problem, policymakers and stakeholders in the banking sector are implementing various strategies
and initiatives to promote financial inclusion, but their effectiveness and impact on corporate finance in Nigeria
are not yet fully understood.
It is against this backdrop, that this paper explores more practicable strategies that
can be employed to enhance financial inclusion in Nigerian banking sector. It also examines the implications
of financial inclusion for corporate finance, and goes further to highlight the importance of creating an enabling regulatory environment, fostering partnerships between financial institutions and other stakeholders, and
addressing challenges such as infrastructure limitations and financial literacy.
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