Abstract
In recent years, digital banking has moved from the margins of financial services into the mainstream of everyday economic life. Across emerging economies, it is reshaping the ways individuals save, borrow, and transact. For Nigeria, where millions of adults remain excluded from formal banking, the digital turn raises important questions about the possibilities and limits of financial inclusion. This paper explores how digital banks—institutions that operate without traditional branch networks—are expanding access to financial services in rural Nigeria. The discussion situates Nigeria’s experience within wider debates on financial technology, regulation, and development. While digital banking clearly lowers barriers to entry and offers cost-efficient products, persistent challenges remain: poor digital infrastructure, low levels of financial literacy, and limited trust in intangible financial systems. Drawing on existing scholarship and regulatory insights, the paper argues that digital banks hold significant potential for bridging Nigeria’s rural financial gap, but only if policy frameworks, infrastructure, and education keep pace with technological change.
Keywords
Digital Banking; Financial Inclusion; Fintech; Rural Nigeria; Mobile Money; Development Finance
Citations
IRE Journals:
Ochia Dorathy Adaobi
"Assessing the Impact of Digital Banking on Financial Inclusion in Rural Nigeria" Iconic Research And Engineering Journals Volume 9 Issue 4 2025 Page 403-406
IEEE:
Ochia Dorathy Adaobi
"Assessing the Impact of Digital Banking on Financial Inclusion in Rural Nigeria" Iconic Research And Engineering Journals, 9(4)
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