Financial Inclusion Using Mobile Phones to Provide Banking Solution to the UnderBanked in Nigeria

Financial Inclusion: Using Mobile Phones to Provide Banking Solution to the Under-Banked in Nigeria

Project / Seminar Material
Reference ID: PS-12011-TM

DEDICATION

This research material titled “Financial Inclusion: Using Mobile Phones to Provide Banking Solution to the Under-Banked in Nigeria” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Banking and Finance (BF), Book Authors and Profound Scholars of existing or related project material on “Financial Inclusion: Using Mobile Phones to Provide Banking Solution to the Under-Banked in Nigeria” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    ABSTRACT

    Mobile banking system as an innovative product of commercial banks and telecommunication companies has become an important practice in Nigeria. The introduction of this phoning banking system has improve banking efficiency in rendering services to customer, as a result, the study examined inclusive financial solution: using mobile phones to provide financial solutions to the “unbanked”. The study adopted a quota sampling technique, data was collected by means of questionnaires from the residents of Ikorodu North Local Government Area and its outskirts (i.e. The villages and remote areas surrounding that axis) − 700; the staff of the MTN Mobile Nigeria Limited,Lagos office − 300; and collaborative staff of Guaranty Trust Bank Plc., Lagos head office − 300. The result shows that mobile banking does provide financial solution to the “unbanked” in Nigeria. Hence, there is a strongly positive relationship between independent and dependent variables. In other words, mobile banking is a reliable and efficient means through which the “unbanked” are being provided with financial solutions.

    To this end, it is hereby recommended that mobile communication industries (e.g.MTN Mobile Money) in collaboration with banking organizations should endeavour to make available to low income earners, especially the “unbanked” or “under-served”affordable mobile phones enabled with modern internet access and gadgets. Similarly,network providers should endeavour to extend their network services to the inward parts of the rural areas, by planting their masts in all strategic areas of villages surrounding Nigeria so as to ensure effectiveness of this innovation. Subsequently, banking organisations are advised to reduce their charges and fees so as to encourage the fearful “unbanked” open accounts and continue to enjoy banking products and services, so as to impact better on their lives through mobile phone system of banking of providing financial solutions and that difficult application processes and procedures for account opening through mobile banking should be simplified in order to accommodate the stark illiterate among them.

    Financial Inclusion: Using Mobile Phones to Provide Banking Solution to the Under-Banked in Nigeria

    CHAPTER ONE

    1.1 Introduction

    … As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitation of the study and Definition of technical terms.

    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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