Recent
data provided by the World Bank says 118 million Nigerians do not have bank
accounts.
The
information was made available in the latest Global Findex Database report
released on Thursday at the ongoing Spring meetings of the International
Monetary Fund and World Bank in Washington DC.
According
to the report, only 40 percent of Nigerian adults have bank accounts. It
said Nigeria and six other countries are home to nearly half of the 1.7 billion
people who do not have bank accounts.
“Globally,
about 1.7 billion adults remain unbanked—without an account at a financial
institution or through a mobile money provider. Indeed, nearly half live in
just seven developing economies: Bangladesh, China, India, Indonesia, Mexico,
Nigeria, and Pakistan,” the report read.
“The
gap between men and women in developing economies remains unchanged since 2011,
at 9 percentage points.”
The
National Population Commission (NPC) pegs Nigeria’s estimated population at 198
million, the seventh largest in the world.
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