According to the World Bank, between 16 to 45 percent of Nigerians held accounts at regulated institutions in 2021, including banks, credit unions, microfinance institutions, post offices, and mobile money service providers.
According to the world bank, global account ownership increased by 50% between 2011 and 2021, going from 51% to 76%. During the time period under consideration, Nigeria’s account ownership growth climbed from 30 to 45 percent.
In a study titled “The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19,” the bank offered this information. According to the research, overall account ownership in emerging economies climbed by 30 percentage points from 42 percent in.