You have no items in your shopping cart.
ABSTRACT
The study examines the effect of loan Sharks on Financial Inclusion in Nigeria. In this study a cross sectional survey is designed, the research explored the impact of various factors like Accessibility, Interest rates, Transparency and Enforcement and ecovery practices of loan sharks as the independent variables on financial inclusion (dependent variable) in Nigeria. The result shows Accessibility was found to have a negative impact on financial inclusion in Nigeria. It was however not found to be statistically significant. Interest rate was found to have a positive impact on financial inclusion. It was also found to be statistically significant. Transparency of loan shark was found to have a negative impact on financial inclusion. It was also found to be statistically significant. Enforcement was found to have negative impact on financial inclusion. It was also found to be statistically significant. Descriptive Statistics, Correlation and Regression analyses are employed to explore these relationship and identify the significant predictors of Financial Inclusion in Nigeria. By analyzing these variables, we aim to uncover the dynamics that facilitate or hinder the integration of individuals into the formal financial system, providing valuable insights for policymakers and financial institutions. The study however recommends the measures for Policy makers, Financial Institutions and Stakeholders in enhancing Financial Inclusion, thereby promoting economic growth and stability. The comprehensive strategies are essential for overcoming the various barriers to financial inclusion and ensuring that all Nigerians can benefit from access to formal financial services.
