A new report by the Aminu Kano Centre for Democratic Studies says about 38 percent of women in northern Nigeria lack access to financial services. The study, unveiled in Abuja on Wednesday, found that just over half of women in the region are financially included.
According to the report, 52 percent of women have access to financial services, with 45 percent using formal institutions such as banks and microfinance organisations, while seven percent rely on other formal non-bank products, including insurance. However, a significant number remain excluded from both formal and informal systems.
Researchers say unemployment in the region stands at about 37 percent, with poverty levels averaging 80 percent, based on data consistent with the National Bureau of Statistics. Sokoto State recorded the highest poverty rate among northern states.
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The report recommends targeted interventions, including financial literacy programmes, improved access to credit, and policies to support women-owned businesses. It also calls for collaboration between the government, financial institutions and development partners to improve inclusion and reduce poverty.
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