The Effect Of Financial Technology On Financial Inclusion In Nigeria

1.3 Objective of the Study

The overall objective of the study is to determine the effect of financial technology on financial inclusion in Nigeria. The specific objectives include the following:

i. To ascertain the effect of internet banking on financial inclusion in Nigeria.

ii. To examine the effect of Automated Teller Machines on financial inclusion in Nigeria.

iii. To assess the impact of Point of Sales on financial inclusion in Nigeria.

1.4 Research Questions

From the aforementioned objectives, the following research questions are formulated.

 i. What is the effect of internet banking on financial inclusion in Nigeria?

ii. What is the effect of Automated Teller Machines on financial inclusion in Nigeria?

iii. What the impact of Point of Sales on financial inclusion in Nigeria?

1.5 Research Hypothesis:

The study tested the following the following hypotheses:

HO1: Internet banking has no significant effect on financial inclusion in Nigeria.

HO2: Automated Teller Machines has no significant effect on financial inclusion in Nigeria.

HO3: Point of Sales has no significant effect on financial inclusion in Nigeria.

1.6 Scope of the Study

The focus of this study is on effect of financial technology on financial inclusion in Nigeria. The study is a time series study covering the period from 2010 to 2018. This includes the most current data available on the variables understudied. Furthermore, the range of the years ensures the provision of sufficient data for the tool of analysis chosen.

In this work, financial technology is proxies using internet banking, Automated Teller Machines and Point of Sales while financial inclusion is estimated using the number of banked people.

1.7 Significance of the Study:

The study will provide current empirical evidence on the relationship between financial technology and financial inclusion in Nigeria, thereby contributing significantly to the body of knowledge. The research will also be helpful as a reference material for other researchers who chose to write on the subject matter.

 Furthermore, the findings of this study will assist the government and its agencies particularly the Central Bank of Nigeria in policy formulation and implementation on the unbanked population. The study will also provide a guide on moral suasion and directives to deposit money banks to enhance financial inclusion