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Study reveals 38% of women in Northern Nigeria lack access to financial services

A new study by the Aminu Kano Centre for Democratic Studies, Bayero University Kano, supported by the Gates Foundation, found that 38% of women in Northern Nigeria lack access to financial services. The report, titled "Understanding Influence and Behaviour in Northern Nigeria," was unveiled in Abuja. It indicates that while 52% of women are financially served, only 45% access formal financial services through deposit money banks, merchant banks, interest-free banks, and microfinance institutions. An additional 7% utilize other formal non-bank financial products, including insurance services. Professor Yusuf Garba, representing the Vice Chancellor of Bayero University, stated the research, which began in 2024, aims to understand why the region lags in financial access. The 18-month study produced two volumes detailing how influence structures, trust hierarchies, gender norms, and religious considerations shape decisions around finance, health, and education. Principal Investigator Professor Ismael Zango noted the data aligns with National Bureau of Statistics figures on poverty and unemployment, with unemployment in the region at about 37% and poverty levels averaging 80%. He stressed that addressing financial exclusion requires more than temporary interventions, advocating for equipping women and youth with market-driven skills and scaling up initiatives like groundnut processing groups in Kebbi State and the Women in Agriculture program in Kano State. Mrs. Foyinsolami Akinja