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Author: search.filters.author.Musa Abdullahi SakankoSubject: search.filters.subject.Financial Inclusion

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    Financial inclusion and Poverty reduction
    (Aryan Digital Press, 2020) Nurudeen Abu; Musa Abdullahi Sakanko
    Over time, it has been argued that economic growth is a powerful instrument for poverty reduction, the improvement of the standard of living and quality of life in developing countries. However, in recent times, increasing economic growth has not been influencing poverty reduction significantly and among other precarious development indicators, especially in developing countries. And with the growing number of extreme poverty resulting from lack of out-of-pocket among low-income households, this had prompted the principle of financial inclusion to become globally accepted due to poverty reduction role play in society. It is on this note that this chapter reviews the importance of financial inclusion on poverty reduction, the effect of financial exclusion on poor, financial education and how financial institutions can enhance financial inclusion to perform better poverty eradication roles. Thus, it concludes that financial inclusion provides a low-income household with affordable financial credit to jumpstart business which generates income to improve the living standard thus reducing poverty. It gives the household an opportunity to create values and use them to provide basic needs such as education, health, and nutrition. It also provides standby finance for health spending in case of health shocks through insurance and health savings accounts.
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    Financial Literacy and Financial Inclusion
    (Zakariya Journal of Social Sciences (ZJSS), 2023) Musa Abdullahi Sakanko; Sufiyanu Umma Yahaya; Salihu Abdullahi
    The study employed the Probit regression on the National Bureau of Statistics general households survey data to appraise the effect of financial literacy on financial inclusion in Niger State. The estimation result shows that financial literacy positively and statistically influences financial inclusion options (account ownership, bank access, and credit access) in Niger state. Similarly, education status, age, and gender are determinants of financial inclusion. The study concluded that financial literacy is necessary for achieving financial inclusion. To encourage financial inclusion among youth, the government should include financial education in secondary school and tertiary to teach skills and information on how to utilize and manage financial services and products. The central bank should also mandate the financial institutions to establish customer financial advisory units to educate their clients on managing and using financial products and services available to them to create wealth, thus improving living standards.
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    Advancing inclusive growth in Nigeria: the role of financial inclusion in poverty, inequality, household expenditure, and unemployment
    (Indonesian Journal of Islamic Economics Research, 2020) Musa Abdullahi Sakanko; Joseph David; Aliyu Musari Onimisi
    This study employs ARDL bounds testing technique to examine the effect of financial inclusion on inclusive growth in Nigeria, using quarterly data from 2007-2018. The empirical evidence reveals the presence of cointegration between financial inclusion indicators (account ownership, access to bank, ATM and credit, loans to SMEs and internet usage) and inclusive growth (poverty, household expenditure, employment, and per capita income). The results demonstrate that, while increase in account ownership, and access to bank and ATM raise poverty, and access to credit, loans to SMEs and internet usage reduces employment and per capita income in the long-run, it was also discovered that access to credit reduce poverty and increase household consumption, while account ownership and access to bank increases employment and per capita income in the long-run. In the short-run: lag of account ownership, access to ATM and credit, loan to SMEs and internet usage reduces poverty; lag of household expenditure, account ownership, and access to ATM and lag of internet usage increases household expenditure; lags of access to ATM and lags of internet usage (and account ownership and access to the bank) increases employment opportunities (and per capita income), and access to ATM and credit reduces employment and per capita income respectively.