An investigation of Muhammadu Buhari’s role in enhancing digital banking and financial inclusion in Yobe North, Yobe State
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Background of the Study
Digital banking and financial inclusion are key factors in promoting economic development, particularly in developing nations like Nigeria. Access to banking services, particularly for individuals in remote or underserved areas, is crucial for improving savings, investment, and overall economic participation. Muhammadu Buhari’s administration made significant strides in promoting digital banking and enhancing financial inclusion, focusing on expanding access to banking services, especially for rural and underserved populations. His policies included the promotion of mobile banking, the strengthening of the National Financial Inclusion Strategy (NFIS), and leveraging technology to increase the number of banked individuals in Nigeria.
Yobe North, located in Yobe State, is one of the northern Nigerian regions with relatively low access to formal banking services due to a combination of factors such as infrastructural challenges, low literacy rates, and limited financial institutions. However, with the increasing push for digital banking initiatives under the Buhari administration, the region has experienced some changes. This study seeks to investigate how Muhammadu Buhari’s policies in digital banking and financial inclusion have impacted the financial accessibility of residents in Yobe North, particularly through mobile banking, fintech innovation, and other digital financial services.
Statement of the Problem
Despite the significant growth in Nigeria’s digital banking sector, many regions, including Yobe North, still experience limited access to banking services. This lack of access limits economic opportunities for individuals, hinders savings, and reduces the ability to engage in financial markets. Although Muhammadu Buhari’s administration made efforts to increase financial inclusion through various initiatives, the extent of their success in Yobe North remains unclear. This study aims to evaluate the role of these digital banking initiatives in enhancing financial inclusion and improving the financial accessibility of residents in Yobe North.
Objectives of the Study
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To assess the impact of Muhammadu Buhari’s digital banking policies on financial inclusion in Yobe North, Yobe State.
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To investigate the role of mobile banking and fintech innovations in increasing access to financial services in Yobe North.
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To evaluate the challenges faced by residents of Yobe North in adopting digital banking services.
Research Questions
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How have Muhammadu Buhari’s digital banking policies affected financial inclusion in Yobe North?
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What role have mobile banking and fintech innovations played in improving financial access in Yobe North?
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What challenges do the residents of Yobe North face in adopting digital banking services?
Research Hypotheses
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Muhammadu Buhari’s digital banking policies have increased financial inclusion in Yobe North, Yobe State.
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Mobile banking and fintech innovations have played a significant role in improving financial accessibility in Yobe North.
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Residents of Yobe North face significant challenges in adopting digital banking services due to factors such as internet connectivity, literacy, and infrastructure.
Scope and Limitations of the Study
This study will focus on the evaluation of Muhammadu Buhari’s digital banking and financial inclusion policies in Yobe North, Yobe State. The scope will include an assessment of mobile banking penetration, the role of fintech startups, and other efforts aimed at improving access to financial services. The study will be limited to the period of Buhari’s tenure (2015-2023), and the research will rely on both primary data from surveys and secondary data from available reports. Limitations include the potential lack of complete data on digital banking adoption and challenges in measuring the precise impact of policies in remote areas.
Definitions of Terms
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Digital Banking: The use of digital platforms and technologies, such as mobile applications and internet banking, to provide financial services to customers.
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Financial Inclusion: The availability and accessibility of financial services to all individuals, especially those in underserved or rural areas, to promote economic participation.
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Fintech: Financial technology innovations that provide digital solutions for financial services, including mobile payments, online lending, and digital banking platforms.
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