Effects of Mobile Money and Agency Banking on Financial Inclusion in Rivers State, Nigeria
This study takes a closer look at how mobile money and agency banking are influencing financial inclusion in Rivers State, Nigeria. Using a mixed-methods approach, the research combines quantitative data from 400 survey participants with qualitative insights gathered from 50 interviews and focus group discussions in five carefully chosen cities: Port Harcourt, Obio/Akpor, Khana, Eleme, and Omoku. These cities provide a diverse mix of urban, semi-urban, and rural environments. The analysis, both descriptive and inferential, shows a strong, positive connection between mobile money, agency banking, and financial inclusion, with Pearson correlation coefficients soaring above 0.98. The study also reveals demographic differences, indicating that individuals aged 30–39 and those with graduate or post-graduate degrees are using these services more frequently. On the qualitative side, participants pointed out significant challenges like gaps in digital literacy, limited agent availability in remote areas, and infrastructure issues. Overall, the findings confirm that mobile money and agency banking play a crucial role in boosting financial inclusion, though their effects vary across different population groups. The study suggests implementing targeted digital literacy programs, investing in agent networks, and providing policy support to broaden access to financial services for everyone.
Iwedii, M., Sipoto-Pepple, A. U., & Onyia, F. M. (2026). Effects of Mobile Money and Agency Banking on Financial Inclusion in Rivers State, Nigeria. International Journal of Global Humanities and Management Insights (IJGHMI), 2(2), 1–12. https://doi.org/10.63665/ijghmi-y2f2a005
The results from this research establish strong empirical data that illustrate how mobile money and agency banking play a crucial role in achieving financial inclusion in Rivers State, Nigeria. The descriptive statistics display fairly high usage levels for mobile money (mean = 3.04) and agency banking (mean = 3.13), with financial inclusion being rated slightly higher (mean = 3.20), indicating a positive view and level of engagement. The demographic statistics show that financial inclusion is high for people between 30–39 years old and also those with a graduate or post-graduate degree, showing the impact of age and education in digital financial adoption. The lower representation of people younger than 30, those over 50 and those with a diploma or no qualifications, however, indicates a gap in generational and educational lines. The correlation statistics also support the hypothesis of the study, showing very strong, statistically significant positive relationships between mobile money, agency banking, and financial inclusion, with all correlation coefficients greater than 0.98 and significant at the 1% level, suggesting a high level of complementarity between mobile and agency banking in financial inclusion. This is supported by the graph of linear regression (R² = 0.985), which clearly indicates that a higher usage of mobile banking predicts agency banking significantly and vice versa. This dependency indicates that these two channels of delivering financial services constitute an integrated system which is responsible for disseminating financial services to underserved segments. Collectively, these findings confirm and validate that mobile money and agency banking services not only operate side by side but also complement each other, in terms of expanding the financial frontier, especially in environments where conventional banks lack fully.
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