| Popis: |
The study investigates the determinants of financial inclusion of farmers in Ogba Local Government Area (ONELGA) of Rivers State, Nigeria. Data were collected with the aid of two sets of structured questionnaires. The data were analyzed with the use of descriptive statistics and binary logit regression analysis. The finding showed that 68.3% of the respondents were female, while 31.7% were male. Financial products and services mostly accessed by the respondents were SMS Alert, Savings account and Automated Teller machine (ATM) card. It was also found that farming status's coefficient is positive and significant at 10%, the coefficient of estimated annual income is also positive and significant at 10%. Same with the coefficient of educational status, positive and significant at 1%. The major constraints to accessing financial products and services among others were observed to be high interest rate on loan, poor banking services and long queues at ATM. The study recommends that the Central Bank of Nigeria, in collaboration with the government, should monitor banks' interest rates on loans in order to discourage high interest, and also regulate banks to be providing services that yield high level of customer satisfaction. Because educational status is a significant factor of financial inclusion, government should provide an enabling environment for education to those who are less privileged to assist them. |
