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Adoption and Use of Mobile Money Services in Nigeria

Adoption and Use of Mobile Money Services in Nigeria

Olayinka David-West, Immanuel Ovemeso Umukoro, Omotayo Muritala
Copyright: © 2019 |Pages: 18
ISBN13: 9781522577669|ISBN10: 1522577661|EISBN13: 9781522577676
DOI: 10.4018/978-1-5225-7766-9.ch014
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MLA

David-West, Olayinka, et al. "Adoption and Use of Mobile Money Services in Nigeria." Advanced Methodologies and Technologies in Digital Marketing and Entrepreneurship, edited by Mehdi Khosrow-Pour, D.B.A., IGI Global, 2019, pp. 175-192. https://doi.org/10.4018/978-1-5225-7766-9.ch014

APA

David-West, O., Umukoro, I. O., & Muritala, O. (2019). Adoption and Use of Mobile Money Services in Nigeria. In M. Khosrow-Pour, D.B.A. (Ed.), Advanced Methodologies and Technologies in Digital Marketing and Entrepreneurship (pp. 175-192). IGI Global. https://doi.org/10.4018/978-1-5225-7766-9.ch014

Chicago

David-West, Olayinka, Immanuel Ovemeso Umukoro, and Omotayo Muritala. "Adoption and Use of Mobile Money Services in Nigeria." In Advanced Methodologies and Technologies in Digital Marketing and Entrepreneurship, edited by Mehdi Khosrow-Pour, D.B.A., 175-192. Hershey, PA: IGI Global, 2019. https://doi.org/10.4018/978-1-5225-7766-9.ch014

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Abstract

Nigeria, like many developing economies, has been fighting financial exclusion through different mechanisms and with a financial inclusion target set at 80% by 2020 by its National Financial Inclusion Strategy, and mobile money has been identified as a platform for achieving this goal. Consequently, 21 mobile money operators were licensed by the apex bank (Central Bank of Nigeria) to provide mobile money services to millions of Nigerians as a means of bridging the gap between the financially served, the under-served, as well as the un-served. Using empirical evidence from two nationwide mobile money adoption and financial inclusion surveys, and a synthesis of technology acceptance and use models, this chapter explores the causes of mobile money adoption and extent of use across the adult population. It further provides recommendations to policymakers, mobile money operators, and agents, as well as institutions that support the enhancement of financial inclusion towards optimizing the benefits of mobile money and realization of the 80% financial inclusion target.

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