Migrant remittances and financial inclusion among households in Nigeria

Joseph Ajefu, Joseph O. Ogebe

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)
2 Downloads (Pure)

Abstract

This article investigates the impact of remittances on financial inclusion, using the 2009 World Bank’s Migration and Remittances Household Survey data for Nigeria. An instrumental variable estimation technique was used to estimate the impact of remittances on financial inclusion, and migrant network effect was used as an instrument to control for potential endogeneity between remittance and financial inclusion. This article finds that the receipt of remittances increases the probability of using formal financial services, such as deposit accounts and Internet/mobile banking. This article concludes that reducing barriers and costs to remittance inflows can improve the access to and use of formal financial services in Nigeria, which can lead to an increase in funds for investments and the economic growth of the country.
Original languageEnglish
Pages (from-to)319-335
Number of pages16
JournalOxford Development Studies
Volume47
Issue number3
Early online date12 Feb 2019
DOIs
Publication statusPublished - 3 Jul 2019
Externally publishedYes

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