Citation:

Oyinloye Adenrele Abeke, Sule Magaji, Ibrahim Musa, Yahaya Ismail. "Analysis Of The Financial Inclusion Of Migrants In Lafia, Nasarawa State" International Research Journal of Economics and Management Studies, Vol. 4, No. 7, pp. 172-178, 2025.

Abstract:

This study analyses the financial inclusion of migrants in Lafia, Nasarawa State, recognising financial services as crucial for socioeconomic development, especially for vulnerable migrant populations who often face barriers such as low income and a lack of documentation. The research aimed to assess migrants' access to and usage of financial services, identify challenges, and explore institutional responses. A quantitative survey design was employed to collect data from 399 respondents, including both internal and cross-border migrants, using a structured questionnaire. Demographic analysis revealed a predominantly male, economically active, and relatively educated migrant population, with a significant portion self-employed and having resided in Lafia for 1-5 years. Surprisingly, the findings indicate a high level of financial inclusion: 76.2% reported having bank accounts and utilising financial services, 79.2% had access to credit facilities, and 61.7% regularly saved money through formal or informal systems. These results suggest a notable degree of financial integration among migrants in Lafia, challenging typical assumptions about their exclusion and providing valuable insights for policymakers and financial institutions aiming to enhance inclusive finance strategies.

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Keywords:

Financial Inclusion, Migrants, Lafia, Nasarawa State, Financial Services.