Exploring Determinants of Financial Inclusion in Nigeria: A Literature Review through the Lens of the Theory of Planned Behavior

Abstract

This paper investigates the complexities of financial inclusion in Nigeria, exploring the factors that shape its landscape. Amidst Nigeria's evolving socio-economic context, financial inclusion, characterized by access to formal financial services, plays an essential role in poverty reduction and economic growth. The study adopted a content analysis method using empirically verified literature. The study uncover the core determinants of financial inclusion within Nigeria through the lens of the Theory of Planned Behavior (TPB). By inspecting the attitudes, subjective norms, and perceived behavioral control of individuals, it aims to shed light on the complex dimensions of financial inclusion in Africa's largest economy. This research contributes to the field of financial inclusion by offering a comprehensive analysis grounded in a well-established theoretical framework and provides actionable policy recommendations inform of promoting positive attitude towards financial literacy, and harnessing social influence through community engagement, to advance financial inclusion initiatives.