FINANCIAL INCLUSION, CORRUPTION, POLITICAL INSTABILITY AND ECONOMIC GROWTH IN NIGERIA

Abstract

Financial inclusion, in terms of adoption or usage, is one of the main but challenging priorities in Nigeria. This research work investigates the impact of financial inclusion, corruption and political instability on the economic growth of Nigeria employing the ARDL method of analysis to examine the impact of financial inclusion on economic growth. The findings revealed that financial inclusion and literacy level enhance economic growth in Nigeria whereas political instability dampens growth outcomes. Corruption was found to impede financial inclusion efforts both in the long run and short run, though it is insignificant in the long run but significant in the short run. The study therefore recommends amongst others the promotion of Financial Inclusion through technological innovations Policies, Stabilizing the political environment by ensuring smooth transition of power, combating corruption by strengthening anti-corruption bodies and improving literacy with Financial Education through targeted financial education.