The top financial institution in the world, World Bank has revealed that 118 million Nigerians do not have bank accounts.
In a report made available in the latest Global Findex Database report released on Thursday at the ongoing Spring meetings of the International Monetary Fund and World Bank in Washington DC. World Bank claimed that Nigeria and six other countries are home to nearly half of the 1.7 billion people who do not have bank accounts.
“Globally, about 1.7 billion adults remain unbanked—without an account at a financial institution or through a mobile money provider. Indeed, nearly half live in just seven developing economies: Bangladesh, China, India, Indonesia, Mexico, Nigeria, and Pakistan.” the report read.
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