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Financial inclusion is a global initiative designed to bring on board the unbanked or financially excluded segment of the population into financial sector. The present study examines the nexus between financial inclusion and financial literacy, and possible implication to persons with disabilities in Funtua local government. Quantitative research designed was adopted, and primary type of data is employed which include questionnaire, interview and focus group discussion. Cluster sampling technique is used in the study, where two (2) groups of persons with disabilities are selected; these are blind/visual impaired and physically impaired. The population of the study covers all persons with disabilities in Funtua, while ninety (90) respondents are selected from the two groups to represent the whole population. Table, percentage, OLS regression and Pairwise correlation were employed as methods to analyse the data. The study has failed to established financial literacy as an impediment to the realization of financial inclusion agenda, most especially to persons with disabilities; rather it is the low level of income, poverty and unemployment that contribute significantly to low access to financial services or financial inclusion. Unexpectedly, the study found a high financial literacy among PwDs which was attributed to advancement in communication technology and digital financial economy initiated by government, particular period after Covid-19 lockdown. Therefore, the study recommends that government should create employment opportunities targeting mainly PwDs, this will go a long way in ensuring regular income and poverty reduction. Also the need for Banks to improve on services provision and to overcome all challenges related to network glitches, so as to restore confidence on the Banking system and make their products and service more accessible and attractive.
Faruk et al. (Thu,) studied this question.