Gender equality in CICO agent networks: addressing recruitment and utilization challenges in Nigeria

Women remain underrepresented in digital financial service (DFS) delivery despite evidence that their participation can improve financial inclusion outcomes. This paper examines gender differences in the recruitment and participation of cash-in-cash-out (CICO) agents in Nigeria, employing a mixed-methods approach that combines quantitative and qualitative evidence. Using a four-stage sampling technique, we collected data from 238 randomly selected CICO agents, along with key informant interviews from 10 DFS institutions across the North Central and Southwest geopolitical zones, to capture both the demand- and supply-side dynamics of DFS in Nigeria. We employed descriptive statistics and regression models, and our results show that recruitment into CICO is significantly associated with agent’s age and educational status. While entry requirements, such as capital or collateral, are not significantly associated with women’s business performance. The most important barriers to women’s inclusion are insecurity, limited financial literacy, and weak digital skills. Our findings suggest that interventions combining improved security and targeted training could enhance women’s participation in DFS markets. By identifying the structural barriers and feasible policy solutions, the study contributes to the debate on gender equity in financial inclusion in Sub-Saharan Africa.