Managing Financial Inclusion Strategies and Economic Stimulation Effect in Nigeria within the COVID

In order to predict the future paths of the Nigerian economy's response to financial inclusion actions, it's important to look into the relationship between financial inclusion strategies during the Covid-19 scourge and the economic stimulus effect during that period. This study evaluated financial inclusion policies and the economic stimulus effect in Nigeria during the Covid-19 period against this backdrop and taking stock of the past. Financial accessibility (FA), capital market (CM) inclusion, insurance sector (IS) inclusion, informal financial product (FP), money outside (MO) the banking system were all considered in the assessment.For financial inclusion strategies, the Informal Sector Mobilized Deposit (DM) was used, while the GDP per capita was used as a proxy for the economic stimulus effect. The research used time series data from the Central Bank of Nigeria's Statistical Bulletin between 1992 and 2019, and then applied the Autoregressive Distributed Lag (ARDL) technique to the analysis. The study discovered a negative and important connection between money outside of the banking system, the insurance industry, and economic stimulation.However, the study discovered a positive but negligible relationship between DM, FA, FP, and CM and economic stimulation in Nigeria during the Covid-19 period. To reach Nigeria's vulnerable and rural excluded population, the study proposed a complete and deepen financial inclusion society. Finally, traditional banks should expand their ATM retail outlets and financial education, especially in rural areas.

Please see the link :- https://globalpresshub.com/index.php/ARJOCS/article/view/1000