Examining Inequality Rate with Account Ownership in Nigeria: A Gender Based Perspective

This study investigates the relationship between account ownership and inequality rates in Nigeria from 2000 to 2024, employing Financial Intermediation Theory and Gender and Development (GAD) Theory as its conceptual frameworks. Financial Intermediation Theory explains how financial institutions catalyze economic growth, while GAD Theory addresses gender disparities and their socioeconomic implications. By integrating these perspectives, the research scrutinizes how financial inclusion, particularly through account ownership by males, females, and the total population, influences inequality levels within Nigeria. Utilizing an ex post facto research design, this study analyzes secondary, time-series data sourced from the World Bank’s World Development Indicators. The Autoregressive Distributed Lag (ARDL) model is employed to estimate the effects of account ownership on inequality over the 25-year period. Findings reveal that female account ownership correlates positively and significantly with inequality (coefficient = 0.35, p = 0.00), suggesting that increased female financial inclusion alone may not reduce inequality without addressing structural barriers. Conversely, male account ownership (coefficient = -0.07, p = 0.00) and total population account ownership (coefficient = -0.16, p = 0.00) exhibit significant negative impacts on inequality, indicating that broader financial access helps reduce disparity. The study concludes that account ownership has nuanced effects on inequality, highlighting the need for gender-sensitive policies that promote inclusive financial literacy and access.

Account Ownership, Inequality, Financial Inclusion, Gender, Autoregressive Distributed Lag (ARDL) model.

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