Population relying on informal financial services in Nigeria 2023, by drivers
In 2023, the majority of the population in Nigeria that used informal financial services relied on saving thrifts, at 11 percent. In the same year, nine percent of the population resorted to savings groups while eight percent used village associations. The usage of other informal financial service drivers such as cooperatives, money lenders, and microfinance institutions, reached a share of less than five percent each.