Problems and Prospects of Rural Banking in Nigeria
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Date
1991
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Management in Nigeria
Abstract
Rural banking in Nigeria plays a crucial role in promoting financial inclusion, agricultural development, and poverty reduction in underserved communities. Despite its importance, the sector faces numerous challenges, including inadequate infrastructure, low literacy levels, poor loan repayment culture, and limited access to modern financial technologies. Additionally, issues such as regulatory constraints and insufficient capital base hinder the effective operation of rural financial institutions. However, the prospects of rural banking remain promising due to the increasing adoption of digital banking solutions, government intervention programs, and the expansion of microfinance institutions. Strengthening rural banking systems can enhance economic growth, empower small-scale farmers and entrepreneurs, and bridge the financial gap between urban and rural areas in Nigeria.
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Citation
Yalokwu Patrick O (1991). Problems and prospects of rural banking in Nigeria. Management in Nigeria, 27(2).