INTERNET BANKING ACCESSIBILITY AND FINANCIAL INCLUSION: AN ANALYSIS OF RURAL HOUSEHOLDS IN LAGOS STATE

Abstract

This study examined the effect of internet banking accessibility on financial inclusion among rural households in Lagos State, Nigeria. A quantitative research design, using a cross-sectional survey design, was employed. Primary data were collected using structured questionnaires from 250 respondents sampled from rural areas in Lagos State via a multistage sampling procedure. Descriptive statistics and multiple regression analysis were used to analyse the data collected. The findings indicate a relatively high level of internet banking access and adoption among rural dwellers. The regression analysis shows a significant positive effect of internet banking access on financial inclusion. Also, factors such as ease of use, availability of internet services, security and trust significantly affected financial inclusion. On the other hand, poor internet connectivity, high data costs, security challenges, and electricity outages remain major challenges in adopting internet banking.