Mobile Money in Nigeria: The User Experience

This case study provides a better understanding of the factors that are impeding customers’ active engagement with mobile money (MM) in Nigeria. It is based on the analysis of 32 users and eight agents regarding the use of two MM services in the cities of Lagos and Ibadan. The study states that almost 57% of Nigerian adults do not have access to formal financial services, but 64% of the adult population owns a mobile phone, and 84% have access to one. Hence, it suggests that mobile financial services in Nigeria have enormous potential to further financial inclusion in Nigeria. The study also discusses the advantages and obstacles of using mobile money and provides recommendations to improve user experience.