Department of Banking and Finance

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Author: search.filters.author.Omankhanlen, Alexander EhimareSubject: search.filters.subject.Financial Inclusion

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    Artificial Intelligence Application and Financial Inclusion Nexus on Sustainable Development Goals (SDGs) in Nigeria
    (Journal of Psothumanism Vol 5 No &, 2025) Omankhanlen, Alexander Ehimare; Jegede, Wuraola Pelumi; Nwobodo, Helen
    This study evaluated Artificial Intelligence Applications and Financial Inclusion Nexus in Nigeria. Financial institutions have always had the problem of meeting the financial needs of the low-income group in society, though, they have done their best to meet their needs, their effort have not yielded good results. Getting individuals and businesses into the formal financial net has been a problem. The present SDGs as constituted rest more on inclusiveness, especially financial inclusion. The SDGs comprise an ambitious 17 goals. While the Sustainable Development Goals (SDGs) do not explicitly address financial inclusion, increased access to financial services is a crucial facilitator for achieving many goals. The financial institutions and products are not suited for the low-income group in society, in addition, rural dwellers do not have access to financial institutions and products. The study used survey instruments and interviews for data collection. That is. using the mixed research method with data from three hundred and eighty-four respondents selected from rural communities, financial institutions, and universities in South-West Nigeria. The data were analysed using descriptive statistics, confirmatory factor analysis, regression analysis, structural equation model (SEM), and narrative technique. The results indicate that AI applications have significantly impacted financial inclusion in South-West Nigeria. Based on this, the study recommended that financial institutions invest in building AI-enabled platforms in local languages that will respond to customers’ needs.
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    Monetary Policy Rate And Poverty Reduction In Nigeria: The Role Of Microfinance Banks
    (Jurnal Akuntansi dan Bisnis : Jurnal Program Studi Akuntansi., 2025) Adesina, Tolulope; Makinde, Damilola Ayomiposi; Omankhanlen, Alexander Ehimare
    Poverty remains a major socio-economic challenge in Nigeria, despite the expansion of microfinance banking aimed at enhancing credit access for low-income groups. However, the effectiveness of microfinance banks (MFBs) in reducing poverty is increasingly shaped by macroeconomic conditions, particularly the Monetary Policy Rate (MPR), which sets benchmark interest rates across the financial system. High MPRs raise borrowing costs, making loans less affordable for the poor and small-scale entrepreneurs who depend on MFBs for credit. This study investigates the impact of changes in the MPR on poverty reduction in Nigeria, focusing on how monetary policy influences the lending capacity of microfinance institutions. The study is theoretically grounded primarily in the Keynesian Theory of Interest Rate and Investment and the Monetary Transmission Mechanism Theory, which explain how changes in interest rates influence investment and credit flows in the economy. The Credit Rationing Theory further informs understanding of how lending constraints affect credit availability for low-income borrowers. A quantitative approach is adopted, using quarterly time-series data from 2008 to 2023. The Johansen Cointegration Test and Vector Error Correction Model (VECM) are employed to examine both long-run and short-run relationships among key variables. Results show that a 1% increase in MPR leads to an estimated 0.48 percentage point rise in the national poverty rate. In contrast, increases in the loan-to-deposit ratio and capital adequacy ratio of MFBs are associated with reductions in poverty levels. The study concludes that monetary policy decisions significantly affect poverty outcomes through their influence on microfinance operations. It recommends that policymakers adopt inclusive monetary strategies that support affordable microcredit, while maintaining macroeconomic stability, to enhance financial inclusion and reduce poverty.