Customers are turning to formal channels that use digital and mobile technologies for remittances because these are often able to offer services at lower costs. As more customers turn to formal services, remittances will have an even stronger developmental impact, notably in countries where protracted humanitarian crises affect large numbers of people.
Under the right circumstances, financial inclusion, stability, integrity, and consumer protection (collectively referred to as I-SIP) can be positively related, and the failure to consider any one of these objectives can lead to problems.
Over three-quarters of the population in Nigeria are involved in the agriculture sector. Yet despite their active financial and agricultural lives, smallholders in Nigeria have few tools to manage their irregular and volatile household cash flows.