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Post COVID-19 and the Acceptance of Financial Inclusion as a New Normal in Financial Transactions: Implications for Nigerian Accountants and Other Financial Service Providers

Author

Listed:
  • Uwem E. Uwah
  • Joseph O. Udoayang
  • Peter A. Uklala

Abstract

This study examined the preparedness of financial service providers to launch into the post COVID-19 era, using financial inclusion as a new normal in their clients’ financial needs. The study adopted the survey research design, using a judgmental sampling technique. The questionnaire was used as the method of collecting data from 102 respondents, drawn from accounting firms, insurance companies, financial houses and pension fund administrators in Nigeria. With the aid of descriptive and inferential statistics, the hypotheses were tested at 5% level of significance. The findings revealed that there is a significant relationship between the socio-economic development structure in Nigeria and the acceptance of financial inclusion as a new normal in financial transactions. It was recommended that the public and private financial institutions be ready to provide the enabling environment for financial technology to thrive as a driver for financial inclusion in the Nigerian developing economy.

Suggested Citation

  • Uwem E. Uwah & Joseph O. Udoayang & Peter A. Uklala, 2022. "Post COVID-19 and the Acceptance of Financial Inclusion as a New Normal in Financial Transactions: Implications for Nigerian Accountants and Other Financial Service Providers," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 8(3), pages 193-214, July.
    • Handle: RePEc:ate:journl:ajbev8i3-1
    DOI: 10.30958/ajbe.8-3-1
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    References listed on IDEAS

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    3. Ms. Ratna Sahay & Mr. Ulric Eriksson von Allmen & Ms. Amina Lahreche & Purva Khera & Ms. Sumiko Ogawa & Majid Bazarbash & Ms. Kimberly Beaton, 2020. "The Promise of Fintech: Financial Inclusion in the Post COVID-19 Era," IMF Departmental Papers / Policy Papers 2020/009, International Monetary Fund.
    4. Supriyo De & Ergys Islamaj & M. Ayhan Kose & S. Reza Yousefi, 2019. "Remittances over the business cycle: Theory and evidence," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 48(3), November.
    5. Vighneswara Swamy P M, 2011. "Financial Inclusion in India: An Evaluation of the Coverage, Progress and Trends," The IUP Journal of Financial Economics, IUP Publications, vol. 0(2), pages 7-26, June.
    6. Hannig, Alfred & Jansen, Stefan, 2010. "Financial Inclusion and Financial Stability: Current Policy Issues," ADBI Working Papers 259, Asian Development Bank Institute.
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    Cited by:

    1. Gregory T. Papanikos, 2024. "The Future of Globalization," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 10(2), pages 87-108, April.

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