Mobile Money and Digital Financial Services Ecosystem in Adamawa State

Abstract

Financial inclusion is essential for economic development, especially in regions with limited access to formal banking systems. In Adamawa State, Nigeria, mobile money and digital financial services have emerged as innovative tools for bridging this gap. This study investigates the awareness, adoption, usage, and socioeconomic impact of these services in the state. Using survey data from 220 respondents and supported by literature, the findings reveal high levels of awareness and usage, significant economic benefits, but also persistent infrastructural and educational barriers. Recommendations are provided for improving service quality, expanding access, and promoting digital literacy.