Impact of Religion and Culture on Financial Inclusion in Katsina State, Nigeria

Abstract

^{This study examines the impact of religion and culture on financial inclusion in Katsina State, Nigeria. The study employed a cross-sectional survey method to collect primary data from a sample of 450 unbanked adults drawn from nine distinct local government areas distributed across the three senatorial zones within the state. The collected data were analyzed using descriptive statistics and logistic regression approach. The results indicate that religious and cultural factors exhibit a detrimental influence on financial inclusion within Katsina State, Nigeria. These findings suggest that individuals' adherence to religious beliefs and cultural norms can hinder their engagement with financial services and inclusion initiatives. In light of these findings, the study offers several recommendations. Firstly, there is a call for tailored financial literacy programs that acknowledge and accommodate the specific religious and cultural contexts of Katsina State. Such initiatives could help alleviate the negative impact of these factors on financial inclusion. Additionally, collaboration among financial institutions, policy makers, and community leaders becomes imperative. By working together, they can formulate workable strategies that address these hindrances while respecting the values and practices inherent in the religious and cultural fabric of the state}