THE DIGITAL FINANCIAL INCLUSION AND POVERTY ALLEVIATION: ASSESSING THE ROLE OF MOBILE BANKING PLATFORMS IN DRIVING RURAL ECONOMIC DEVELOPMENT

This study examined the relationship between digital financial inclusion and poverty alleviation, with
particular focus on assessing the role of mobile banking platforms in driving rural economic development
in Nigeria. The study was motivated by the persistent problem of financial exclusion and widespread
poverty among rural dwellers despite ongoing government interventions and financial sector reforms. The
study specifically investigated how mobile banking platforms enhance access to financial services and how
such access contributes to poverty reduction and improved socio-economic conditions in rural
communities. A descriptive survey research design was adopted for the study. The population consisted of
rural dwellers, including farmers, traders, artisans, and small-scale entrepreneurs who utilize or have access
to mobile banking services. A sample size of 286 respondents was selected using the Taro Yamane
sampling technique. Data were collected using a structured questionnaire designed on a five-point Likert
scale. The instrument was validated by experts and tested for reliability using Cronbach Alpha method.
Data collected were analyzed using descriptive statistics such as mean and standard deviation, while
Pearson Product Moment Correlation (PPMC) was used to test the hypothesis at 0.05 level of significance.
The findings revealed that digital financial inclusion has a significant positive effect on poverty alleviation
among rural dwellers in Nigeria (Grand Mean = 3.98). The study also found that mobile banking platforms
enhance access to financial services in rural communities to a high extent (Grand Mean = 4.13).
Furthermore, there is a strong and statistically significant relationship between mobile banking platforms
and poverty alleviation among rural dwellers in Nigeria (r = 0.742, p < 0.05). The study concluded that
mobile banking platforms play a crucial role in promoting financial inclusion, reducing poverty, and
improving rural economic development in Nigeria. Based on the findings, it was recommended that
government and financial institutions should strengthen digital financial infrastructure, improve financial
literacy, and expand mobile banking services in rural areas to enhance economic empowerment and
sustainable development.

Funding: This is a self-funded research

Conflict of Interest: The authors declare no conflicts of interest.

Ethics Approval: Not_applicable

Data Availability: Data will be made available upon reasonable request

AI-Assisted Writing: No AI tools were used in the preparation of this manuscript.