The Impact of Fintech on Financial Development in Nigeria between years 2002 - 2021


Financial Technology popularly referred to as “Fintech”, has been said to be a financial innovation facilitated by technology to change the way financial goods or services- like insurance, loans and investment are accessed by businesses and individuals. Fintech has introduced a new dimension into the Financial System of Nigeria, however there are very limited empirical studies into the relationship between Fintech and Financial development due to data limitations. Hence, this study seeks to employ variables that depicts Financial Inclusion and GDP growth using the World Bank Global Financial Development 4x2 framework, as indexes to assess “Nigerian financial development”. This will cover 2002 to 2013 being the pre-Fintech prominence era in comparison to period 2014 to 2021 as the Fintech prominence era. Fintech activities in Lending, Mobile Banking, Savings and Investment spaces will serve as a measure for impact in this study. Longitudinal quantitative time series data will be collected and checked for stationarity using Augmented Dicker Fuller test to ensure unit root. The sample size will be at least two-third of Fintech Companies operating within the ecosystem relevant to the research, ensuring that the data is a true representation. The Ordinary Least Square regression model will be the testing method to check for correlation between variables within the model, which will explain how Fintech drives Financial Development. The finding will provide stakeholders with insight into the extent of financial development achieved in Nigeria within the 8 years of Fintech prominence while examining possible challenges that may have risen.



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George, Yinka (Oxford Brookes Business School)


Supervisors: Le Riche, Antoine

Oxford Brookes departments

Oxford Brookes Business School
Department of Accounting, Finance and Economics


Year: 2023



© George, Yinka
Published by Oxford Brookes University
All rights reserved.

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