Diffusion of Innovations: Mobile Money Utility and Financial Inclusion in Nigeria. Insights from Agents and Unbanked Poor End Users

Olayinka David-West, Oluwasola Oni, Folajimi Ashiru

Research output: Contribution to journalArticlepeer-review

3 Citations (Scopus)
164 Downloads (Pure)


Despite a rigorous policy drive towards financial inclusion in Nigeria, and although the country has a high tele-density ratio, the vast unbanked largely poor remain excluded from the financial sector. Adopting a mixed method approach of the supplier and consumer sides of mobile money, using documentary analysis, focus groups, interviews, and surveys; this article relies on the diffusion of innovations theoretical framework to explore the utility of mobile money with a view to not only assess its application in the enhancement of financial inclusion, but also better tailor the current applications for these low-income users. We identify 4 factors (lack of customer demand and experimenters, lack of integration in the ecosystem, lack of trust and preference for effective local savings scheme and policy short-termism resulting in mobile money operational unsustainability) that are responsible for non-diffusion of mobile money. Our paper reveals interest dynamics that can advance a more long-term mobile money regulatory policy which takes care of the concerns of the unbanked poor.
Original languageEnglish
Pages (from-to)1753-1773
Number of pages21
JournalInformation Systems Frontiers
Issue number6
Early online date8 Sept 2021
Publication statusPublished - Dec 2022

Bibliographical note

The final publication is available at Springer via http://dx.doi.org/10.1007/s10796-021-10196-8

Copyright © and Moral Rights are retained by the author(s) and/ or other copyright owners. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This item cannot be reproduced or quoted extensively from without first obtaining permission in writing from the copyright holder(s). The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the copyright holders.


  • Adoption
  • Diffusion
  • Financial inclusion
  • Financial services
  • Mobile money
  • Unbanked

ASJC Scopus subject areas

  • Theoretical Computer Science
  • Software
  • Information Systems
  • Computer Networks and Communications


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