Nigeria’s financial inclusion is growing, but access to credit still lags

This is Follow the Money, our weekly series that unpacks the earnings, business, and scaling strategies of African fintechs, financial institutions, companies, and governments. A new edition drops every Monday.

Nigeria has made progress in bringing more people into the formal financial system, but having a bank account does not necessarily mean being able to obtain a loan. While more Nigerians can now access financial services, borrowing costs, limited credit histories, and irregular incomes still shape who can obtain formal…