Financial Technology Adoption, Digital Transaction Innovation and Poverty Alleviation in Nigeria

                @article{CRSIJ26000526,
                  author = {OKPE, Chidera Oliver, Duru, Franklin Uche, Fort-Edward, Uchenna Ugochi, Nnadozie, Angeline Chinyere, Igwegbe, Obinna Anthony, Chukwu, Urom Ogbonnia, Wali, Prosper Chinedu},
                  title = {Financial Technology Adoption, Digital Transaction Innovation and Poverty Alleviation in Nigeria},
                  journal = {Cosmo Research and Science International Journal},
                  year = {2026},
                  volume = {2},
                  number = {3},
                  pages = {67-85},
                  issn = {3108-1584},
                  url = {https://cosmorsij.com/published/CRSIJ26000526.pdf},
                  abstract = {Financial technology has increasingly transformed the delivery of financial services in developing economies, yet the extent to which expanding digital financial access translate into improved living standards remains an important empirical question in Nigeria. This study examines the relationship between financial technology access, innovative fin-tech transactions and poverty alleviation in Nigeria over the period 2010-2022. The study is motivated by the rapid expansion of digital financial services alongside persistent welfare challenges in the country and the limited empirical evidence distinguishing general fin tech penetration from the effect of innovative digital transactions. Annual financial and macroeconomic observations were converted to monthly series to increase the number of observations. Fin tech access was measured by the ratio of aggregate electronic financial transactions to gross domestic product, while poverty alleviation was peroxide by per-capita income. Innovative fin tech transactions were peroxide by incorporated transactions associated with emerging digital payments, including block chain related services. The study employed unit root and counteraction test, granger causality analysis and a simultaneous equation model estimated using the two stages least squares (2SLS) to account for the potential endo genetic between fin tech access and poverty alleviation. The study revealed a significant relationship between fin tech access and poverty alleviation, although the estimated coefficient of fin tech access in the poverty equation is negative. In contrast, innovative fin tech transactions exert a positive and statistically significant effect on per capita income. The results also indicate bidirectional granger causality between fin tech access and poverty alleviation, suggesting that the relationship is not exclusively one-directional. The study concludes that expanding digital financial activity alone may not automatically translate into improved welfare; the nature, accessibility and productive use innovative financial are important. Policies should therefore focus on broadening meaningful digital financial access, supporting digitalization among small businesses and strengthening the infrastructure required for innovative financial transactions.},
                  keywords = {Financial technology; Fin Tech access; innovative Fin Tech; digital transactions; poverty alleviation; per-capita income; Nigeria},
                  month = {November}
        }