IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 11 NO. 1 2025
DOI: 10.56201/jafm.vol.11.no1.2025.pg112.127

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Financial Literacy and Education in Nigeria: An Accounting Perspective

Obot Akpan Udoh

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Abstract

This paper examines the current state of financial literacy and education in Nigeria from an accounting perspective. This study adopts a mixed-methods approach, combining qualitative and quantitative research methods to provide a comprehensive analysis of financial literacy in Nigeria. From results, there was a strong Negative Relationship by (-0.6529) between Financial Education Exposure and Age. In the correlation analysis between Financial Education Exposure and Gender suggested that gender has no impact on financial education exposure in this dataset. This is encouraging as it implies financial education programs have been equally accessible to males and females. In general observation, the results highlight disparities in financial education exposure by age and location, which could have long-term implications for financial decision-making and economic stability in these groups. The logistic regression analysis identified, older individuals are significantly less likely to have financial education exposure (p = 0.0005). Gender does not significantly influence financial education exposure (p = 0.5621). Also, living in a rural area significantly reduces the likelihood of financial education exposure (p = 0.0058). On the whole, the logistic regression model provides important insights into the factors influencing financial education exposure. More so, the logistic regression results emphasize the need for targeted and inclusive financial education programs. Significant predictors, such as age and location, indicate that older individuals and rural residents face substantial barriers to exposure. The recommendation in general established Leverage digital tools and platforms to expand financial education access in rural areas. Also, recommendations include improved policy frameworks, integration of accounting in early education, and collaboration between stakeholders to promote financial literacy.

keywords:

Financial literacy, accounting education, Nigeria, financial management

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References:

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