Digital Financial Inclusion and Economic Resilience in Nigeria Amid Geo-economic Fragmentation: A Systematic Literature Review

Abstract

Nigeria is navigating an era of intensifying geo-economic fragmentation, volatile commodity markets, and structural fiscal constraints, even as the digital financial ecosystem has expanded rapidly since 2020. This study adopts the SLR approach, enforced by the PRISMA 2020 reporting guidelines, to synthesise literature between 2020 and 2026 on the relationship between digital Financial Inclusion, financial markets development, and economic resilience in Nigeria. Sixty-one records were initially identified in multiple repositories: after screening for reference duplication and methodological transparency, 31 studies met the inclusive criteria and were thematically analysed. The review finds that mobile money, agent banking, pos platforms and the e-Naira, CBN's digital currency, have measurably expanded the reach of formal financial services participation for previously unbanked and rural populations, but usage inclusion gaps, weak digital literacy and infrastructure deficit continue to constrain the depth of inclusion. It further finds that digital Financial deepening is associated with improved household and firm-level resilience to income and price shocks, and that Nigeria's growing non-oil services -led growth trajectory is particularly attributed to fintech -enabled sectors, such as telecommunications and financial services. The study concludes with policy recommendations that the Nigerian government, CBN and other relevant stakeholders should intensify investment in digital infrastructure. This will help reduce persistent access and usage gaps and promote inclusive participation in the digital financial ecosystem. Government and fintech companies should expand financial and digital literacy programmes, particularly among rural households, women, low-income groups and other financially excluded populations.