INFLUENCE OF COOPERATIVES ON FINANCIAL INCLUSION OF MEMBERS OF AGRICULTURAL COOPERATIVES IN ANAMBRA AND AWKA AGRICULTURAL ZONES, ANAMBRA STATE NIGERIA

Abstract

The study examined the Influence of Cooperatives on Financial Inclusion of Members of Agricultural Cooperatives in Anambra and Awka Agricultural zones, Anambra State, Nigeria. The study was motivated by the need to deliver quality financial services at an affordable cost to the vast sections of disadvantaged and low-income groups at the various levels of government in Nigeria, particularly in Anambra State.

The study was anchored on the public good theory of financial inclusion. The area of study is Anambra state where 383 members of agricultural cooperatives were selected from 865 registered agricultural cooperatives across Anambra and Awka agricultural zones. The instrument used for data collection was the questionnaire.

The study employed regression technique, one sample t-test, mean, frequency, and percentage in analyzing the data obtained. The study found that the savings procedure and credit operations procedure of the cooperative had significant effects on the financial inclusion of members in Anambra State at 5% level of significance.

Therefore, the study recommends, among others, that governments at all levels in the State should improve their cooperative promotion efforts, to attract more people into cooperative membership to enhance financial inclusion in rural areas.