Bank or similar financial institution account, out of laborforce in Nigeria

Nigeria: Bank or similar financial institution account, out of laborforce was 40.6% in 2024. ▲ Rising

Latest (2024)
40.6%
Change on year
up 38.2%
World rank
70th
of 98 countries
All-time high
40.6%
in 2024
All-time low
20.6%
in 2011
Years of data
5
2011–2024

Bank or similar financial institution account, out of laborforce in Nigeria, 2011–2024

0102030402011201720242011: 20.6 % age 15+2014: 33 % age 15+2017: 33.7 % age 15+2021: 29.3 % age 15+2024: 40.6 % age 15+

Source: World Bank. Measured in % age 15+.

Analysis

In 2024, bank or similar financial institution account, out of laborforce in Nigeria stood at 40.6%. That is the highest value across all 5 years on record.

The figure is up 38.2% on the previous year and up 23.0% over ten years.

Over the whole period, bank or similar financial institution account, out of laborforce in Nigeria peaked at 40.6% in 2024 and was at its lowest, 20.6%, in 2011.

That places Nigeria 70th out of 98 countries with data for 2024, putting it in the middle of the range.

Bank or similar financial institution account, out of laborforce in Nigeria, year by year

Annual values for Bank or similar financial institution account, out of laborforce (% age 15+) in Nigeria, 2011 to 2024.
Year % age 15+ Change
2011 20.6%
2014 33.0% +60.1%
2017 33.7% +2.2%
2021 29.3% -12.9%
2024 40.6% +38.2%

Averages by decade

DecadeAverage LowestHighest Years
2010s 29.1% 20.6% 33.7% 3
2020s 35.0% 29.3% 40.6% 2

Countries ranked near Nigeria

  1. 67 Azerbaijan 40.9% compare
  2. 68 Bolivia, Plurinational State of 40.8% compare
  3. 69 Viet Nam 40.7% compare
  4. 71 Jordan 32.8% compare
  5. 72 Peru 30.1% compare
  6. 73 Palestine, State of 30.0% compare

See the full ranking of 110 places →

More reference data data for Nigeria

All data for Nigeria →

Frequently asked questions

What is bank or similar financial institution account, out of laborforce in Nigeria?
Bank or similar financial institution account, out of laborforce in Nigeria was 40.6% in 2024, according to the World Bank.
What is the highest bank or similar financial institution account, out of laborforce recorded in Nigeria?
The highest recorded value was 40.6% in 2024.
What is the lowest bank or similar financial institution account, out of laborforce recorded in Nigeria?
The lowest recorded value was 20.6% in 2011.
How does Nigeria rank for bank or similar financial institution account, out of laborforce?
Nigeria ranks 70th out of 98 countries with data for 2024.
Is bank or similar financial institution account, out of laborforce rising or falling in Nigeria?
Over the last ten years it is up 23.0%. The long-run trend across the full record is rising.
Where does this Nigeria data come from?
The figures come from the World Bank, published as part of Bank or similar financial institution account, out of laborforce (% age 15+). Statizoid updates them automatically from the source API.

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Bank or similar financial institution account, out of laborforce in Nigeria. Statizoid. Retrieved 11 September 2026, from https://reference.statizoid.com/stat/bank-or-similar-financial-institution-account-out-of-laborforce-percent-age-15/nigeria/

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About this data

Indicator
Bank or similar financial institution account, out of laborforce (% age 15+)
Unit
% age 15+
Source
World Bank
Licence
CC BY 4.0 (World Bank Open Data)
Coverage
110 places, 550 data points, 2011–2024
Last refreshed