The Impact of COVID-19 Pandemic on the Financially Underbanked Segment of the Nigerian Population

The COVID-19 pandemic led to extraordinary worldwide economic disruptions that increased existing vulnerabilities in developing economies such as Nigeria. This paper examined the impact of the COVID-19 pandemic on Nigeria's financially underbanked population who have restricted or no access to formal financial services. This research paper examines the effects of COVID-19 economic disturbances on financial service accessibility and digital financial behaviours and analyses financial resilience among underbanked populations through data from CBN, NBS, and scholarly literature. Research results show that financial inclusion barriers have grown, and adoption of digital platform has become necessary and infrastructure difficulties persist. The study presents policy suggestions that target building financial resilience, expanding digital infrastructure, and promoting inclusive recovery approaches. The study underscores the importance of targeted interventions to address systemic challenges and promote long-term financial inclusion amid ongoing economic recovery efforts.