Potential for indigenous communication systems to improve financial literacy: evidence from Nigeria
Imhanrenialena Benedict Ogbemudia, Obi-Anike Happiness Ozioma, Okafor Chikodili Nkiru, Ike Ruby NnekaThe low level of education and lack of electricity hinder dissemination of financial literacy information in rural communities. To address this problem, this study investigated the roles of the indigenous communication system in closing the gaps in dissemination of financial literacy information among Nigerian rural farmers. It was found that the use of indigenous language in formal financial service literacy campaigns has a significant association with dissemination of formal financial service literacy information to rural farmers. Second, contrary to our earlier expectations, no significant association was found between community leaders and the dissemination of formal financial service literacy information to rural farmers. Third, town-criers’ participation in formal financial service literacy campaigns has a positive significant impact on the dissemination of formal financial service literacy information to rural farmers. The researchers conclude that financial authorities should encourage indigenous language and town-criers in the dissemination of financial literacy information to rural famers.
Abada, I., Ezeibe, C. and Nnwanze, J. (2016) ‘Implementation of Fadama III Project and the development of rural agriculture in Abakaliki Local Government Area of Ebonyi State, Nigeria, 1999–2014’, Transylvanian Review XXIV(7), Special Issue.
Afrobarometer (2016) ‘A pan-African series of national public attitude surveys on democracy, governance, and society’, Afrobarometer Survey 1999–2016 [online] <https://www.afrobarometer.org/> [accessed 27 November 2020].
Aker, J.C. and Mbiti, I.M. (2010) ‘Mobile phones and economic development in Africa’, Journal of Economic Perspectives 24(3): 207–32 <http://doi.org/10.1257/jep.24.3.207>.
Akinyeye, D.A. (1986) ‘Traditional communication’, Nigerian Magazine Vol. 54, Emacoprint Ltd, Lagos.
Akpabio, E. (2003) African Communication Systems: An Introductory Text, B Print Publications, Lagos.
Alliance for a Green Revolution in Africa (AGRA) (2017) Africa Agriculture Status Report: The Business of Smallholder Agriculture in Sub-Saharan Africa, Alliance for a Green Revolution in Africa (AGRA) Issue No. 5, Nairobi.
Ansu-Kyeremeh, K. (1998) Indigenous communication systems: a conceptual framework in Ansu-Kyeremeh K. (ed.), Perspectives on Indigenous Communication in Africa: Theory and Application, Vol. 2, School of Communication Studies Printing Press, Legon.
Aziken, L.C. and Emeni, F.C.A. (2010) ‘Traditional systems of communication in Nigeria: a review for improvement’, Knowledge Review 21(4): 22–9.
Central Bank of Nigeria (2017) Financial Inclusion Newsletter, pp. 2–6 [online], Abuja: CBN <https://www.cbn.gov.ng/Out/2017/CCD/Financial%20Inclusion%20Newsletter_FEB%202017_Volume%202%20Issue%201_Final.pdf> [accessed 7 December 2020].
Central Bank of Nigeria (2018) Exposure Draft of the National Financial Inclusion Strategy Refresh, REF:DFD/FIS/GEN/ODB/08/035 <https://www.cbn.gov.ng/Out/2018/CCD/Exposure%20Draft%20of%20the%20National%20Financial%20Inclusion%20Strategy%20Refresh_July%206%202018.pdf> [accessed 7 December 2020].
Czepiel, J.A. (1974) ‘Word-of-mouth processes in the diffusion of a major technological innovation’, Journal of Marketing Research 11: 172–80 <https://doi.org/10.2307/3150555>.
De Mooij, M. (2005) Global Marketing and Advertising: Understanding Cultural Paradoxes, Sage, Thousand Oaks, CA.
Des, W. (1987) ‘Traditional systems of communication in modern African development: an analytical view point’, Africa Media Review 1(2): 1–19.
Domzal, T.J., Hunt, J.M. and Kernan, J.B. (1995) ‘Achtung! The information processing of foreign words in advertising’, International Journal of Advertising 14(2): 94–114.
Doob, L.W. (1966) Communication in Africa: A Search for Boundaries, Yale University Press, New Haven, CT.
Egwemi, V. and Odo, L.U. (2013) ‘Rural development and poverty eradication in Nigeria’, Journal of Research in National Development 11(1): 101–10.
Enhancing Financial Innovation and Access (EFInA) (2016) Access to Financial Services in Nigeria Survey <https://www.efina.org.ng/wp-content/uploads/2019/02/Did-You-Know-Series-Eight.pdf> [accessed 7 April 2019].
Ezeoha, A.E., Obi, A., Igwe, A. and Ezeruigbo, C. (2019) ‘The mobile phone revolution, the internet and rural electricity: what are the implications for food security in Africa?’ Information Development 1–20 <https://doi.org/10.1177/0266666919884991>.
Feick, L.F. and Price, L.L. (1987) ‘The market maven: a diffuser of marketplace information’, Journal of Marketing 51: 83–98.
Flynn, L.R., Goldsmith, R.E. and Eastman, J.K. (1996) ‘Opinion leaders and opinion seekers: two new measurement scales’, Journal of the Academy of Marketing Science 24: 137–47.
Gerritsen, M., Korzilius, H., van Meurs, F. and Gijsbert, I. (2000) ‘English in Dutch commercials: not understood and not appreciated’, Journal of Advertising Research 40(4): 17–31 <https://doi.org/10.2501/JAR-40-4-17-31>.
Gregory, A. (2010) Planning and Managing Public Relations Campaigns, Kogan Page, London.
Hair, J.F., Ringle, C.M. and Sarstedt, M. (2013) ‘Partial least squares structural equation modeling: rigorous applications, better results and higher acceptance’, Long Range Planning 46(1–2), 1–12 <https://doi.org/10.1016/j.lrp.2013.01.001>.
Hofstede, G. (1980) Culture’s Consequences: International Differences in Work-Related Values, Sage, Beverly Hills, CA.
Hofstede, G. (2001) Culture’s Consequences: Comparing Values, Behaviors, Institutions, and Organizations across Nations, 2nd edn, Sage, Thousand Oaks, CA.
Hornikx, J., Meurs, F.V. and Boer, A.D. (2010) ‘English or local language in advertising? The appreciation of easy and difficult English slogans in the Netherlands’, Journal of Business Communication 47(2): 169–88 <https://doi.org/10.1177/0021943610364524>.
House, R.J., Hanges, P.J., Javidan, M., Dorfman, P.W. and Gupta, V. (2004) Culture, Leadership, and Organizations: The GLOBE Study of 62 Societies, Sage, Thousand Oaks, CA.
InterMedia (2013) The Financial Inclusion Insight Program, Intermedia, Washington, DC.
Islam, K.A., Bashar, M.A., Akhter, N., Mia, M.A.T., Afroj, M., Rahman, M.M. and Baque, M.A. (2016) ‘Diffusion of agricultural innovation through opinion leadership’, International Journal of Business, Management and Social Research 2(2): 125–31 <https://doi.org/10.18801/ijbmsr.020216.14>.
Johnson, S. and Arnold, S. (2012) ‘Inclusive financial markets: is transformation under way in Kenya?’ Development Policy Review 30: 719–48 <https://doi.org/10.1111/j.1467-7679.2012.00596.x>.
Klapper, L. and Singer, D. (2014) The Opportunities of Digitizing Payments, Working Paper, World Bank, Washington, DC.
Leo, V.H. and Antoine, D. (2019) ‘M-PESA and financial inclusion in Kenya: of paying comes saving?’, Sustainability 11: 568–93 <https://doi.org/10.3390/su11030568>.
Lim, S., Goh, J. and Sriramesh, K. (2005) ‘Applicability of the generic principles of excellent public relations in a different cultural context: the case study of Singapore’, Journal of Public Relations Research 17: 315–40 <https://doi.org/10.1207/s1532754xjprr1704_1>.
Media and Marketing Communications Company Group, National Commission for Mass Literacy, Adult and Non Formal Education, and National Bureau of Statistics (2010) The National Literacy Survey Report in Nigeria [online] <https://www.nigerianstat.gov.ng/pdfuploads/National%20Literacy%20Survey,%202010.pdf> [accessed 12 May 2021].
Myers, J.H. and Robertson, T.S. (1972) ‘Dimensions of opinion leadership’, Journal of Marketing Research 9: 41–6.
National Bureau of Statistics (2019) ‘Nigeria Living Standards Survey 2020’ [online] <https://www.nigerianstat.gov.ng/nada/index.php/catalog/64/dataprocessing> [accessed 19 August 2020].
Ndung’u, N.S. (2018) ‘Harnessing Africa’s digital potential: new tools for a new age’, in Foresight Africa 2018 Report, pp. 84–99, Brookings Institutes, Washington, DC.
Nwachukwu, F.G. (2008) ‘Advertising effectiveness: the indigenous language option’, International Journal of Communication 8: 77–88.
Nwankwo, F.O. and Okeke, C.S. (2017) ‘Rural entrepreneurship and rural development in Nigeria’, Africa’s Public Service Delivery and Performance Review 5(1): 1–7 <https://doi.org/10.4102/apsdpr.v5i1.152>.
Nwibo, S.U., Umeh, G.N., Eze, A.V., Ezeh, A.N., Nwofoke, C. and Mbam, B.N. (2018) ‘Contributions of homestead agriculture to food security among urban household in Abakaliki Ebonyi State, Nigeria’, Nigerian Agricultural Journal 49(2): 1–9.
Nyilasy, G. (2006) ‘Word of mouth: what we really know – and what we don’t’, in J. Kirby and P. Marsden (eds.), Connected Marketing: The Viral, Buzz and Word of Mouth Revolution, pp. 159–61, Elsevier, New York, NY.
Ogbodoh, T. (1990) ‘Advertising development in Nigeria’, in Okigbo, C. (ed.), Advertising and Public Relations, 1st edn, pp. 10–20, Department of Mass Communication, UNN, Enugu.
Ouma, S.A., Odongo, T.M. and Were, M. (2017) ‘Mobile financial services and financial inclusion: is it a boon for savings mobilization?’ Review of Development Finance 7: 29–35 <http://dx.doi.org/10.1016/j.rdf.2017.01.001>.
Petry, J.F., Sebastião, S.A., Martins, E.G. and de Azevedo Barros, P.B. (2019) ‘Innovation and the diffusion of technology in agriculture in floodplains in the State of Amazonas’, Journal of Contemporary Administration 23(5): 619–35 <https://dx.doi.org/10.1590/1982-7849rac2019190024>.
Piller, I. (2001) ‘Identity constructions in multilingual advertising’, Language in Society 30(2): 153–86 <https://doi.org/10.1017/s0047404501002019>.
Porteous, D. (2007) Just How Transformational is M-banking? Finmark Trust, Johannesburg.
Pratiwi, A. and Suzuki, A. (2017) ‘Effects of farmers’ social networks on knowledge acquisition: lessons from agricultural training in rural Indonesia’, Journal of Economic Structures 6(1): 8 <https://doi.org/10.1186/s40008-017-0069-8>.
Puntoni, S., De Langhe, B. and Van Osselaer, S.M.J. (2008) ‘Bilingualism and the emotional intensity of advertising language’, Journal of Consumer Research 35: 1012–25 <https://doi.org/10.1086/595022>.
Rogers, E.M. (1983) Diffusion of Innovations, 3rd edn, Free Press, New York.
Rogers, E.M. (2003) Diffusion of Innovations, 5th edn, Simon and Schuster, New York.
Rogers, E.M. and Burdge, R.J. (1962) Community Norms, Opinion, Leadership, and Innovativeness among Truck Growers, Research Bulletin 912, Ohio Agricultural Experiment Station, Wooster, OH.
Rogers, E.M. and Shoemaker, F.F. (1971) Communication of Innovations: A Cross Cultural Approach, The Free Press, New York; Collier-Macmillan, London.
Rural Electrification Agency (2018) ‘Nigeria: the next big frontier for rural electrification access’ [online], <http://rea.gov.ng/nigeria-next-big-frontier-rural-electricity-access> [accessed 27 November 2020].
Sheth, J.N. (1971) ‘Word-of-mouth in low risk innovations’, Journal of Advertising Research 11(3): 15–18.
Smudde, P.M. (2011) Public Relations as Dramatistic Organizing: A Case Study Bridging Theory and Practice, Hampton, Cresskill, NJ.
Sperber, D. and Wilson, D. (1986) Relevance: Communication and Cognition, 1st edn, Blackwell, Oxford.
Sperber, D. and Wilson, D. (1995) Relevance: Communication and Cognition, 2nd edn, Blackwell, Oxford.
Ugboajah, F.O. (1972) ‘Traditional-urban media model: stock-taking for African development’, International Journal for Mass Communication 18: 2.
Unoh, S. (1987) Topical Issues in Communication Arts, 1st edn, Modern Press, Uyo.
Valente, T. and Davis, R. (1999) ‘Accelerating the diffusion of innovations using opinion leaders’, Annals of the American Academy of Political and Social Science 566: 55–67 <https://doi.org/10.1177/000271629956600105>.
Venkatraman, M.P. (1989) ‘Opinion leaders, adopters, and communicative adopters: a role analysis’, Psychology and Marketing 6: 51–69.
Wang, G. and Dissanyoke, W. (1997) Indigenous Communication System. A Conceptual Framework Theory and Application, Vol. 2, Communication Legion Studio Press, Accra.
Watts, D.J. and Dodds, P.S. (2007) ‘Influentials, networks, and public opinion formation’, Journal of Consumer Research 34: 441–58 <https://doi.org/10.1086/518527>.
Wilcox, D. (1975) Mass Media in Black Africa, 1st edn, Praeger Publishers, New York.
Wilson, D. (1987) ‘Traditional systems of communication in modern African development: an analytical view point’, Africa Media Review 1(2): 87–104.
Wilson, D. and Sperber, D. (2004) ‘Relevance theory’, in L.R. Horn and G.L. Ward (eds.), The Handbook of Pragmatics, Blackwell, Malden, MA.
World Bank (2017) ‘World Development Indicators: Nigeria access to electricity percent of population’ [online] <https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?locations=NG> [accessed 7 December 2020].
Wyche, S. and Olson, J. (2018) ‘Kenyan women’s rural realities, mobile internet access, and “Africa Rising”’, Information Technologies International Development 14: 33–47.
Price: £19.99Buy article
- Development impact bonds: learning from the Asháninka cocoa and coffee case in Peru
- Trade-off between outreach and sustainability of microfinance institutions: evidence from sub-Saharan Africa
- Value chain development for rural poverty reduction: A reality check and a warning
- Impact assessment of commodity standards: towards inclusive value chains
- What is cocoa sustainability? Mapping stakeholders’ socio-economic, environmental, and commercial constellations of priorities