The Impact of Financial Education on Poverty Alleviation of the Poor and Low Income Earners in Ikere Local Government of Ekiti State, Nigeria

Abstract

The main objective of this study was to find the impact of financial education on poverty alleviation of the poor and low income earners among the customers of Amoye Microfinance Bank, Ikere local government of Ekiti State. The study adopted a descriptive survey research design and the target population was 5000. A sample of 10% totaling 500 customers were randomly selected for the study. A semi-structured, structured questionnaire and interviews were used to collect data for the study. Hypotheses were formulated and tested at 0.05 level of significance. The finding suggested that there was a relationship between financial education and poverty eradication. Based on the finding, it was recommended that the Amoye Microfinance Bank should invest in the financial education of their customers in order to achieve the long term objective of poverty eradication.

Keywords: Microfinance Loan, Financial Education and Poverty Alleviation.