<p>Financial inclusion remains a critical challenge in Nigeria, particularly in rural areas where access to financial services and financial literacy levels are significantly low. While FinTech innovations have the potential to bridge this gap, existing research has not fully examined the comparative effects of financial technology adoption and financial literacy on financial inclusion. Specifically, prior studies fail to assess how both factors interact and whether financial inclusion is primarily driven by improved access to FinTech services, enhanced financial literacy, or a combination of both. This study investigates the adoption, accessibility, and affordability of FinTech products in Nigeria while assessing individuals’ ability to effectively utilize these technologies. Using survey data from rural populations, our study examines how FinTech innovations influence the uptake of financial services that contribute to wealth circulation and economic growth. We reveal that while FinTech adoption has increased among rural dwellers, financial literacy has a more significant impact on financial inclusion than access to FinTech services. This is largely due to the continued dominance of traditional banks as primary FinTech service providers, whose presence is predominantly concentrated in urban areas. Consequently, rural financial inclusion remains constrained despite the growing availability of digital financial solutions. We address the need for targeted strategies to enhance financial literacy and improve access to FinTech services in rural areas. Policymakers and FinTech companies should prioritise financial education initiatives and develop more inclusive digital financial solutions to accelerate financial inclusion in rural areas.</p>