Financial services are an increasingly influential sector of the modern economy, it refers to a broad range of more specific activities such as banking, investing, insurance, accounting, and tax. It is the presence of financial services that enables a country to improve its economic condition whereby there is more production in all the sectors leading to economic growth. The benefit of economic growth is reflected on the people in the form of economic prosperity wherein the individual enjoys higher standard of living. It is here the financial services enable an individual to acquire or obtain various consumer products through hire purchase. In the process, there are a number of financial institutions which also earn profits. The presence of these financial institutions promote investment, production, saving etc.