This study uses a novel, large-scale of individuals and households obtained from the Access to Financial Services in Nigeria survey (A2F) to investigate the causal effects of the BIS program on the performance of informal household enterprises. For the purpose of this study, I collected data for two periods, 2018 and 2020; meaning the period when the BIS formalization program was implemented.  The survey was conducted by the Enhancing Financial Innovation & Access (EFInA) Team in partnership with the Central Bank of Nigeria and the National Bureau of Statistics.