AN APPRAISAL OF CASHLESS POLICY IN NIGERIA

NWAFOR, Michael C (2019) AN APPRAISAL OF CASHLESS POLICY IN NIGERIA. International Journal of Contemporary Issues in Humanities & Social Sciences, 1 (1). pp. 41-56. ISSN ISSN : 2714-4488

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Abstract

The purpose of this study is an appraisal of cashless policy in Nigeria. Specifically, the study aimed to pursue the following objectives: to ascertain the extent of electronic card transactions uses in Nigeria; to determine if there has been a decrease in cash transaction with the implementation of cashless policy in Nigeria. The population of the study comprises all electronic and cash transactions that have taken place from the period of 2005 to 2014. The research focuses on the general evaluation of cashless policy in Nigeria. Non-random sampling technique was used. This is more focus and deliberate. It relies on the judgment of the researcher as the researcher is interested in the findings of the study which can make generalization of the population. Secondary sources of data were used in this study. The choice of secondary sources is based on the authenticity and reliability. The data were obtained from the statistical bulletin of the central bank of Nigeria, 2014. Time series data of the country’s electronic transactions were extracted from Statistical bulletins of the CBN and excel tables and chart were used to present the results. The results from this study shows that since there is a positive moderate correlation between ATM ratio and currency outside the banks, the extent of electronic card transactions uses in Nigeria has increased; since there is a positive moderate correlation between ATM ratio and currency outside the banks of cashless policy in Nigeria, there have been increases in cash transaction with the implementation of cashless policy in Nigeria. However, this study concluded that since there is a positive moderate correlation between ATM ratio and currency outside the banks, the extent of electronic card transactions uses in Nigeria has increased and there have been increases in cash transaction with the implementation of cashless policy in Nigeria. This study recommended that Government and the CBN should create awareness on the benefits derivable from cashless policy for the improvement of businesses and

Item Type:	Article
Subjects:	H Social Sciences > HG Finance
Divisions:	Faculty of Management and Social Sciences
Depositing User:	Uchenna Eneogwe
Date Deposited:	14 May 2025 13:27
Last Modified:	14 May 2025 13:27
URI:	http://eprints.gouni.edu.ng/id/eprint/4526

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