Open AccessEvaluating Nigeria Cashless Policy Implementation
Author(s) -
Kket Eko Ewa,
Egu Usang Ina
Publication year - 2016
Publication title -
international journal of business and social research
Language(s) - English
Resource type - Journals
eISSN - 2164-2559
pISSN - 2164-2540
DOI - 10.18533/ijbsr.v6i5.941
Subject(s) - likert scale , unbanked , financial inclusion , business , legislature , scale (ratio) , the internet , finance , economic growth , financial services , economics , political science , statistics , physics , mathematics , quantum mechanics , world wide web , law , computer science
The Central Bank of Nigeria introduced cashless policy initiative to accomplish two main macro-socio-economic policy objectives of increased convenience and greater financial inclusion in Nigeria. This study evaluates Nigeria cashless policy implementation using a four point Likert scale questionnaire administered to six hundred respondents. The results of the study show that the twin policy objectives investigated were partially achieved. Also the study reveals that social infrastructures in power and telecommunications need improvement and expansion and the need to create more awareness to encourage the unbanked to embrace banking culture. This study recommends vigorous investments on cyber security, strengthening of internet protocol and controls in the banks and enactment of relevant legislative laws to curb cybercrimes.