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Ikpefan, Ochei Ailemen and Enobong, Akpan and Osuma, Godswill and Evbuomwan, Grace O. and Ndigwe, Chisom (2018) ELECTRONIC BANKING AND CASHLESS POLICY IN NIGERIA. International Journal of Civil Engineering and Technology (IJCIET), 9 (10). pp. 718-731. ISSN 0976-6316

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The cashless policy has been introduced in Nigeria, however, there are still excess of cash in the economy despite the cutting edge measures put in place by the Nigerian inter-bank settlement system (NIBSS) aimed at removing and/or reducing to the barest minimum all glitches associated with cashless and e-transactions payment channels. As a result of this, the objective of the study is to determine the impact electronic banking tools have on cashless policy in Nigeria for a ten year period which spans from 2006 to 2015. In this research work, the ordinary least square method was used to analyze the data. The data used for this research work was collected from the Central Bank of Nigeria (CBN) annual report and the Nigerian Interbank Settlement System (NIBSS) website. The major findings of this research work showed that there is no significant impact of electronic banking tools on the currency in circulation. The study recommends that transaction charges should be further reviewed to a little (single digit) or no charge, to encourage more patronage of e-payment platforms and CBN, Deposit money banks (DMBs), and other non-banks financial institutions should provide public enlightenment and awareness programs that will create awareness and entice the unbanked individuals into the banking system especially those in the informal sector in Nigeria.

Item Type: Article
Uncontrolled Keywords: Electronic banking, Deposit money banks, cashless policy, and Technology acceptance model.
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Hannah Akinwumi
Date Deposited: 30 Oct 2018 12:34
Last Modified: 30 Oct 2018 12:34

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