International Journal of Social Science & Economic Research
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Title:
EVALUATING THE SUCCESS OF CASHLESS POLICY IN NIGERIA: EVIDENCE FROM THE CURRENT ADDITIONAL POLICY ON WITHDRAWALS

Authors:
UMAR, Abbas Ibrahim, PhD ; OGBONNAYA, Simeon Chizoba

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UMAR, Abbas Ibrahim, PhD1 ; OGBONNAYA, Simeon Chizoba2
1,2. Department of Business Administration, Nile University Of Nigeria, Abuja.

MLA 8
Ibrahim, UMAR, Abbas, and OGBONNAYA, Simeon Chizoba. "EVALUATING THE SUCCESS OF CASHLESS POLICY IN NIGERIA: EVIDENCE FROM THE CURRENT ADDITIONAL POLICY ON WITHDRAWALS." Int. j. of Social Science and Economic Research, vol. 5, no. 2, Feb. 2020, pp. 305-319, ijsser.org/more2020.php?id=21. Accessed Feb. 2020.
APA(6)
Ibrahim, U., & Chizoba, O. (2020, February). EVALUATING THE SUCCESS OF CASHLESS POLICY IN NIGERIA: EVIDENCE FROM THE CURRENT ADDITIONAL POLICY ON WITHDRAWALS. Int. j. of Social Science and Economic Research, 5(2), 305-319. Retrieved from ijsser.org/more2020.php?id=21
Chicago
Ibrahim, UMAR, Abbas, and OGBONNAYA, Simeon Chizoba. "EVALUATING THE SUCCESS OF CASHLESS POLICY IN NIGERIA: EVIDENCE FROM THE CURRENT ADDITIONAL POLICY ON WITHDRAWALS." Int. j. of Social Science and Economic Research 5, no. 2 (February 2020), 305-319. Accessed February, 2020. ijsser.org/more2020.php?id=21.

References
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Abstract:
This study examined the success of cashless policy in Nigeria, evidence from the current additional policy on withdrawals. The variables considered includes how cashless police has helped to drive financial inclusion, improve the effectiveness of monetary policy in managing inflation and increase the usage of alternative channels or platforms of payment. The study was conducted using secondary data on key payment system platforms; in analyzing the data, the study employed, two simple regression models using the Ordinary Least Squares Estimation Technique (OLS). The finding from this study shows that Cashless policy has been very successful in Nigeria in the following areas among others; it has helped to drive financial inclusion, helped to improve the effectiveness of monetary policy in managing inflation, and increase in the usage of alternative payment platforms. The study recommends that businesses in Nigeria should adopt alternative means of payment as this will help to drive financial inclusion and ultimately assist the monetary policy authorities in effective management of inflation. It further recommends that the apex Bank should continue to carry out aggressive sensitization on Nigeria public to ensure more acceptability of cashless policy.