Evaluation of Prospect and Challenges of Cashless Policy. The Case of Commercial Banks in Nigeria
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Date
2018-10-27
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Financial markets, institutions and risks academic journal published by ARMG
Abstract
Structured questionnaire was used to source the primary data. The population of the study was made up of the
commercial banks in operation in Nigeria. The population was the 210 management staffs of the eight (8)
commercial banks in operation in Lagos Metropolis, Lagos. The study adopted a survey method. The entire
population of Questionnaire was administered to the population of the study but 184 questionnaires were dully
returned. Data was analyzed using interferential and descriptive statistics. The inferential statistics involve
regression, Analysis of Variance (ANOVA) and multiple regression analysis. A pilot study was also used to
test the quality, clarity, time scale and bias of the questionnaire. The paper concluded that cash-less policy
will impact positively on the fortunes of banks even though some of the charges are not wholly their revenue.
It was also discovered that some charges like COT, over-the- counter charges etc. which are associated with
a cash-based economy will be a thing of the past. The study recommend that power and electricity
infrastructures should be put in place to provide support for electronic banking equipment and care must be
taken to ensure that e-money does not compete with demand deposit.
Description
Zekeri Abu, Kadiri Ismaila Bolarinwa. (2018). Evaluation of Prospect and Challenges of Cashless Policy. The Case of Commercial Banks in Nigeria. Financial Markets, Institutions and Risks, 2(4), 92-100. DOI: http://doi.org/10.21272/fmir.2(4).92-100.2018
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