Record Details

Effects of Cashless Economy Policy on National Development: Evidence from Nigeria

Journal of Economics and Management Sciences

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Field Value
 
Title Effects of Cashless Economy Policy on National Development: Evidence from Nigeria
 
Creator IWEDI, Marshal
IGBANIBO, Dumini S.
UZO-AHUNANYA, Chidinma
 
Description Prior to this time, Nigeria economy was largely described as cash and paper based economy with significant proportion of the narrow money stock in form of currency outside the banking system. In a bid to drive national development, modernization of payment system and to limit the practice of the use of cash in business transaction in line with the global economy, the Central Bank of Nigeria introduced the cashless policy in January 2012 as a pilot scheme in Lagos. Since the declaration of cashless policy, there has been controversy in the academia with respect to the effects on national development some scholars believes it benefits outweigh it challenges and vice versa. Based on this therefore, this study seeks to assess the effects of cashless economy policy on national development in Nigeria. The study reveals cashless policy has promoted effective and improved monetary policy, efficient and fast payment system, job creations and increased technological infrastructures. The study suggests that government should promote efforts that will encourage cashless policy in Nigeria.
 
Publisher IDEAS SPREAD INC
 
Date 2018-08-29
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://j.ideasspread.org/index.php/jems/article/view/139
10.30560/jems.v1n2p56
 
Source Journal of Economics and Management Sciences; Vol 1 No 2 (2018); p56
2576-3016
2576-3008
 
Language eng
 
Relation https://j.ideasspread.org/index.php/jems/article/view/139/87
 
Coverage CBN (2017)
 
Rights Copyright (c) 2018 Marshal IWEDI, Dumini S. IGBANIBO, Chidinma UZO-AHUNANYA
http://creativecommons.org/licenses/by/4.0