The impact of President Bola Tinubu’s cashless policy drive on rural banking in Jega, Kebbi State
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Background of the Study
In recent years, Nigeria has been moving toward a more cashless economy, driven by the Central Bank of Nigeria’s (CBN) policies and supported by President Bola Tinubu’s administration. The cashless policy aims to reduce the reliance on physical cash by promoting digital payments and banking. This shift is intended to improve financial inclusion, streamline transactions, and combat corruption. The introduction of the policy is particularly important for rural areas, where access to traditional banking services has often been limited.
Jega, a rural area in Kebbi State, has historically faced challenges in accessing banking services and financial products. The introduction of the cashless policy aims to address these challenges by promoting mobile banking, agent banking, and other financial innovations that can improve financial inclusion in the area. This study seeks to evaluate the impact of President Bola Tinubu’s cashless policy on rural banking in Jega, focusing on access to financial services, the adoption of digital banking, and the overall effect on the local economy.
Statement of the Problem
Rural areas like Jega face significant barriers to banking, including limited access to bank branches, insufficient financial literacy, and inadequate technological infrastructure. While the cashless policy aims to address these issues, there is limited empirical research on how effectively this policy has impacted rural banking in areas like Jega. This study seeks to examine the challenges and successes of implementing the cashless policy in rural Kebbi State.
Objectives of the Study
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To assess the impact of President Bola Tinubu’s cashless policy on rural banking in Jega, Kebbi State.
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To evaluate the adoption of digital banking services in Jega as a result of the cashless policy.
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To investigate the effect of the cashless policy on financial inclusion and economic activities in Jega.
Research Questions
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How has President Bola Tinubu’s cashless policy impacted rural banking in Jega, Kebbi State?
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To what extent has digital banking been adopted in Jega following the implementation of the cashless policy?
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What effects has the cashless policy had on financial inclusion and local economic activities in Jega?
Research Hypotheses
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The implementation of the cashless policy has significantly improved access to banking services in Jega, Kebbi State.
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The adoption of digital banking services in Jega has led to increased financial inclusion and economic growth.
Scope and Limitations of the Study
This study will focus on the impact of the cashless policy on rural banking in Jega, Kebbi State, covering both the adoption of digital banking services and broader economic effects. Limitations include the challenge of obtaining accurate data on financial transactions in rural areas and the varied responses from local banking institutions.
Definitions of Terms
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Cashless Policy: A policy that encourages the use of electronic payment methods rather than physical cash for transactions.
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Digital Banking: The provision of banking services through digital platforms such as mobile apps and internet banking.
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Financial Inclusion: The availability and accessibility of financial services to all individuals, particularly those in underserved or rural areas.
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