0704-883-0675     |      dataprojectng@gmail.com

ASCERTAINING THE IMPACTS OF 2019 CBN CASHLESS POLICY DIRECTIVE ON MARKET ORGANIZATIONS (A STUDY OF ONITSHA MAIN MARKET)

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 3000

Abstract

Before the emergence of modern banking system, banking operation was manually done which lead to a slowdown in settlement of transactions, which massively affected market operations. This manual system involves posting transactions from one ledger to another with human hands. The new policy by Central Bank of Nigeria (CBN) on cashless system of payment has raised a lot of concern to the growth of market operations in Anambra State, with the objective of reducing robbery, high cost of processing cash, revenue leakages, inefficient treasury management, promoting economic development through financial intermediation, among others.  The aim of this paper is to ascertain the extent to which proposed introduction of cashless banking system of payment will affect market operations in Anambra State. Qualitative research design and correlation was used to carry out this study. The study indicates that there is significant positive relationship between the introduction of cashless banking system of payment and market operations in Anambra State. The implication of these to the economy of Anambra State is that, it will lead to significant decrease in deposit mobilization and credit extension by Nigerian deposit money banks. Consequently, the study concluded that cashless system of payment will be examined and develop the e-payment system first, so that people will be used to it before talking of cashless economy. This is because; bulk of the Anambra State business activities is driven by Small and Medium Enterprises (SME) and petty traders. To retain this proposed policy of cashless economy in Nigeria, we recommend that the migration of our payments system towards a cashless society would require some reforms and a lot of effort and sensitization especially for low income group, who are currently deeply rooted in using cash and see it as a convenient and easy way of receiving and making payments.




FIND OTHER RELATED TOPICS


Related Project Materials

EXAMINATION OF ORGANIZATIONAL COMMITMENT AT WORK PLACE AND ITS EFFECTS ON ORGANIZATION GROWTH

EXCERPT FROM THE STUDY

Employee commitment is a significant topic of research since it is thought to be closely linked t...

Read more
AN ASSESSMENT OF CONSUMER RIGHTS IN NIGERIA: A CASE STUDY OF THE SACHET WATER INDUSTRY

ABSTRACT

The indispensability of safe drinking water to man cannot be over-emphasized. This research has traversed the allowable length a...

Read more
LOCAL GOVERNMENT SYSTEM IN NIGERIA AS AN INSTRUMENT FOR RURAL DEVELOPMENT

Abstract

Local government in modern day life is responsible for delivering basic goods and services to its local communities in faster, e...

Read more
THE ROLE OF EFFICIENT MATERIALS HANDLING IN A MANUFACTURING FIRM

Abstract

The effective movement of materials is being seen as business in its own right materials heading is a feature o...

Read more
A CRITICAL SURVEY OF ENGLISH COMMON SPELLING ERRORS

BACKGROUND OF THE STUDY

Though many people would agree that the standard of education in Nigeria has de...

Read more
FABRICATION OF DYE-SENSITIZED SOLAR CELL USING NATURAL DYES FROM Lawsonia inermis (HENNA), Mangifera indica (MANGO), AND Terminalia catappa (TROPICAL ALMOND) LEAVES WITH POLYANILINE/GRAPHITE AS A COUNTER ELECTRODE

ABSTRACT

This study used natural extracts from Lawsonia inermis L. (Henna), Terminalia catappa L. (Tropical Almond), and Mangifera indica...

Read more
THE IMPACT OF ENVIRONMENTAL VARIABLES ON SMALL SCALE BUSINESS ENTERPRISE

ABSTRACT

This research investigates the impact of environmental variables  on small scale business enterprise....

Read more
KNOWLEDGE OF THE EFFECT OF REGULAR PELVIC FLOOR EXERCISES ON MATERNAL HEALTH AMONG WOMEN OF REPRODUCTIVE AGE

ABSTRACT

This study was carried out to examine the knowledge of...

Read more
THE ROLE OF EARLY CHILDHOOD EDUCATION IN REDUCING PREJUDICE

ABSTRACT: The role of early childhood education in reducing prejudice was explored to understand how early educational interventions can foster inc...

Read more
THE NEED FOR PROPER STORE KEEPING IN A MANUFACTURING COMPANY  

          ABSTRACT

The storekeeper in charge of the store should be someone...

Read more
Share this page with your friends




whatsapp