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.
Related Project Materials
PERFORMANCE APPRAISAL AND EMPLOYEES PRODUCTIVITY IN PUBLIC SECTOR
ABSTRACT
This study was carried out to examine performance appraisal and employees productivity in publ...
THE EFFECT OF DEMOGRAPHIC SHIFTS ON FUND ACCOUNTING PRACTICES
Abstract: THE EFFECT OF DEMOGRAPHIC SHIFTS ON FUND ACCOUNTING PRACTICES
This study aims to: (1) investigate the influence of demographic...
THE GROWTH, ROLE AND PERFORMANCE OF INSURANCE INDUSTRY IN DEVELOPING COUNTRY
Abstract
The main purpose of this research work is to examine the historical background of the Nigerian insurance industry with emphasis on...
THE EFFECT OF AUDIT QUALITY ON FINANCIAL REPORTING CREDIBILITY
Abstract:
This study investigates the effect of audit quality on financial reporting credibility in Lag...
IMPACT OF CLASS SIZE ON SOCIAL STUDIES STUDENTS' ACADEMIC PERFORMANCE
ABSTRACT
The general focus of this study was to examine the impact of class s...
ASSESSMENT OF GOVERNMENT RESPONSE TO FLOOD DISASTER IN KEDE FLOODPLAIN IN MOKWA LOCAL GOVERNMENT AREA, NIGER STATE
ABSTRACT
Kede floodplain is under constant threat of devastating floods annually. The rural dwellers adopted strategies and even the gove...
THE IMPACT OF MOTIVATION ON STAFF PERFORMANCE IN THE PUBLIC SECTOR
ABSTRACT
This project tends to examine the impact of motivation on staff performance in the public sector as it affects...
WATER SUPPLY AND CONSUMPTION
ABSTRACT
This study examines the domestic water supply and consumption in Ibadan north east local government area of Oyo state, Nigeria....
AN ASSESSMENT OF THE IMPACT OF ADVERTISING ON RURAL DWELLERS' BUYING HABIT
Background to the Study
Historically, there has been a vacuum in information sharing between vend...
COMPARATIVE ANALYSIS OF FINANCIAL MANAGEMENT PRACTICES IN DEVELOPED AND EMERGING MARKETS
Abstract: COMPARATIVE ANALYSIS OF FINANCIAL MANAGEMENT PRACTICES IN DEVELOPED AND EMERGING MARKETS
This research conducts a comparative a...
