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
EFFECT OF DIVIDEND PAYMENT ON CORPORATE PERFORMANCE NIGERIAN BANKS
ABSTRACT
In this research work titled “Relationship between dividend payment and corporate perfor...
ADDRESSING EQUITY ISSUES IN ACCESS TO VOCATIONAL PROGRAMS
Abstract: This research addresses equity issues in access to vocational programs in Nigeria...
SOCIO-ECONOMIC AND CULTURAL FACTORS MILITATING AGAINST COMMUNITY DEVELOPMENT
ABSTRACT
Over the years, Ideato North Local Government Area of Imo state has been experiencing aslowrateofdevelopmentinthearea.Basedont...
DATA MINING TECHNIQUES IN ANALYSIS OF STUDENT COURSE OF STUDY
Abstract
Data mining has a great deal of attention in the information industry in recent year due to th...
AN INVESTIGATION OF STUDENTS AWARENESS IN THE 18+ WARNING SIGN ON ALCOHOL ADVERTISEMENTS IN NIGERIA TERTIARY INSTITUTION
Background to the Study
It is possible that alcohol is the substance that is used the most often by teenagers. It is a p...
AN ASSESSMENT ON THE IMPACT OF PERIODIC ASSESSMENT TEST ON THE ACADEMIC PERFORMANCE OF SENIOR SECONDARY SCHOOL STUDENTS
ABSTRACT
The study was undertaken to investigate the effects of Periodic Testing on academic performance of se...
THE ROLE OF FIDUCIARY ACCOUNTANTS IN TAX PLANNING STRATEGIES
THE ROLE OF FIDUCIARY ACCOUNTANTS IN TAX PLANNING STRATEGIES
Abstract: Fiduciary accountants play a crucial role in tax planning strategi...
EXPERIMENTAL INVESTIGATION OF THE FLEXURAL AND SHEAR CAPACITIES OF REINFORCED CONCRETE BEAMS ENHANCED WITH CARBON FIBRE REINFORCED POLYMER (CFRP) LAMINATES
ABSTRACT
In this research, experimental research was carried out to assess the flexural and shear capacities of RC beams strengthened wit...
EFFECT OF CORPORATE SUSTAINABILITY FACTORS ON ORGANIZATIONAL PERFORMANCE
ABSTRACT
This study is intended to assess the effect of corporate sustainability factors on organizational performance....
THE EFFECTS OF GOOD PUBLIC RELATIONS MANAGEMENT ON PRODUCTIVITY OF DELTA TEXTILE MILL
ABSTRACT
The main focus of this study is to examine the effect of good public relation management on productivity in Del...
