NATIONAL PERCEPTION OF THE CBN CASHLESS ECONOMY POLICY\. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
ABSTRACT
E-payments systems have gained relevance in financial operations of the modern day. It is no surprise that the monetary authorities of the country, the Central Bank Nigeria consider it a necessity for the country’s economic operations.The national perception of the cashless economy policy in Nigeria is by no means a theme to be ignored. The effectiveness of any plan, programme or even policy is heavily dependent on the perception and acceptance by its end users. In this study, an indepth investigation of the perception of this policy was undertaken.To this end, a sample of hundred and twenty literate respondents were considered with the outcome of such exercises critically examined to achieve the purpose of this study. Using this methodology, findings clearly suggest nice perception and positive acceptance levels.Empirical results from our findings indicate that nationals are not in any way negative about the policy, benefit or feasibility. The study recommends the infusion of necessary structure, systems and strategy necessary for a successful execution.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
It is noteworthy to assert that change remains a constant reality of life. Just as tides and seasons come and go, so do situations come and go. These situations vary from economic, political, social, technological etc. They have all required far reaching solutions to address their peculiar inadequacies.
The fortunes and short comings of the barter system economy have come and gone to give room for other systems. With the breakdown of the barter system, there arose a new order of value quantification of goods and services as well as a basis for arranging and obtaining values through an exchange system. This phenomenon is what experts and authorities call the ‘money system’.
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