Impact of Central Bank of Nigeria Cashless Policies on the Economic Growth In Nigeria (2010-2018

  • Type: Project
  • Department: Banking and Finance
  • Project ID: BFN1623
  • Access Fee: ₦5,000 ($14)
  • Pages: 103 Pages
  • Format: Microsoft Word
  • Views: 947
  • Report This work

For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

A cashless economy is an environment in which money is spent without being physically carrying cash from one place to another. The need to run a more efficient and productive economy by reducing the amount of cash in circulation brought about the cash-less policy. The aim of this study is to investigate the impact of Central Bank of Nigeria’s cashless policy on economic growth and development of Nigeria. The research was carried out by investigating to find out whether or not cash-less policy influences the growth of the banking sector and to determine the difference between economic development in Nigeria before and after cash-less policy. The research design used in this study is the quasi-experimental to investigate the economic relationship between the period before and after CBN cash-less policy. Secondary data was obtained from CBN Statistical Bulletin and seminar papers. This study analyses the impact of cashless policy on the economic growth of Nigeria using the regression analysis to test the long run relationship between the variables and adopts granger causality to test the direction of influence. The study found that that there is significant difference in the growth of the economy before and after introduction of CBN cashless policy even though GDP has a higher mean value in pre cash-less policy suggesting that the economy perform better in the 8 years before cash-less policy. The development of innovative cashless banking has the potential to transform economic activity and achieve developmental goals when effective regulatory measures are continuously implemented at the domestic level. In other words, legal, regulatory and economic policy frameworks should evolve to cope with these new cash-less banking products.

TABLE OF CONTENTS

TITLE PAGE………………………………………………………………………………1 

DECLARATION                                                                                                                    ............................................... 

CERTIFICATION                                                                                                                   ............................. 

ACKNOWLEDGEMENT                                                                                                        ...........................................................  

ABSTRACT                                                                                                                              ...................................................

TABLE OF CONTENTS                                                                                                       ...............................................

CHAPTER ONE                                                                                                                       .........................

INTRODUCTION                                                                                                                    .......

1.1      Background to the Study                                                                                                    .........................1  

1.2       Statement of the Problem                                                                                                  ........................

1.3       Statement of the Research Questions                                                                                ..................

1.4       Objectives of the Study                                                                                                     ...........................

1.5       Statement of the Research Hypotheses                                                                             ......................

1.6       Scope of the Study                                                                                                            .................................. 

1.7       Significance of the Study                                                                                                  ............................................

1.8      Limitations of the study                                                                                                    

1.9   Definition of Terms                                                                                                               

CHAPTER TWO                                                                                                                      

LITERATURE REVIEW                                                                                                         ......................................................................................................   9  

2.1       Introduction                                                                                                                        

2.2      Concept of Cashless Policy                                                                                                 

2.3       Concept of the Cash Era                                                                                                  4   

2.4       Concept of Economic Growth and Development                                                           ........................................................   15   

2.5      Concept of E-Commerce                                                                                                     

2.5.1    The historical development of e-commerce                                                                    .................................................................   19   

2.6       Benefits of Cashless Policy                                                                                             ..........................................................................................   20   

2.6.1    Problems of Cashless Economy                                                                                      ...................................................................................   23   

2.7       Transmission Channels for Cashless Policy                                                                   ................................................................   25   

2.7.1    Cashless Policy Implementation and Economic Development                                       ....................................   28   

2.7.2    Cashless Policy Implementation and Economic Growth in Nigeria                               ............................   32   

2.7.2.1    History of Bank Notes                   --------------------------------------------------------33

2.7.2.2 Security and Privacy Issues                           ------------------------------------------33

2.8       E-Marketplaces                                                                                                                 

2.8.1  Types of e-marketplace                                                                                                       

2.8.2      E-Banking                                                                                                                    

2.8.3   Various Forms of E-Banking                                                                                           .....................................................................................   

2.8.4      Roles of Electronic Commerce (E-Commerce) in Banks                                             ..........................................   41   

2.9               Customers' Satisfaction and Orientation                                                                       ....................................................................   42   

2.10             Cash Management in the Bank                                                                                     ......................................

2.10.1      Management for Cash and Marketable Securities                                                      ...................................................   49   

2.11       Empirical Review      

2.12      Theoretical Framework                                                                                                     

2.12.1     Capital Rationing Theory:                                                                                            .......................................................

2.12.2     Merton and Bodie Theory:                                                                                           ........................................................................................   58   

2.12.3     Theories of economic development                                                                             ..........................................................................   59   

2.12.4      Trade-Off Model                                                                                                         ......................................................................................................   62   

CHAPTER THREE                                                                                                                .............................................................................................................   64   

RESEARCH METHODOLOGY                                                                                           ........................................................................................   64   

3.1     Introduction                                                                                                                       ....................................................................................................................   64   

3.2     Research Design                                                                                                                .............................................................................................................   64   

3.2       Sources of Data                                                                                                               ............................................................................................................   64   

3.3     Model Specification                                                                                                          .......................................................................................................   65   

3.3.1    The Correlation Coefficient                                                                                            .........................................................................................   67   

3.3.2   Coefficient of Determination                                                                                           ........................................................................................   68   

3.4       Data Analysis Technique                                                                                                ...................................................

3.5   Test of Difference of Means Method                                                                                  ...............................................................................   68   

CHAPTER FOUR                                                                                                                     

DATA PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS                         ......................   72   

4.1      Presentation of Data                                                                                                           

4.1.2      Descriptive Statistics                                                                                                    

4.2      Test of Hypotheses                                                                                                           

4.2.1      Hypothesis One                                                                                                            

4.2.2      Hypothesis Two                                                                                                           

4.2.3      Hypothesis Three                                                                                                          

4.2.4      Joint Relationship                                                                                                        

4.2.5      Joint Impact (F-Test)                                                                                                     

4.3      Discussion of Findings                                                                                                     

CHAPTER FIVE                                                                                                                   

SUMMARY, CONCLUSION AND RECOMMENDATIONS                                            .........................................   83   

5.1      Summary                                                                                                                        

5.2      Conclusion                                                                                                                        .......................................................   

5.3      Recommendations                                                                                                            .......................................   

References                                                                                                                                   ...................................................................   

Apendix                                                                                                                                       ........................................  

ix













Impact of Central Bank of Nigeria Cashless Policies on the Economic Growth In Nigeria (2010-2018
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

Share This
  • Type: Project
  • Department: Banking and Finance
  • Project ID: BFN1623
  • Access Fee: ₦5,000 ($14)
  • Pages: 103 Pages
  • Format: Microsoft Word
  • Views: 947

500
Leave a comment...

    Related Works

    A cashless economy is an environment in which money is spent without being physically carrying cash from one place to another. The need to run a more efficient and productive economy by reducing the amount of cash in circulation brought about the cash-less policy. The aim of this study is to investigate the impact of Central Bank of Nigeria’s... Continue Reading
    A cashless economy is an environment in which money is spent without being physically carrying cash from one place to another. The need to run a more efficient and productive economy by reducing the amount of cash in circulation brought about the cash-less policy. The aim of this study is to investigate the impact of Central Bank of Nigeria’s... Continue Reading
    A cashless economy is an environment in which money is spent without being physically carrying cash from one place to another. The need to run a more efficient and productive economy by reducing the amount of cash in circulation brought about the cash-less policy. The aim of this study is to investigate the impact of Central Bank of Nigeria’s... Continue Reading
    A cashless economy is an environment in which money is spent without being physically carrying cash from one place to another. The need to run a more efficient and productive economy by reducing the amount of cash in circulation brought about the cash-less policy. The aim of this study is to investigate the impact of Central Bank of Nigeria’s... Continue Reading
    ABSTRACT The Study aimed at exposing the implications of the Central Bank of Nigeria (CBN) cashless economy policy with a view to also unearthing the possible prospects and challenges it poses to the Nigeria economy. Analytically, this thesis, employs descriptive... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Governments around the world are adopting measures to encourage or require their agencies, private businesses and individuals to shift away from using cash towards digital payments. Some have offered incentives, such... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The introduction of electronic banking, online transactions and mobile banking in Nigeria has paved way for a new era of development where the use and demand for physical cash is gradually declining. These recent evolution of... Continue Reading
    ABSTRACT Monetary policies are a stabilization weapon used to regulate the value and cost of money in the economy, it is important for Central Bank of Nigeria to promote stability and a sound financial structure in Nigeria. Central Bank of a country is regarded as the apex bank regulatory institution of the financial system of a country.  Central... Continue Reading
    ABSTRACT Monetary policies are a stabilization weapon used to regulate the value and cost of money in the economy, it is important for Central Bank of Nigeria to promote stability and a sound financial structure in Nigeria. Central Bank of a country is regarded as the apex bank regulatory institution of the financial system of a country. Central... Continue Reading
    ABSTRACT Monetary policies are a stabilization weapon used to regulate the value and cost of money in the economy, it is important for Central Bank of Nigeria to promote stability and a sound financial... Continue Reading
    Call Us Get this work