Author

  • Stephen O. Maitanmi

    • Department of Software Engineering, Babcock University, Ogun State, Nigeria
    • Nigeria

  • Adetunji O.

    • Department of Software Engineering, Babcock University, Ogun State, Nigeria
    • Nigeria

  • Joshua, A. A.

    • Department of Accounting, Mountain Top University, Ogun State, Nigeria
    • Nigeria

Abstract

The essence of this paper is to evaluate the practice of cashless policy that was introduced almost a decade ago in Nigeria. It was discovered through literature that the security threats of ATM users and the inappropriate use of POS are at an alarming rate. The paper used a structured questionnaire to collect data and the data were analyzed using descriptive statistics with the use of mean, median, and percentage. The results indicate that the awareness level is almost globally known, however; there are still more technological devices and development that are needed for Nigerians to be considered among the top 20 economies to drive the development and modernization of her payment system in line with the global vision. Based on the findings, some recommendations made were: POS should be approved only for the unbanked areas, panic alert buttons should be included in the ATMs, and comprehensive insurance should be available for ATM cash hijackers.

Keywords

References

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How to Cite

Maitanmi, S. O., O., A., & A. A., J. (2021). Evaluation of Cashless Policy in Nigeria: The Pros and Cons. Information Management and Business Review, 12(4(I), 39-46. https://doi.org/10.22610/imbr.v12i4(I).3127

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Research Paper

Published in

Vol. 12 No. 4(I) (2020) Municipal Finance, E-Commerce & Pandemic Resilience View issue contents

Published

2021-03-21

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