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CASHLESS SOCIETY: DRIVE'S AND CHALLENGES IN NIGERIA

Authors: OGBONNA Chibueze , AWODELE Oludele , Osundina Samuel

Publication Type: Journal article

Journal: International Journal Of Information Sciences And Techniques (ijist)

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Abstract

The purpose of this paper is to examine how we can achieve a cashless society in Nigeria especially given
her infrastructure deficits. This study examines the cashless economic system so as to assess its feasibility
in Nigeria with regards to timeless, preparedness and adequacy against the backdrop of our level of
development both technologically and educationally. Nigeria has continued to evolve in different realms.
The economy is being reformed, the institutions are being reshaped and laws are being re-examined so as
to reposition the nation to take its rightful position in the international community. As a way of fasttracking
the Nigerian economy so as to be among the first 20 world economies come 2020, Nigeria
proposed 2012 for the adoption of the cashless economy system starting with Lagos State but could not
realized its objective. The study used structured questionnaire as a means of data collection and the
collected data were analyzed using simple percentage procedure. The results indicate that: majority of
Nigerians are already aware of the policy and majority agree that the policy will help fight against
corruption/money laundering and reduce the risk of carrying cash and can also foster economic growth.
Major problems envisaged that can hinder the implementation of the policy are: cyber fraud, limited point
of sales and numeracy illiteracy. Based on the findings some recommendations made are: the government
should adopt a different strategy to educate the non-literate Nigerians about the cashless economy; and the
Federal Government of Nigerian should establish a Cybercrime law.

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OGBONNA,C. AWODELE,O. Osundina,S. . (2013). CASHLESS SOCIETY: DRIVE'S AND CHALLENGES IN NIGERIA, 2 (), 1-1.

OGBONNA,C. AWODELE,O. Osundina,S. . "CASHLESS SOCIETY: DRIVE'S AND CHALLENGES IN NIGERIA" 2, no (), (2013): 1-1.

OGBONNA,C. and AWODELE,O. and Osundina,S. and . (2013). CASHLESS SOCIETY: DRIVE'S AND CHALLENGES IN NIGERIA, 2 (), pp1-1.

OGBONNAC, AWODELEO, OsundinaS, . CASHLESS SOCIETY: DRIVE'S AND CHALLENGES IN NIGERIA. 2013, 2 ():1-1.

OGBONNA,Chibueze , AWODELE,Oludele , and Osundina,Samuel . "CASHLESS SOCIETY: DRIVE'S AND CHALLENGES IN NIGERIA", 2 . (2013) : 1-1.

O.Chibueze A.Oludele & O.Samuel , "CASHLESS SOCIETY: DRIVE'S AND CHALLENGES IN NIGERIA" vol.2, no., pp. 1-1, 2013.

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