PICTOGRAPHIC INTEGRAL OF CHALLENGES AND PROSPECTS OF CASHLESS FRUGALITY IN NIGERIA A

Ajibola Isaiah Olufemi, Nweze Nwaze Obini, Atanyi Emmanuel Yusuf and Ayomoh Ebo Eve
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Ajibola Isaiah Olufemi: Department of Statistics, Faculty of Natural and Applied Sciences, Nasarawa State University, Keffi, Nigeria.
Nweze Nwaze Obini: Department of Statistics, Faculty of Natural and Applied Sciences, Nasarawa State University, Keffi, Nigeria.
Atanyi Emmanuel Yusuf: Department of Statistics, Faculty of Natural and Applied Sciences, Nasarawa State University, Keffi, Nigeria.
Ayomoh Ebo Eve: Department of Statistics, Faculty of Natural and Applied Sciences, Nasarawa State University, Keffi, Nigeria.

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Abstract: Cashless frugality in Nigeria is an effort towards cashless transactions by reducing physical cash usage. The aim of the paper is to present the position of Nigeria being a cashless society and ascertain the challenges and prospects which are related with such transactions. The data sets of all thirty-six (36) states and the Federal capital territory (FCT) was used. Secondary data was gathered from Central Bank of Nigeria (CBN) statistical database/website as well as the Nigeria Interbank Settlement System (NIBSS) website. The data were analysed and symbolised graphically. The outcomes exhibited the introduction of cashless frugality in Nigeria is a step in the right direction which propelled frugality growth and development. In addition, the challenges, and prospects of cashless Nigeria in promoting electronic cash instruments and improving automated economic facilities was emphasized.

Date: 2021-08-05
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Published in Journal of Economics, Management and Trade, 2021, 6 (2), pp.25-36

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05155689

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