European Journal of Economic and Business (ISSN - 2456-3900)

Cashless Policy and Financial Development in Nigeria

Monogbe G Tunde, Akinpelumi F Omotayo, Achugbu Austin, Nduka Joseph Afamefuna


This research systematically assesses the existent relationship between cashless policy and financial development in Nigeria, utilising post consolidated secondary data over a period from 2006 to 2014. It also employed the use of analytical techniques
such as ordinary least square (OLS), pairwise Granger causality test, correlogram, and correlation matrix. The research discovered that all employed predictor variables exhibited adverse and insubstantial association with the predictor variable over
the research period, it was along these lines that it prescribes that the money related industry ought to adjust to full and effective sending of data innovation as an upshot to its knowledge since the innovation is hopeless with virtual gathered increase;Nigerian banks ought to acknowledge reasonable danger level with respect to its general key and strategies for success. Banks ought to convey sufficient physical and electronica security both to square the occurrence of electronic stealing.


Finance and Banking

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