Select Currency
Translate this page

PERCEPTION OF BANK CUSTOMERS ON CBN'S CASHLESS POLICY IN NIGERIA

Format: MS WORD  |  Chapter: 1-5  |  Pages: 65  |  6275 Users found this project useful  |  Price NGN5,000

  DOWNLOAD THE FULL PROJECT

PERCEPTION OF BANK CUSTOMERS ON CBN'S CASHLESS POLICY IN NIGERIA

 

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND TO THE STUDY

The recent innovation of technology for financial transactions poses interesting questions for policy makers and financial institutions regarding the suitability of current institutional arrangements and availability of instruments to guarantee financial stability, efficiency, effectiveness of monetary policy and achievement of sustainable economic growth in Nigeria considering the perception of the populace (Ajayi and Ojo, 2016).

Over the course of history, different forms of payment systems have been in existence. Initially, “trade by barter” was common. However, the problems of barter such as the double coincidence of wants necessitated the introduction of various forms of money. Nevertheless, pundits have been predicting the complete demise of study instruments and the emergence of potentially superior substitute for cash or monetary exchanges that is cashless society (Wikipedia 2011). Since Nigeria‘s Independence in 1960, there have been different governments, constitutional reforms, change in economic policies and banking reforms, mainly directed at enhancing social welfare and achieving developmental goals but there has been no substantial positive change in Nigeria‘s Human Development Indicators.

Banks are the linchpin of the economy of any country. They occupy central position in the country’s financial system and are essential agents in the development process (Adewoye, 2013). By intermediating between the surplus and deficit savings units within an economy, banks mobilize and facilitate efficient allocation of national savings, thereby increasing the quantum of investments and hence national output. In a developing economy such as Nigeria, financial sector development has been accompanied by structural and institutional changes and the sector generally has long been recognized to play a crucial role in the economic development of the nation. Monetary Policy is the regulation of the money supply and interest rates by a Central Bank in order to control inflation and stabilize currency.

The Central Bank of Nigeria (CBN) undertakes monetary policy in order to maintain Nigerian’s external reserve, safeguard the international value of the legal currency, promote and maintain monetary stability. Similarly, it acts as a sound and efficient financial system in Nigeria, as a banker and financial adviser to the Federal Government and as lender of last resort to the banks. Consequently, in pursuance of its functions in compliance with the core mandate, the CBN as a result of change which is a constant factor, has engaged in series of reformations aimed at both making the financial system formidable and enhancing the overall economic performance of Nigeria so as to place it on the right path in tune with global trends.

The payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other. Therefore, it represents the major foundation of the modern market economy. Essentially, there are three pivot roles for the payments system namely; the Monetary Policy role, the financial stability role and the overall economic role (CBN, 2011).

1.2   STATEMENT OF THE PROBLEM

Most Less Developed Countries like Nigeria are on the transition from a pure cash economy to cashless one for developmental purposes. To reduce the cost of banking services (including cost of credit) and drive financial inclusion by providing more efficient transaction options and greater reach and to improve the effectiveness of monetary policy in managing inflation and driving Nigerian economic growth (CBN,2013). In addition, the cashless policy aims to curb some of the negative consequences associated with the high usage of physical cash in the economy, including: high cost of cash: high risk of using cash, high subsidy, informal economy and inefficiency & corruption (CBN, 2011)

Customers demand efficient, fast and convenient services. Customers want a Bank that will offer them services that will meet their particular needs (personalized Banking) and support their Business goals for instance; businessmen want to travel without carryout cash for security reasons. They want to be able to check their balance online, find out if a cheque is cleared, transfer funds among accounts and even pay their bills online. However, this study is examining the perception of Bank customers on the CBN’s cashless policy in Nigeria.

1.3   OBJECTIVES OF THE STUDY

The following are the objectives of this study:

1.  To examine the perception of Bank customers on the CBN’s cashless policy in Nigeria.

2.  To examine the perception of bank customer on the reliability and effectiveness of the CBN’s cashless policy in Nigeria.

3.  To determine the advantages and disadvantages of the CBN’s cashless policy in Nigeria.

1.4   RESEARCH QUESTIONS

1.  What is the perception of Bank customers on the CBN’s cashless policy in Nigeria?

2.  What is the perception of bank customer on the reliability and effectiveness of the CBN’s cashless policy in Nigeria?

3.  What are the advantages and disadvantages of the CBN’s cashless policy in Nigeria?

1.6   SIGNIFICANCE OF THE STUDY

The following are the significance of this study:

1.  Results of this study will educate the general public on the perception of bank customer on the CBN’s cashless policy in Nigeria.

2.  This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic
1.7   SCOPE/LIMITATIONS OF THE STUDY

This study will cover the attitude, views and opinion of bank customers on the effectiveness and general implementation of the CBN’s cashless policy in Nigeria.

LIMITATION OF STUDY

Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).  
Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.  

REFERENCES

Adewoye J.O. (2013). Impact of mobile banking on service delivery  in the Nigerian commercial banks. Int. Rev. Manage. Bus. Res. 2(2):333-344.
Ajayi S.I. & Ojo O.O. (2006).Money and banking: Analysis and policy in the Nigerian context. Ibadan Daily Graphics. Central Bank of Nigeria (2011). “Further Clarification on Cashless Lagos Project” Retrieved from www.cenbank.org/cashless
Central Bank of Nigeria (2003). Guidelines on Electronic Banking in Nigeria. August.

  DOWNLOAD THE FULL PROJECT

PERCEPTION OF BANK CUSTOMERS ON CBN'S CASHLESS POLICY IN NIGERIA

Not The Topic You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005


HOW TO GET THE COMPLETE PROJECT ON PERCEPTION OF BANK CUSTOMERS ON CBN'S CASHLESS POLICY IN NIGERIA INSTANTLY

  • Click on the Download Button above.
  • Select any option to get the complete project immediately.
  • Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
  • All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Oluchi From Michael Opara University
If you are a student and you have not used iprojectmaster materials, you are missing big time! iprojectmaster is the BEST
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Abdulrazak Bello Marsha
Usman Dan fodio University
It was quite a better guide for project and paper presentation purpoting. Many thanks.
Average
Abubakar Iliyasu Hashim
Federal college of education pankshin affiliated to university of jos
I am highly impressed with your unquantifiable efforts for the leaners, more grace to your elbow.I will inform my colleagues about your website.
Very Good
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Abdul Mateen Iddrisu
UDS
At first I taught is a site full of fraudsters until I saw my project in my Gmail after my payment.. THANK YOU IPROJECTMASTER and May God the almighty bless u guys abundantly
Excellent
Abdulrahman Jibrin
Nti Abaji
Nice one work prompt delivery tanx
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Musa From Ahmadu Bello University
Thank you iprojectmaster for saving my life, please keep it up and may God continue to bless you people.
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on PERCEPTION OF BANK CUSTOMERS ON CBN'S CASHLESS POLICY IN NIGERIA?

Simply click on the Download button above and follow the procedure stated.

I have a fresh topic that is not on your website. How do I go about it?

How fast can I get this complete project on PERCEPTION OF BANK CUSTOMERS ON CBN'S CASHLESS POLICY IN NIGERIA?

Within 15 minutes if you want this exact project topic without adjustment

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

What if I want to change the case study for PERCEPTION OF BANK CUSTOMERS ON CBN'S CASHLESS POLICY IN NIGERIA, What do i do?

Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

How will I get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!