DOIONLINE 
DOIONLINE Publish In |
International Journal of Management and Applied Science (IJMAS)-IJMAS |
 Journal Home Volume Issue |
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Issue |
Volume-3,Issue-9 ( Sep, 2017 ) | |||||||||
Paper Title |
Returns of The Cashless Policy in Nigeria | |||||||||
Author Name |
Mpho Bosupeng | |||||||||
Affilition |
The University of Newcastle, Callaghan, Australia | |||||||||
Pages |
10-14 | |||||||||
Abstract |
The introduction of the cashless policy in March 2012 aimed to drive development and advance payment systems in Nigeria. In addition, the policy aimed to reduce costs related to banking and facilitate the progression of monetary policy decisions and economic growth. To date, the extant literature has not directly evaluated the effectiveness of the system but only attempts to evaluate the benefits and adverse effects of the cashless policy in Nigeria. This study evaluates the impact of the cashless arrangement in Nigeria on different macroeconomic variables which are unemployment rate, GDP, FDI, corruption and money supply. The study uses data immediately before and post the introduction of the cashless policy in 2012. The analysis shows that the cashless policy has largely been valuable to Nigeria, considering the positive effects on GDP, unemployment rate and money supply. Index Terms: Cashless Policy; Economic Growth; Money Supply | |||||||||
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