THE IMPACT OF THE CBN'S CASHLESS POLICY ON THE DEVELOPMENT OF THE BANKING SECTOR OF NIGERIA

THE IMPACT OF THE CBN'S CASHLESS POLICY ON THE DEVELOPMENT OF THE BANKING SECTOR OF NIGERIA 

ABSTRACT  

Financial transactions involving the use and movement of physical cash are gradually declining with the introduction of the CBN’s Cashless policy. This development has been of great concern to the economist, the government of Nigeria and financial institutions. This aim of this study is to evaluate financial and economic transactions under the new CBN’s cashless policy and how the development has enhanced the financial sector of the economy of Nigeria. Concerning methodology, both primary and secondary data were used for the study. Respondents mostly bank employees and customers were issued well design and structured questionnaires to effectively examine the new developments brought about by the introduction of the cashless policy with respect to how financial transactions are being managed and the overall impact the cashless policy has had on the development of the financial sector of the economy of Nigeria. Hypotheses were formulated to test assumptions and claims generated from the study. The T-test was employed to test the statistical significance of the estimated parameter at a 5% level of significance. R-squared was used to test the measure of goodness of fit of the models developed for the study.  Moreover, F-statistics was also used to test the joint statistical significance of the explanatory variable and the dependent variable. The study concludes that both cashless technological money i.e e-money and cash currency should be in the economy simultaneously, e-money alone cannot operate successfully in an economy except the few privileged will oppress the majority who are less-privileged

The development of innovative cashless banking has the potential to transform economic activity and achieve developmental goals. If an effective cashless banking system can be developed and the below recommendations are carried out then it will have desired impact on the Nigerian economy. Therefore, trusted central banks and governments must play a key role in promoting the development of popular forms of e-banking channels.

TABLE OF CONTENTCHAPTER ONEINTRODUCTION 1.1 Background to the Study 1.2 Statement of the Problem 1.3 Objectives of the Study 1.4 Research Questions 1.5 Hypotheses of the Study 1.6 Significance of the Study 1.7 Scope of the study References

CHAPTER TWOLITERATURE REVIEW 2.0. Introduction 2.1.  Conceptual Review 2.2.1.  A Glimpse at Pre-Cashless Policy Era 2.1.2. Conceptualizing Cashless Economy 2.1.3 Cashless Policy and Electronic Payment via E-banking 2.1.4.     Type of Electronic Banking 2.1.5.   Challenges of Cashless Policy Implementation in Nigeria 2.1.6.  Prospects of Cashless Policy 2.1.7. Relative Rationale and Impact of a Cashless Economy 2.2. Theoretical Review 2.2.1.     Rogers’ Diffusion Theory 2.3 METHODOLOGICAL REVIEW 2.4.  EMPIRICAL REVIEW 2.4.   Summary of Literature References

CHAPTER THREERESEARCH  METHODOLOGY 3.1 Introduction 3.2 Research Design 3.3 Population 3.4 Sample and Sampling Technique 3.6 Sources of Data 3.7 Instrument for Data Collection 3.8 Data Analysis Technique References

CHAPTER FOURDATA ANALYSIS AND INTERPRETATION 4.1 Introduction 4.2 Demographic Information of the Respondents 4.3 Analyzing Section B of the Questionnaire 4.4. Analysis of the research Hypothesis   4.4.1    Data Estimation and Evaluation Techniques Model Estimation

CHAPTER FIVESUMMARY OF FINDINGS, RECOMMENDATION, AND CONCLUSION 5.0. Introduction 5.1. Summary of Major Findings 5.2.   Conclusion 5.3.  Recommendation 5.4.  Suggestion for further StudiesBIBLIOGRAPHYRegression Results

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How To Write Chapter Three Of Your Research Project (Research Methodology)

  • Methodology In Research Paper


    Chapter three of the research project or the research methodology is another significant part of the research project writing. In developing the chapter three of the research project, you state the purpose of research, research method you wish to adopt, the instruments to be used, where you will collect your data, types of data collection, and how you collected it.

    This chapter explains the different methods to be used in the research project. Here you mention the procedures and strategies you will employ in the study such as research design, study design in research, research area (area of the study), the population of the study, etc. You also tell the reader your research design methods, why you chose a particular method, method of analysis, how you planned to analyze your data.

    Your methodology should be written in a simple language such that other researchers can follow the method and arrive at the same conclusion or findings.

    You can choose a survey design when you want to survey a particular location or behavior by administering instruments such as structured questionnaires, interviews, or experimental; if you intend manipulating some variables.

    The purpose of chapter three (research methodology) is to give an experienced investigator enough information to replicate the study. Some supervisors do not understand this and require students to write what is in effect, a textbook.

    A research design is used to structure the research and to show how all of the major parts of the research project, including the sample, measures, and methods of assignment, work together to address the central research questions in the study. The chapter three should begin with a paragraph reiterating the purpose of research. It is very important that before choosing design methods try and ask yourself the following questions: Will I generate enough information that will help me to solve the research problem by adopting this method?

    Method vs Methodology

    I think the most appropriate in methods versus methodology is to think in terms of their inter-connectedness and relationship between both. You should not beging thinking so much about research methods without thinking of developing a research methodology.

    Metodologia or methodology is the consideration of your research objectives and the most effective method and approach to meet those objectives. That is to say that methodology in research paper is the first step in planning a research project work.

    Design Methodology: Methodological Approach

    Example of methodology in research paper, you are attempting to identify the influence of personality on a road accident, you may wish to look at different personality types, you may also look at accident records from the FRSC, you may also wish to look at the personality of drivers that are accident victims, once you adopt this method, you are already doing a survey, and that becomes your metodologia or methodology.

    Your methodology should aim to provide you with the information to allow you to come to some conclusions about the personalities that are susceptible to a road accident or those personality types that are likely to have a road accident.

    The following subjects may or may not be in the order required by a particular institution of higher education, but all of the subjects constitute a defensible in metodologia or methodology chapter.

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