CASHLESS POLICY AND CONSUMERS ACCEPTABILITY (A CASE STUDY OF UMUAHIA METROPOLIS)

ABSTRACT

This research is on the investigation of cashless policy and consumer acceptability in umuaiah metropolis abia state. The general objective of this study was to investigate the cashless policy and consumer acceptability in Umuaiah metropolis Abia state. specific objective (1) To determine the level of acceptability of the CBN cashless policy on consumers (2) To examine the level of preparedness of the financial institutions in the terms infrastructures to provide the needed service to customers (3) To examine whether there is any incentive to encourage the consumers to embrace the policy to solve the research problem, primary and secondary data were collected. the research instrument used in collecting data was questionnaires. The respondents comprised of the relevant staff of and management of Diamond Bank plc Timber Branch, Abia state.in organizing and presenting data collected, tables, frequencies and percentage were used. The various hypothesis formulated were tested using chi-square. Data analysis and interpretation gave the following findings. The respondents were undecided about the majority of Nigerians who operate basic technological appliances. The respondent said that they strongly disagree that cashless policy a can prevent money laundry and –corruption and the respondent agree that the era of cashless policy will be advantageous to all sector of the economy.

TABLE OF CONTENTS

                                                                                                          Pages

Title page                                                                                                    i

Certification                                                                                                ii

Dedication                                                                                                   iii

Acknowledgement                                                                                      iv

Abstract                                                                                                      v

Table of contents                                                                                         vi

List of tables                                                                                               viii

CHAPTER ONE

Introduction

•         Background of the study:                                                                        1

•         Statement of Problems:                                                                           5

•         Objectives of the study:                                                                          7

•         Research Hypothesis                                                                              7

•         Research Question:                                                                                 8

•         The significance of the study                                                                  8       

CHAPTER TWO

Review of related literature

2.1 Academic review:                                                                                  9

2.1.1 Cashless Economy Policy:                                                                  9

2.1.2 Cash-Based Nigeria versus “Cashless” Nigeria: the Rationale for

 Policy Shift in Payment System and Cashless Policy.                         9

2.1.3  E-transactions and Consumer Protection:                                            14

2.1.4 Costs of the Cashless Economy                                                           17

2.1.5 Challenges of Cashless Economy                                                        22

2.1.6 Benefits of cashless economy                                                              25

2.2 Theoretical Review                                                                                26

CHAPTER THREE

METHODOLOGY

3.1Research design:                                                                                     37

•         Area of the study:                                                                                   37

•         Population of the study:                                                                          38

•         Sampling Techniques and method:                                                38

•         Determination of sample size:                                                                 39

•          Measurement of instrument                                                                    41

•         Source Of Data                                                                                       42

•         Validity and reliability of the instrument                                        42

CHAPTER FOUR

FINDINGS AND DISCUSSONS                                                                43

CHAPTER FIVE

SUMMARY OF FINDINGS, CONCLUSION AND

RECOMMENDATIONS                                                                   85

REFERENCE