CINJEL, Nandes Dickson
Department of Public Administration, Faculty of Management, Federal University Wukari,
Taraba State
KEFAS, Matakhitswen
Department of Public Administration, Faculty of Management, Federal University Wukari,
Taraba State
Email: ncinjel@yahoo.com
ABSTRACT
A cashless policy is a policy of a state on the operation of electronic technologies in running financial
transactions. A cashless society and economy is an environment in which money is spent without being carried
from one person to the other. The policy has been in operation in Nigeria for the past 13 years. This study seeks to examine its impact on socio-economic development. The study adopts the survey design. Data collection is based on a structured questionnaire instrument, while Chi-square and ANOVA tests are employed for data analysis and hypotheses testing. The sample size is 400. The study provides evidence that performance of cashless policy significantly depends on the level of its acceptance. Also, the study finds that cashless policy has significant impact on socio-economic development of Nigeria. However, factors such as inadequate ATM,
network glitches, among others, affect the implementation of the policy. The study recommends that
government should create awareness on the importance of the cashless policy as well as guarantee sufficient
availability of functional electronic technologies across the six geopolitical zones.
Keywords: Cashless policy, socioeconomic development, ANOVA, Chi-Square