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eISSN: 2581-9615 || CODEN: WJARAI || Impact Factor 8.2 ||  CrossRef DOI

Research and review articles are invited for publication in April 2026 (Volume 30, Issue 1) Submit manuscript

Cashless policy and socio-economic development in Aba City Nigeria

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  • Cashless policy and socio-economic development in Aba City Nigeria

Ngwu Kenechukwu Christian, Odo Kenneth Ejiofor and Okereke Simon Chukwudi *

Department of Banking and Finance, Federal Cooperative College, Oji River, Enugu State, Nigeria.
 
Research Article
World Journal of Advanced Research and Reviews, 2024, 24(01), 1889-1900
Article DOI: 10.30574/wjarr.2024.24.1.3244
DOI url: https://doi.org/10.30574/wjarr.2024.24.1.3244
 
Received on 11 September 2024; revised on 21 October 2024; accepted on 23 October 2024
 
The study examined impact of cashless policy on socio-economic development in Aba City. Specifically, the study sought to: examine the impact of automated teller machine (ATM) transaction on living condition in Aba City and determine the impact of Point of sales transaction (POS) transaction on employment generation in Aba City. The research design was descriptive survey research design. Study Area was Aba City, Nigeria. The sample size of 400 respondents was drawn from population of 2.534 million (estimated population 2016) indigenes of Aba City. The sample size of 400 respondents was drawn with Taro Yamane sampling technique. Research questions of the study were answered using mean score and standard deviation. The hypotheses stated were tested using regression analysis. The empirical result of the study showed that automated teller machine (ATM) transaction has significant impact on living condition in Aba City (t-statistic = 6.446; P-value (0.000) < Sig-value (0.05) and Point of sales transaction (POS) transaction has significant impact on employment generation in Aba City (t-statistic = 7.238; P-value (0.000) < Sig-value (0.05). The study recommended that monetary authority of Nigeria (Central Bank of Nigeria) should provide public enlighten education and awareness on the benefits of automated teller machine, point of sales, and internet banking as enhancers of cashless policy in Nigeria.
 
Cashless policy; Automated teller machine (ATM); Point of sales transaction (POS)
 
https://wjarr.com/sites/default/files/fulltext_pdf/WJARR-2024-3244.pdf

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Ngwu Kenechukwu Christian, Odo Kenneth Ejiofor and Okereke Simon Chukwudi. Cashless policy and socio-economic development in Aba City Nigeria. World Journal of Advanced Research and Reviews, 2024, 24(1), 1889-1900. Article DOI: https://doi.org/10.30574/wjarr.2024.24.1.3244

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