Cashless Policy And Economic Growth In Nigeria:- Iheanacho C

ABSTRACT

 The study investigated the analysis of cashless policy on economic growth in Nigeria. The objectives ofthe study were to determine the effect of cashless policy instruments on inflation rate in Nigeria and to ascertain the effects of cashless policy on gross domestic product in Nigeria. The study employed ordinary least square regression technique. Thus, revealed that; Automated Teller Machine (ATM) has a positive and significant impact on real gross domestic product in Nigeria. Mobile Banking, internet Banking and Electronic Banking (MIE), also have a positive and significant impact on real gross domestic product in Nigeria. Point ofSale (POS) has a positive and significant impact on real gross domestic product in Nigeria. Based on thefinding, the study recommended that; government should encourage cashless policy to reduce the level ofinflation rate through the activities ofmonetary authorities by encouraging the activities commercial banks in Nigeria. There is need for government to step up in regulating the rate ofmoney supply through cashless activities by the monetary authorities (CBN) for the reduction in money supply and its effect on the economy which will be visible through cashless policy operations