Cashless Policy and Economic Growth: The Nigeria Perspective

This study examined the impact of cashless policy on economic growth in Nigeria with the objective of finding out the effect of ATM, POS, RET and WEB on Real Gross Domestic Product in Nigeria. The study employed the ex-post facto and secondary date covering the period 2008 to 2018 gotten from CBN Statistical Bulletin was used for analysis with help of E-view 9 soft ware. Descriptive statistics and multiple regression of least square regression were carried out. This finding of the study showed that ATM, RET and WEB has no significant impact on real gross domestic product while POS was shown to be a significant determinant of real gross domestic product and the study concluded that cashless policy does not impact positively and significantly on economic growth in Nigeria. The study recommended that regulatory authorities should by way of constant supervision enforce implementation of cashless policy and the general public should be encouraged to embrace cashless policy by engaging the various channels in their day to day business transactions.