Priye Werigbelegha Andabai (PhD), Percy Avery Bina (PhD)


The study examines the impact of cashless policy on deposit money banks performance Nigeria; for the period 2000-2018. Secondary data were used and collected from Central Bank of Nigeria Statistical Bulletin. This study used automated teller machine (ATM), point-of-sale (POS), and mobile banking (MB) as the explanatory variables to measure cashless policy; whereas, return on assets of deposit money banks was proxy for deposit money banks performance and employed as dependent variable. Hypotheses were formulated and tested using Ordinary Least Square (OLS). There is a significant impact of automated teller machine transaction on return on assets of deposit money banks in Nigeria. Point on Sales terminal transactions have a significant impact on return on assets of deposit money banksin Nigeria. Electronic mobile payment has a significant impact on return on assets of banks in Nigeria. .The coefficient of determination indicates that about 47% of the variations in banks profitability can be explain by changes in cashless policy variables ((ATM, POS, MB) in Nigeria. The study concludes that cashless policy has a significant impact on deposit money banks performance in Nigeria. The study recommends that The policy makers should ensure that effective deployment of information technology due to its sophistication since the technology with relative perceived advantage. Policy makers and regulatory authorities should be able to provide security by physically and electronically to check the incidence of hacking by fraudsters .The management deposit money banks should from time to time train customers with regard to electronic banking benefits, its risk exposure, physical and electronic security to avoid financial loss in the hands of fraud stars .The operators should create an enlightenment to their customers on the convenience and importance of adopting mobile banking channel in completing their transactions.


Cashless Policy, Deposit, money banks, performance, Nigeria

Full Text:



Akhalumeh, P.I. B., & Ohiokha, F. (2017). Nigeria’s cashless economy: The imperatives. International Journal of Management and Business Studies,2(2), 22-31.

Alawiye, D (2017). The cashless Nigerian project. Global advanced research. Journal of Management and Business Studies. 2 (1), 24-34.

Ajayi, S.I & Ojo, O.O(2006).Money and Banking: Analysis and Policy in the Nigerian

Context, Ibadan.

Adewoyw, J. O. (2018). Impact of mobile banking on service delivery in the Nigerian commercial banks. International Review of Management and Business Research, 2(2), 333-344.

Agbjuekere (2018). Impact of e- banking in Nigeria, Problems and prospects from the consumer’s perspective. International Journal of Economics, 34(8), 1234-1243.

Awgu, M. E.& Carter AL (2017). Mobile phone banking in Nigeria: Benefits, problems and prospects, International Journal of Business Communication, 3(6), 50-70.

AL-Refaee, K. M. (2018). The effect of e-commerce on the development of accounting information systems in the Islamic banks. American Journal of Applied Sciences, 9(9), 1479-1490.

Daniel, D. G., Swartz, R. W., & Fermar, A. L. (2017). Economics of a cashless society: an analysis of costs and benefits of payment instruments‖, AEI-Brookings Joint Center

Echekoba, F.N., and Ezu, G.K. (2016). Electronic retail payment systems: user acceptability & payment problems in Nigeria. Arabian Journal of Business & Management Review, l(5), 60 – 63.

Ejiro, O. (2018): What Nigerians think of the cashless economy policy. Nigerian Journal of Economy. 4(6), 97 –102.

Humphrey, D.B. (2016). Replacement of cash by cards in US consumer payments. Journal of Economics and Business, 56, 211-225

King, R.G., & Levine, R. (1993). Finance and growth: Schumpeter might be right. Quarterly Journal of Economics, 108, 717-738.

King, R. G. & Levine R. (1993). Financial intermediation and economic development, in: financial intermediation in the construction of Europe, Eds: C. Mayer and X. Vives, London: Centre for Economic Policy Research,6(8), 156-189.

Kerlinger, F. N. (1973). Foundations of Behavioural Research. 2nd Edition. Holt, Rinehart and Winston.

Moses – Ashike, H. (2018). Cashless economy can reduce risk of carrying huge cash, p://…/22217. Assessed 20th March, 2019.

Nzotta, S.M. (2014). Money, Banking and Finance: Theory and Practice. Revised Edition, Hudsion-Jude. Owerri, Nigeria.

Okpe, R. G & Bamson, G (2018). Interest Rate and Savings mobilization: An Empirical Investigation of Financial Repression. International Journal of Management Business Studies, 33(7); 382-389.

Onwumere, J.U.J. (2009). Business and Economic Research Methods. Enugu: Vougasen Publishers.

Osundina J.A. & Osundina C. K. (2017). Interest rate and investment decision in Nigeria.

IOS Journal of Economics and Finance, 2(4), 8-14

Ojeedokun, G. V. (2018).The role of financial institutions and economic growth in Nigeria: The results from Granger’s Test. Journal of finance and Development Research, 27(4), 201- 211

Odedokun, M. O. (2018) Financial intermediation and economic growth in developing countries. Faculty of Commerce, University of Swaziland, Swaziland

Odior, E.S., and Banuso, F.B. (2018), Cashless banking in Nigeria: challenges, benefits & policy implications.European Scientific Journal. 8(4),12 – 16.

Oyetade L. and Ofoelue, O.(2012).Research Methods in Social Sciences, Edward Arnold

Publishers Ltd. London


  • There are currently no refbacks.


ISSN PRINT: 2705-2494

ISSN ONLINE: 2705-2486



Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.