ELECTRONIC PAYMENT CHANNELS IN THE NIGERIA BANKING SECTOR AND ITS IMPACTS ON NATIONAL DEVELOPMENT
Journal Title: Asian Economic and Financial Review - Year 2015, Vol 5, Issue 3
Abstract
Electronic payment channels (EPC) are fast growing in Nigeria and are now the order of the day for effecting payments. These methods have brought a lot of convenience to both individual and corporate customers, unlike many years ago when the economy was heavily cash driven. This study examines the impact of electronic payments channels (EPC) on National development (ND). The survey was targeted at current and savings accounts customers of deposit money banks in Nigeria. One hundred and twenty (120) questionnaires were administered in six (06) banks in Ado ?Ekiti metropolis. Ninety-Eight (98) questionnaires were returned for processing. The data was analyzed using inferential statistics specifically with the use of chi-square. The study reveals that electronic payment channels (EPC) have impacted on the economy and therefore contributing positively to national development (ND). It was recommended that the Central Bank of Nigeria (CBN) should mount other e-payment products for the promotion of trade and commerce in Nigeria. The Central Bank of Nigeria (CBN) should embark on intensive campaign for complete adoption of e-payment products especially at the grassroots level among others.
Authors and Affiliations
Tijani, J. A. *| Department of Banking and Finance, The Federal Polytechnic, Ado-Ekiti, Ekiti State, Nigeria, Ilugbemi, A. O. | Department of Banking and Finance, The Federal Polytechnic, Ado-Ekiti, Ekiti State, Nigeria
Keywords
Related Articles
- EP ID EP2184
- DOI -
- Views 485
- Downloads 103
EVALUATION IN DYNAMIC PROCESS SPILLOVER EFFECT: ELEVEN MAJOR EXCHANGE RATE MARKETS
This paper analyzes the dynamic process of the spillover effects among major eleven exchange rate markets. The period spanning from 2000 to 2014 includes several financial crises and Chinese monetary reforms. By the vect...
THE DETERMINANTS OF MARKET EMPLOYMENT CAPACITY OF ENTERPRISES IN JIGAWA STATE OF NIGERIA
This paper examines the determinants of market employment capacity of enterprises in Jigawa state, we used primary data collected from 300 entrepreneurs drawn base on purposive and random sampling techniques from three m...
MOMENTUM DECOMPOSITION: EVIDENCE FROM EMERGING MARKETS
To explain the reason why momentum effect in emerging markets is much weaker than that in developed markets. We divide the traditional momentum returns into intra-style momentum and inter-style momentum effect on the bas...
DOES THE BURDEN OF CORPORATE INCOME TAX BORNE BY LABOUR THROUGH REDUCED WAGE RATES OR LABOUR HOURS, RESULTING IN A LOWER COST OF LABOUR TO THE FIRM?
Shareholders ability to shift the burden of the tax to the consumer or labour depends largely on the mobility of capital. If the investor can move from the corporate sector into the non corporate sector, the laws of supp...
IS GLOBALISATION A POTENT DRIVER OF ECONOMIC GROWTH? INVESTIGATING THE NIGERIAN NON-OIL EXPORTS
Many countries have gained from integrating into the global economy while some have not been as much fortunate. Some have come to see globalisation as a weapon for improved economic growth. With the progressive increase...