PICTOGRAPHIC INTEGRAL OF CHALLENGES AND PROSPECTS OF CASHLESS FRUGALITY IN NIGERIA

AJIBOLA, ISAIAH OLUFEMI; NWEZE, NWAZE OBINI; ATANYI, EMMANUEL YUSUF; AYOMOH EBO EVE

PICTOGRAPHIC INTEGRAL OF CHALLENGES AND PROSPECTS OF CASHLESS FRUGALITY IN NIGERIA

AJIBOLA, ISAIAH OLUFEMI

NWEZE, NWAZE OBINI

ATANYI, EMMANUEL YUSUF

AYOMOH EBO EVE

Journal of Economics and Trade, Page 25-36

Published: 5 August 2021

Abstract

Cashless frugality in Nigeria is an effort towards cashless transactions by reducing physical cash usage. The aim of the paper is to present the position of Nigeria being a cashless society and ascertain the challenges and prospects which are related with such transactions.

The data sets of all thirty-six (36) states and the Federal capital territory (FCT) was used. Secondary data was gathered from Central Bank of Nigeria (CBN) statistical database/website as well as the Nigeria Interbank Settlement System (NIBSS) website. The data were analysed and symbolised graphically. The outcomes exhibited the introduction of cashless frugality in Nigeria is a step in the right direction which propelled frugality growth and development. In addition, the challenges, and prospects of cashless Nigeria in promoting electronic cash instruments and improving automated economic facilities was emphasized.

Keywords:

Cashless society
international frugality
GDP
economic autonomy
cyberspace and pictorial

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How to Cite

OLUFEMI, A. I., OBINI, N. N., YUSUF, A. E., & EVE, A. E. (2021). PICTOGRAPHIC INTEGRAL OF CHALLENGES AND PROSPECTS OF CASHLESS FRUGALITY IN NIGERIA. Journal of Economics and Trade, 6(2), 25-36. Retrieved from https://ikpresse.com/index.php/JET/article/view/6795

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