Abstract:The Central Bank of Nigeria (CBN) in a bid to reduce inflation and stabilize the country's economy, introduced cashless policy in 2012. The move became more pronounced following the recent efforts to redesign the country's 200, 500 and 1,000-naira local currency denominations, which resulted in high scarcity of money in circulation. Since then, the initiative has remained a contentious issue. This study appraised the level of success, impacts, challenges and prospects of the policy as reported in select Nigeri… Show more
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