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PROJECT TOPIC AND MATERIAL ON THE CENTRAL BANK OF NIGERIA (CBN) CASHLESS POLICY AND THE NIGERIA ECONOMY
The Project File Details
- Name: The Central Bank Of Nigeria (Cbn) Cashless Policy And The Nigeria Economy
- Type: PDF and MS Word (DOC)
- Size: [70 KB]
- Length:  Pages
1.1. Background of the study
It is no longer news that the cashless policy introduced by the Central Bank of Nigeria (CBN) has formally taken effect nationwide on July 1, 2014. It is good to know that despite the challenges that characterized the preparation and test run of the scheme in a few selected states, the CBN has gone ahead to implement the policy nationwide. It is believed that the policy implementation will get better as time goes by as it is almost impossible to record a perfect launch anytime in Nigeria.
The scheme which was initially introduced in Lagos in 2011, soon spread and cashless transaction became effective in Abuja and the five states of Abia, Anambra, Kano, Ogun and Rivers in October 2013. On the back of the successes of the scheme observed in these states and the federal capital territory, the Apex bank decided to implements the policy in the remaining thirty states in the country.