Cashless policy initiative in Nigeria: outline of crucial socio-economic and regulatory considerations

What is it about?

The Central Bank of Nigeria (CBN) recently launched Nigeria’s cashless policy initiative which seeks to reduce financial crime and tax avoidance, decrease cash dependency, advance the adoption of digital financial services (DFS), decrease the risks to the payment system and foster financial inclusion. This study aims to identify the unique challenges of going cashless in Nigeria, particularly in terms of infrastructural, exclusionary and cost implications of the policy on the average citizens.

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