IMPACT OF CASHLESS SOCIETY ON EMOTIONAL VALUE AND SIGNIFICANCE OF MONEY

IMPACT OF CASHLESS SOCIETY ON EMOTIONAL VALUE AND SIGNIFICANCE OF MONEY (A CASE STUDY OF THE NIGERIA ECONOMY)

ABSTRACT

This study examined the impact of cashless society on emotional value and significance of money with emphasis to Nigeria economy. The main aim of the study was to determine the cashless policy affect the Nigeria economy. Primary sources of data were adopted which involves the administration of questionnaires designed in likert scale format. The design adopted for the study was survey research design and data administered were analyzed percentages and t-test with the aid of SPSS. The study finds out there is significant relationship between values of cash transfer from Automated Teller Machine on Gross Domestic Product and Value of point of sale has significant relationship on Gross Domestic Product. It was recommended that there is need for an increase in installation of more automated teller machine in the country and particularly Bida, Niger State. This will in turn increase the gross domestic product and the cost associated with transacting with point of sale terminals should be reduced so as to encourage e-banking policies thereby increasing the gross domestic product.