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Cash-less policy in Nigeria: challenges and prospects

Christopher E. Ekpu
Joseph Unufe


This paper examines cash-less policy in Nigeria: issues, challenges and prospects. It also highlights appropriate measures to be put in place to ensure its effectiveness and efficiency in its application. In sum, among the relevant issues that need to be resolved with respect to a cashless policy in Nigeria are: consumer protection; fraud detection; transaction monitoring; efficiency in record-keeping; transaction privacy and safety; competitive payment services; equal access to all consumers; and the right of choice of institutions and payment methods as well as overall system supervision. It is hoped that the cashless economy will help to stimulate and accelerate economic activities and development in Nigeria.

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