In Nigeria, cashless frugality refers to a move toward cashless transactions via decreasing the use of real cash. The purpose of this paper is to present Nigeria’s status as a cashless society, as well as the obstacles and opportunities that such transactions bring.
All thirty-six (36) states and the Federal capital territory (FCT) data sets were used. Secondary data was acquired from the Nigeria Interbank Settlement System (NIBSS) website and the Central Bank of Nigeria (CBN) statistical database/website. The data was analysed and graphically represented. The findings revealed that introducing cashless frugality in Nigeria was a positive step that aided frugality growth and development. Furthermore, the difficulties and potential of a cashless Nigeria in terms of promoting electronic cash instruments and developing automated economic facilities were highlighted.
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