The paper assessed the implication of the implementation of cashless policy introduced in 2010 on the economy of Nigeria with its antecedent challenges. Cashless policy entails the process whereby a larger proportion of payment in an economy are carried out without the use of physical cash but the use of various electronic instruments such as debit cards, credit cards, transfer and other electronic banking devices. Primary data were sourced through the instrument of questionnaire served on respondents. The data were analysed using simple percentages and the formulated hypotheses were tested with the aid of t – test and chi – square (x2). It was found out from the analysis that the cashless policy was embraced by the populace as a better alternative in cash transactions and management and has impacted positively on the Nigerian economy amidst some challenges. The researcher therefore recommends that the monetary authorities and the service providers to gear up in providing security alertness and other infrastructural facilities like information technology, power supply among others in order to enhance the smooth implementation of cashless policy in Nigeria.
Cashless policy, Service Providers, Electronic Device, E- payment, Information Technology, Cash Transaction
