THE IMPACT OF CASHLESS POLICY IN PROMOTING FINANCIAL TRANSACTION AMONG SMALL SCALES ENTREPRENEURS

The purpose of this study was to find the impact of cashless policy in promoting financial transaction among small scales entrepreneurs among top 4 enterprises in Nigeria, Kano city: Gyada oil Mills, Lucky brother's, Abiyad co Nigeria LTD, BBY super sack LTD. Questionaires were used to collect data from 120 respondent's. (Representing 95%) were returned the data collected was analyzed using frequency table and percentages while for non parameter statistical test was used to test the formulated research questions. The finding the of study showed that the implementation of the cashless policy has no significant impact in promoting financial transaction among small scales entrepreneurs. It also showed that the policy has positively affected the development of the enterprises, people who are not familiar with cashless policy doesn't accept transfer, reduces daily activities. However, inadequate technological infrastructures, high rate of cyber crime and high rate of illiteracy, among other are hindering the full implementation and benefit of the policy during the period of the study. It was therefore recommended that government should put in place a law preventing cyber crime and intensity public enlightment campaign about the cashless system. The small scales entrepreneurs should be properly trained about the operations of the policy. Adequate technological infrastructures sufficient to cope with small scales entrepreneurs should be put in place without which the objectives of the policy would not be fully realized.