BANK CUSTOMER ADAPTATION IN THE CASHLESS POLICY ERA IN NIGERIA

ABSTRACT

This research project examines the adaptation of bank customers to the cashless policy in Benin City, Nigeria. The study reveals that various forms of adaptation have been adopted, including increased use of electronic payment methods. However, there are variations in adaptation among different demographic groups. Key factors influencing adaptation include awareness, perceived benefits, convenience, security, and trust in electronic payment systems. Despite challenges like technological barriers and transaction fees, there are positive prospects for bank customer adaptation, including increased efficiency and economic growth. Recommendations include enhanced awareness campaigns, customized training programs, fee reduction, infrastructure development, security measures, ongoing monitoring, partnerships, financial inclusion initiatives, and continuous research. This research contributes to understanding how bank customers in Benin City have adapted to the cashless policy and provides insights for policymakers and financial institutions to enhance adoption and customer satisfaction.