IMPACT OF THE NIGERIA’S CASHLESS POLICY ON COMMERCIALISATION OF SELECT BROADCAST MEDIA

ABSTRACT

The study examined Impact of the Nigeria’s Cashless Policy on Commercialisation of Select Broadcast Media in Benin City.” The study sought to determine the impact of the cashless policy on broadcast media; assess the impact of the cashless system on commercialization patronage; explore ways through which broadcasters are coping; determine the perception of broadcasters towards the policy and identify their challenges with the cashless system. The study, employed Technological Determinism, Political Economy and Diffusion of Innovation theories as theoretical frameworks. In like manner, the study adopted mixed research method: survey and interview, with questionnaire and interview guide as research instruments. The data obtained from the questionnaire were analysed using frequency tables and simple percentages, while data gathered from interview were analysed based on explanation-building model. The findings revealed that the impact of the cashless system on broadcast commercialisation patronage was largely negative because of its direct consequence on their dwindling patronage. The study also showed that the operation of cashless system in the broadcast stations is challenged by network failure, poor internet facilities and clients’ resistance. Based on these findings, the researcher, among other things, recommended that broadcasters should engage with the network providers to ensure adequate network coverage to address the incessant network problem which often results in transaction failure. It also recommended that banks should upscale their infrastructure to ensure seamless inter-bank transfers and meet the emerging demands of the cashless system. The study also placed a demand on the government to weigh into the excess charges by banks and other online payment platforms to ensure reduction in charges with a view to encouraging popular adoption of the system.