Examining the Influence of Cashless Policy on Residential Property Development in Khana Local Government Area, Rivers State, Nigeria
Paulinus Woka Ihuah *
Department of Estate Management, Faculty of Environmental Sciences, Rivers State University, Port Harcourt, Rivers State, Nigeria.
Noble Asa-ue
Department of Estate Management, Faculty of Environmental Sciences, Rivers State University, Port Harcourt, Rivers State, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
Cashless policy has been tremendous envisage to offers significant benefits and essential elements that enable the avoidance and reduction of fraudulent practices in the banking industry, as well as facilitate easy business transactions. However, the influence it has on residential property development is yet to be uncovered. Therefore, the study examined the influence of cashless policy on residential property development in Khana Local Government Area of Rivers State, Nigeria. The study adopted the survey research design on a quantitative approach, respondent was administered questionnaire to the data generated from questionnaire were analysed using mean and simple percentage. Findings of the study revealed and confirmed that cashless policy has significantly impacted on the development of residential property in the area such impact include; enhancement of residential property in the area, speed up activities in the real estate sectors and increased real estate business transaction. Furthermore, cashless policy operationalization should be effectively carried out in the area through the provision of measures deemed necessary. The study recommends that the government and the central bank of Nigeria strength all regulation and operationalization of cashless policy to enhance the achievement of the desire aim of the policy and to develop sustainable residential property in the area.
Keywords: Cashless, cashless policy, residential property, property development