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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Caroline Omolere Olomukoro, Mabel Ovigue Oyitso, Iyobosa Humphrey Omoregie
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DOI:10.17265/2161-6248/2023.02.007
University of Benin, Benin City, Nigeria
The Nigerian Financial Literacy Framework (NFLF) and the Central Bank of Nigeria’s Cashless Policies are two significant initiatives aimed at promoting financial inclusion and enhancing the financial literacy of Nigerians. Unfortunately, the Nigerian government has appeared notorious for policy reversals. What has remained prominent in the Nigerian situation is the case of setting the cart before the horse. This paper examines the NFLF established to promote financial inclusion by extending financial services to the underserved, unserved, and the “unbanked” Nigerian populace. The implementation of the NFLF had not had a significant impact when the CBN abruptly began the implementation of its cashless policy and this situation created an impasse with Nigerians experiencing untold hardship as the cashless policy brought about unexpected cash crunch on citizens who were obviously ill-prepared and were severely impacted most especially those in the rural areas. Adult education has been found to enhance immediate socio-economic and socio-cultural impacts in society. The paper explored three critical adult education programmes for a smooth in-road for the implementation of a sensitive policy such as the cashless policy in a country like ours that is still battling with a very disturbing illiteracy rate.
adult education, financial literacy, cashless policy
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