CAN THE CENTRAL BANK DIGITAL CURRENCY (E-NAIRA) FACILITATE FINANCIAL INCLUSION IN MAIDUGURI METROPOLIS OF BORNO STATE?
Authors
Ibrahim Mohammed Lawal
University of Maiduguri, Borno State
Author
Maryam Musa Adamu
University of Maiduguri, Borno State
Author
Abdulhakeem O. Omojashola
First Bank Nigeria Limited, Maiduguri, Borno State
Author
Keywords:
Financial Inclusion,
Central Bank Digital Currency,
Technological Acceptance Model,
Maiduguri Metropolis,
eNaira
Abstract
The study seeks to assess whether or not Central Bank Digital Currency (eNaira) will facilitate Financial Inclusion within Maiduguri Metropolis of Borno State. Descriptive survey research design was employed and primary data were obtained through structured questionnaires. The population of the study was bankers within the metropolis, and the sample size was 68 respondents. The study was hinged on the Technological Acceptance Model and Diffusion Theory of Innovation. The data were analyzed using logistic regression. The study revealed that Central Bank Digital Currency product/service usage and service quality positively facilitated financial inclusion, while access negatively spurred financial inclusion. Public enlightenment, financial illiteracy, cyber-attack and end-user acceptance were identified as key challenges.
