Evaluating the Communication Strategies of the Central Bank of Nigeria

This book evaluates the communication strategies used by the Central Bank of Nigeria (CBN) to promote its cashless policy from 2020 to 2023. Aiming to reduce cash reliance and enhance electronic payment systems, the study employs mixed-methods research, utilizing questionnaires for quantitative data and Key Informant Interviews (KIIs) for qualitative insights. The analysis is grounded in the Diffusion of Innovation Theory and the Technological Acceptance Model, which help understand adoption processes and stakeholder engagement. Findings indicate that traditional media, particularly television and radio, were effective in disseminating information about the cashless policy. Most respondents reported being well-informed about the policy's objectives and procedures. Recommendations include developing more inclusive communication strategies tailored to specific demographics, enhancing digital engagement, simplifying language, and establishing feedback mechanisms to improve public understanding and participation.