USE OF DIGITAL CURRENCY AND FINANCIAL TRANSACTIONS IN NIGERIA.

https://doi.org/10.5281/zenodo.14499755

Authors

  • Ezekwere Uzochukwu Department of Accounting, Kingsley Ozumba Mbadiwe University, Ideato, Imo State
  • Ezejiofor, Raymond A. Department of Accountancy, Nnamdi Azikiwe University, Awka.

Keywords:

Digital currency, financial transactions, Promote transparency and Accessibility

Abstract

The study ascertained the effect of digital currency on financial transactions in Nigeria. The specific objective was to determine the extent to which the use of digital currencies (eNaira, Bitcoin and Ethereum) promote transparency in financial transactions and accessibility in financial transactions in Nigeria. The study employed survey research design. The population of the study was made up of 772 professionally affiliated accountants in Anambra State. Taro-Yamane (1967) formula was used to calculate a sample size of 89 respondents. The instrument for data collection was a structured questionnaire. Both descriptive and inferential analytical procedures were undertaken. Pearson correlation analysis was utilized in the test of the hypotheses. The findings revealed that: the use of digital currencies significantly promotes transparency in financial transactions in Nigeria; the use of digital currencies significantly influences accessibility in financial transactions in Nigeria. The study thus, recommended among others that Regulatory bodies should implement and enforce robust frameworks for digital currencies to maintain high standards of transparency. By ensuring that digital currency transactions are conducted on secure, transparent platforms, regulators can mitigate risks of fraud and enhance the integrity of the financial system.

Published

2024-12-16

How to Cite

Uzochukwu , E., & Raymond A., E. (2024). USE OF DIGITAL CURRENCY AND FINANCIAL TRANSACTIONS IN NIGERIA. Journal of Interdisciplinary Research in Accounting and Finance (JIRAF), 11(4), 69–86. https://doi.org/10.5281/zenodo.14499755

Issue

Vol. 11 No. 4 (2024): October-December

Section

Original Peer Reviewed Articles
Copyright & Licensing

Copyright (c) 2024 Journal of Interdisciplinary Research in Accounting and Finance (JIRAF)

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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