This study examined the impact of cashless policy on business transactions in Nigeria with particular emphasis on the role of electronic payment systems in enhancing transaction efficiency and business performance. The study was motivated by the growing adoption of cashless policy initiatives in Nigeria and the need to determine their effectiveness in improving business transactions. Specifically, the study investigated the relationship between cashless policy, electronic payment systems, and business transactions in the Nigerian business environment. The study adopted a quantitative research design using structured questionnaires to collect data from respondents involved in business and financial transactions. Data collected were analyzed using descriptive and inferential statistical techniques to determine the effect of cashless policy and electronic payment systems on business transactions. Findings from the study revealed that cashless policy on its own does not significantly influence business transactions in Nigeria. However, electronic payment systems were found to have a significant positive effect on business transactions by improving transaction speed, convenience, accessibility, and efficiency. The study further established that the effectiveness of cashless policy largely depends on the availability, reliability, and adoption of digital payment infrastructure. The study concluded that while cashless policy provides a regulatory framework for reducing cash-based transactions, the success of the policy is driven mainly by effective electronic payment systems. Based on the findings, the study recommended that government and financial institutions should strengthen digital payment infrastructure, promote public awareness and adoption of electronic payment systems, and ensure the security and stability of digital financial platforms to improve business transaction efficiency in Nigeria.
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