RETAILERS’ CULTURE AND ATTITUDINAL DISPOSITION OF GRASSROOT TRADERS TOWARDS ADOPTION OF E-NAIRA IN MUSHIN MUNICIPAL, LAGOS STATE

Abstract

The adoption of digital financial technologies across the world has changed the narrative with respect to how business transactions are made. This made the Central Bank of Nigeria to initiate e-Naira and this represents a landmark step toward financial inclusion and digital payment adoption in Nigeria. This study therefore examined retailers' culture and attitudinal barriers towards the use of e-Naira among selected retailers in Mushin Municipal, Lagos. The study adopted a cross sectional survey research design.  Data was collected through a structured questionnaire administered to 77 retailers drawn from selected small and medium enterprises in the Mushin area of Lagos State. Hypotheses were tested using regression analysis via the Statistical Package for the Social Sciences (SPSS). The findings revealed that the e-Naira platform has a significant effect on the day-to-day business operations of retailers. The study further asserted that that retailers remain strongly accustomed to the use of physical cash in conducting business transactions, and that the literacy level of retailers significantly influences their use of eNaira in carrying out business transactions. The study concluded that cultural attachment to cash and low digital literacy constituted the most critical barriers to e-Naira adoption among informal-sector retailers. It thus recommended that the Central Bank of Nigeria and relevant stakeholders develop targeted financial literacy programmes and simplified digital onboarding mechanisms to facilitate broader e-Naira adoption among this demographic