Vol. 3, Issue 1 (2016)
Actualization of a cashless construction industry in Nigeria: Perceptions of stakeholders in Anambra State
Author(s): Ezeokoli Fidelis Okechukwu, Ugochukwu Stanley Chukwudi, Okolie Kevin Chuks
Abstract: This study examined the view of construction stakeholders on cashless society and how to make the construction sector cashless in Nigeria. The Survey research approach was adopted for the study, via the distribution of questionnaires to construction stakeholders in Anambra State, Nigeria. Four towns, namely: Onitsha, Nnewi, Awka and Ekwulobia were purposefully selected, since they represent the construction hub of the study area. From these towns, 200 construction stakeholders each were randomly selected from each town and a total of 800 questionnaires were administered. 540 copies of the questionnaires were completed, returned and found useful, thus, giving a response rate of 67.5%. Findings indicated that most of the construction practitioners are in support of the cashless society. Because, they believe it will improve traceability and accountability, reduce the rate of corruption/theft/sharp practices, reform construction practice and improve productivity of the sector by eliminating idle time. However, inadequate Point of Sale (POS) machines, lack of knowledge of ICT, frequent power outages, cyber theft, indiscriminate deductions from banks, unreliability of internet services and fear of the unknown are the major reasons militating against cashless society in the construction sector. The research therefore recommends that: ICT content of construction education should be improved, construction stakeholders should be properly sensitized on cashless society and the need to have bank accounts, internet services should be improved and subsidized, adequate POS and other technology infrastructure should be provided and cyber theft curbed.