Conference Paper

DIGITAL FINANCE AND EMPLOYMENT RATE IN NIGERIA FINANCAL INDUSTRY

Abstract This study investigated the relationship between digital finance and employment rate in Nigeria covers the period of 14years between 2010 and 2023. Data on remita, point of sales transaction, web pay and mobile pay and employment rate were gathered from CBN Statistical Bulletin, 2023 edition. Ordinary Least Square method was used to analyze the data with the aid of E-view. The study revealed that there is significant relationship between remita and employment rate in Nigeria. Also, evidence of no statistical significant impact was found between point of sales and employment rate in Nigeria. In addition, analysis from this study revealed there is no significant influence of web pay on employment rate in Nigeria. Lastly, this study realized that mobile pay has significant effect on employment rate in Nigeria under the period of study while it was found that gross domestic product growth rate has no significant impact on the remittances in Nigeria. The study therefore concluded that digital finance have significant impact on employment rate in Nigeria. The study therefore recommends that Government agencies should actively promote the development of digital finance and focus on the role of digital finance in improving the consumption level of low and middle-income families and underdeveloped areas. Also, the website infrastructure and security should be further improved to enhanced web based digital finance transactions. Keywords: Remita, Point of Sales Transaction, Web Pay, Mobile Pay, Employment Rate.