August 2023
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The researchers examined media managers' perceptions of the impacts of Central Bank of Nigeria's cashless policy on commercialisation of select broadcast stations in Benin City. The study sought to find out the perceptions of media managers on Central Bank of Nigeria's cashless policy; assess the media managers' perceptions of the impacts of CBN's cashless policy on select broadcast stations in Benin City; examine the challenges hindering the smooth operation of CBN's cashless policy among select broadcast stations in Benin City; and find out the ways in which broadcast media stations are coping with the adverse effects of the CBN's cashless policy. The researchers premised the study on the Technological Acceptance Model. Interview was the research instrument, and managers from Independent Television/Radio, Edo Broadcasting Service and Nigerian Television Authority, Benin City were interviewed. The data obtained from interview were analysed using the explanation-building model. The Findings revealed that the impacts of the Central Bank of Nigeria's cashless policy on broadcast commercialisation were largely negative because of its direct adverse effects on commercials. The study also revealed that the operation of cashless system in the select broadcast stations is challenged by network failure, poor internet facilities, illiteracy and clients' resistance. Based on these findings, the researchers, among other things, recommended that banks upgrade their infrastructure to ensure seamless inter-bank transfers and meet the emerging demands of the cashless system. The study also placed a demand on the government to weigh in on the excess charges by banks and other online payment platforms to ensure a reduction in charges with a view to encouraging popular adoption of the system.