DETERMINANTS OF HOUSEHOLD-HEAD USAGE OF AUTOMATED TELLER MACHINE (ATM) IN A TRANSITION ECONOMY: EXAMPLE FROM NIGERIA

AJAYI, Michael Adebayo (Ph.D.)

Abstract


Studies of ATM usage by household-head in developing countries are often a difficult
effort considering the complexity of variants affecting household spending. This paper
investigates the use of ATM in Nigeria. Sixty-six social-economic variables were selected in the
study. The factor analysis method reduces the Sixty-six variables to nine orthogonal factors. The
result of the stepwise regression method identified four factors: Household Acceptability Index
(HAI = 65.2 %); Household Time Spent in Withdrawing Money (HTSWM =14.5%); Household
Source of Income Index (HSY = 13.3%) and Household Perception on ATM Machine
Performance (HPAMP= 4%). All of this together contributes 97% explanation to household
ATM usage in the study area. These four factors are relevant to sustainable cashlite economy
being implemented in phases by the federal government of Nigeria.


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