IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 11 NO. 1 2025
DOI: 10.56201/jafm.vol.11.no1.2025.pg211.218

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Impact of 2022 CBN Naira Redesign Policy on Performance of Food Retailers in Nigeria

Abah-Marcus, Olaladiza Princess PhD & Ekubo Maudlinepac Buna PhD

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Abstract

The study examined the impact of 2022 CBN naira redesign policy on food retailers in Nigeria. The study adopted ex-post-facto research design. The study made use of secondary sources of data obtained from Central Bank of Nigeria Statistical Bulletin from second quarter of 2022 to first quarter of 2023. The study compared the performance of food retailers in Nigeria before and after implementation of CBN naira redesign policy using secondary data collected from Central Bank of Nigeria Statistical Bulletin in Nigeria. Two (2) categories of food retailing were purposively selected, which are the farm food item retailers and non-farm food item retailers. Descriptive statistics was used to analyze the data and a paired sample t-test was used to test the hypotheses at 0.05 level of significance through Statistical Package for Social Science, version 26. The findings revealed that there is a significant difference between accessibility to credits of the manufacturing and Small Medium Enterprises (SMEs) sector before and after the implementation of treasury single account in Nigeria. Also, the study, revealed that there is a significant difference between price indices of farm and non-farm food items before and after the implementation of 2022 CBN naira redesign policy in Nigeria. It was recommended that the Government should set up an agency that will assess the working capital requirement of food retailers in Nigeria and make such funds available to them so as to facilitate their operations.

keywords:

CBN, Naira Redesign Policy, Food Retailers, Price Indices

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