Abstract:

The study examined the effects of electronic banking instruments on monetary policy efficiency in Nigeria. The quasi-experimental design was employed. The study employed secondary data in its analysis. Data used for the study were sourced from the Central Bank of Nigeria annual statistical bulletin 2013 and National Bureau of Statistics bulletin 2013. The study employed the Unit root and Granger Causality Test. The E-view 7.1 statistical software was employed for the study. The results showed that there was a unidirectional causality among the variables ATM & MPE, MOB & MPE as well as ISV & MPE. This reveals that the variables are necessary condition for achieving monetary policy efficiency.Hence, the alternative hypothesis that MPE granger causes ATM is accepted. Also, the alternative hypothesis that MPE grangers cause MOB is accepted and the alternative hypothesis that MPE granger causes ISV is accepted Bases on the above findings, the study recommends on the need to create more awareness to entice the unbanked public into the banking system.