Pos Business and Fraud: How Are They Shaping Employment in Nigeria?

Abstract

 This paper will explore how employment in Nigeria will be affected by POS Business, POS Fraud and inflation between 2013 and 2024. It examines the impact of the growth of POS terminals and services on job creation and also evaluates the impacts of the possible adverse impacts of POS fraud and macroeconomic volatility. A secondary data was used in the study as the ex-post facto research design based on the Central Bank of Nigeria (CBN) Statistical Bulletin, Financial Institutions Training Centre (FITC), and World Bank Development Indicators. The relationships between the variables were analyzed using descriptive statistics, correlation analysis and Ordinary Least Squares (OLS) regression. The findings indicate that employment is greatly positively influenced by POS Business and the number of POS terminals increases employment especially among young people and smallscale entrepreneurs. The POS Fraud and inflation have negative coefficients but not statistically significant meaning that they have weak or indirect effects on employment and could be compensated by a rapid POS growth. Recommendations are made to the important stakeholders based on these findings. The government must use incentives and policies to aid in the growth of POS and financial inclusion. CBN ought to enhance infrastructural facilities, fraud control as well as macroeconomic stability. Banks are supposed to train POS operators and to check the transactions and the POS operators, they ought to practice safe methods so that they do not commit fraud and they can remain in employment. All in all, it can be seen that the primary cause of the employment growth in Nigeria is POS Business, and the POS Fraud and inflation cause the effect, albeit secondarily and indirectly. The results support the policy actions to boost the employment by way of digital financial innovations.