CHALLENGES OF ELECTRONIC PAYMENT IN SELECTED STATE UNIVERSITIES IN SOUTH EAST NIGERIA, 2015-2022.

Abstract

Paucity of funds has been identified as one of the major challenges facing state-owned universities in the face of declining government allocations in south east Nigeria. In the quest to combat this challenge, respective institutions have in recent times, embraced internally generated revenue to fund their activities. Disappointingly, this method of revenue collection has been marred by corruption, inefficiency, and lack of accountability, with avoidable leakages arising from manual processes, cash-based transactions, and fraudulent practices such as receipt forgery. The objective of the study is to assess the electronic payment (e-payment) systems and the internal revenue generation of selected universities in Southeast Nigeria. This study adopted survey design. The research was conducted among a population of 83,113 university staff with diverse educational qualifications and students. Aims to assess the effectiveness of e-payment systems in enhancing revenue collection, improving accountability, and overcoming challenges faced in the implementation process. Data for this study were elicited from both primary and secondary sources. This study was anchored on the Expediency Theory of Taxation, propounded by Buehler in 1936, as a framework for analysis. Findings revealed that E-payment systems significantly facilitate the timeliness and efficiency of financial transactions in universities. It also revealed that poor network and electricity problems significantly affect the use of e-payment systems for internal revenue generation in universities. The study concluded that E-payment systems have positively impacted the accountability and transparency of IGR in state-owned universities in south east Nigeria. Based on the findings, this study recommends that state-owned universities in south east Nigeria should conduct regular training programs for staff, students, and other users to improve their technical skills and confidence in using e-payment systems.