Title: Mediating effect of emotionality on the intention to use the Nigerian central bank digital currency (e-Naira)

Authors: Mahfooz Ahmed; Abulfathi Ibrahim Saleh Al-Hussaini; Adamu Abubakar Ibrahim; Raihanat Ahmad Abubakar

Addresses: Electrical and Electronic Engineering Department, College of Engineering, Gulf University, Sanad 26489, Kingdom of Bahrain ' Galaxy Backbone Limited, FCT Abuja, Nigeria ' Kulliyyah of Information and Communication Technology, International Islamic University, Gombak, IIUM, Selangor, 53100, Malaysia ' Learning Resource Centre, Canadian University Dubai, UAE

Abstract: This study investigates the mediating effect of emotionality with other related technology acceptance factors influencing Nigerian retailers' decisions to adopt or reject the central bank digital currency (CBDC). Guided by the technology acceptance model (TAM), the research examines the technology adoption factors that could influence the intentions to adopt e-Naira among Nigerian retailers. A survey was conducted among retailers in Abuja, Nigeria's capital, resulting in 326 valid responses. The findings reveal that perceived ease of use, usefulness, and trustworthiness positively influence retailers' intentions to adopt e-Naira, while financial concerns have a negligible direct effect. Notably, emotionality significantly mediates the relationship between trustworthiness and financial concerns with adoption intentions, highlighting the importance of emotional factors in technology acceptance, especially when related to financial activities. These insights are valuable for policymakers, central banks, and stakeholders in promoting e-Naira adoption. By addressing the identified factors and leveraging emotional influences, stakeholders can enhance the adoption of digital currencies. This study contributes to the growing literature on CBDCs and provides actionable insights into the challenges and opportunities of integrating e-Naira into Nigeria's retail sector.

Keywords: central bank digital currency; CBDC; e-Naira; emotionality; technology acceptance model; TAM; Nigeria.

DOI: 10.1504/IJBSR.2025.145488

International Journal of Business and Systems Research, 2025 Vol.19 No.2, pp.95 - 110

Received: 18 Jun 2024
Accepted: 08 Dec 2024
Published online: 01 Apr 2025 *

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