BACKGROUND OF THE STUDY
Corona viruses are members of the Coronaviridae family of viruses that infect both animals and humans. MERS (Middle East Respiratory Syndrome) and SARS (Extreme Acute Respiratory Syndrome) are examples of human corona viruses that can produce mild sickness similar to a common cold or more serious illness (Severe Acute Respiratory Syndrome). In December 2019, a novel corona-virus was found in Wuhan, China, that had never been seen in humans previously. Fever, cough, and shortness of breath are signs and symptoms of respiratory problems. Infection can cause pneumonia, severe acute respiratory syndrome, and, in the worst-case scenario, death. When coughing or sneezing, use a flexed elbow or a disposable towel to screen the nose and mouth, and avoid physical contact with someone who is sick. WHO is collaborating with international scientists, governments, and allies to raise scientific understanding about this new virus and provide timely advice on how to safeguard people’s health and prevent the disease from spreading. The government developed a “Corona-virus readiness team” through the country’s major public health organization, NCDC, prior to the entry of COVID-19 into Nigeria ( Nigeria Centre for Disease Control). Nigeria is one of the top thirteen countries with a high likelihood of importing COVID-19, based on either a direct or indirect connections to China, or a large quantity of traffic to and from China.
STATEMENT OF THE PROBLEM
In a store, a point-of-sale terminal (POS) is a piece of hardware that allows you to accept credit cards. Software for reading magnetic strips from credit and debit cards is included in the device. Proprietary and third-party portable machines (as opposed to terminals attached to a counter) are part of the next wave of POS solutions, as are contactless capabilities for new sorts of mobile payments. In April, the total volume of payment transactions over Nigerian payment networks fell by a stunning 26% when compared to the previous month. The Nigerian government halted all economic activity in March. The results included cheque, ATM, POS, E-bills, and NIP (interbank transfers) transactions. As businesses resume normal operations, the number of purchases handled via point-of-sale (PoS) terminals and mobile devices has begun to increase after falling precipitously in April owing to the COVID-19 lockout. Due to the lock-down, the number of PoS transactions plummeted by more than 20% in April, from 52.2 million at the end of March to 40.85 million in April. The trend is reversing, according to a survey issued by the Nigeria Interbank Settlement System, with POS recording roughly 48.37 million transactions in May. (NIBSS).
OBJECTIVE OF THE STUDY
To see if there were any POS funds accessible during the corona virus lock-down.
To find out if POS vendors were available during the Corona virus lock-down.
I. During the lock-down, was there enough POS cash on hand?
II. Were POS merchants accessible during the Corona virus lock-down?
SIGNIFICANCE OF THE STUDY
The importance of this study effort is that it focuses on the availability of POS during the lock-down, and it will be useful to other academics, intellectuals, and students who wish to conduct similar research.
SCOPE OF THE STUDY
This study was carried out in Enugu, Enugu State, and focused on the availability of POS during the lock-down.
LIMITATION OF STUDY
Finance was a difficult subject to study during my time there. The researcher also faced substantial hurdles while doing the investigation, including a lack of material and time constraints.
DEFINITION OF TERMS
CORONA-VIRUS: Corona-viruses are a broad family of viruses that can cause illnesses ranging from the common cold to more serious conditions like Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS).
A point-of-sale terminal (POS) is a piece of hardware that enables you to accept credit cards at a retail establishment. Software for reading magnetic strips from credit and debit cards is included in the device.
LOCK-DOWN: A lock-down is a state of isolation or restricted access imposed as a defensive or security measure.
A FUND is a grouping of money set aside for a specific purpose.