INFLUENCE OF MONEY SCARCITY ON MENTAL HEALTH. AMONG MIDDLE-AGED ADULTS IN AKWA IBOM STATE, NIGERIA

Scarcity of money is characterised by the lack of access to physical cash dueto the enforcement of a cashless policy, has emerged as a significant socialissue in Nigeria. This qualitative research aimed to examine the influence ofmoney scarcity on the mental health of middle-aged adults in Akwa IbomState. The study utilized the Basic Psychological Need Theory (BPNT) andemployed a qualitative research design, gathering primary data fromparticipants through a structured In-depth Interview Guide. The studycomprised middle-aged adults aged 36 to 60, with respondents selectedusing a purposive sampling technique. The data collected were analysedthrough thematic analysis. The results indicated a positive associationbetween money scarcity and the mental health of middle-aged adults inAkwa-Ibom State, Nigeria. Additionally, it was found that mental healthissues such as anxiety and frustration among middle-aged adults have beenexacerbated by money scarcity. The findings suggest that provision should bemade on other means to store money, other than banks. And male and femaleadults should be trained to manage and store their resources through thosecreated avenues, not limited to banks.