ELECTRONIC BANKING: CHALLENGES OF NIGERIA’S BUSINESS ENVIRONMENT

ELECTRONIC BANKING: CHALLENGES OF NIGERIA’S BUSINESS ENVIRONMENT (A CASE STUDY OF FIRST BANK OF NIGERIA)

 

ABSTRACT

This research work is on electronic banking and the challenges of Nigeria’s business environment using First Bank of Nigeria Plc as a case study. The major objective of the study was to examine the relationship that exist between the adoption of electronic banking services and profitability of First Bank of Nigeria Plc in terms of investment in information and Communication Technology Equipment and Profit After Tax. The study made use of both primary and secondary sources of data collection. Quota sampling technique was used to select data necessary for this research work. Pearson’s Product Moment Correlation Coefficient was employed in testing the hypothesis. The study revealed that electronic banking, despite its challenges, has led to increased efficiency in banking and its services and reduction of waiting time experienced in the banks. The findings also revealed that e-banking are inhibited by some factors which include cost of  purchasing e-banking equipments, poor power supply and inadequacy in the security of transactions conducted through e-banking. The study recommends among others that, government should improve on electric power supply and development of ICT infrastructure to enhance effective e-banking services delivery in Nigeria.

 

TABLE OF CONTENTS

Cover page      –      –      –      –      –      –              i

Title Page –      –      –      –      –      –      –      –      ii

Certification     –      –      –      –      –      –      –      iii

Dedication               –      –      –      –      –      –      iv

Acknowledgements  –      –      –      –      –      –      v-vii

Abstract   –      –      –      –      –      –      –      –      viii

Table of Contents     –      –      –      –      –      –      ix-xii

List of Tables    –      –      –      –      –      –      –      xiii

CHAPTER ONE

INTRODUCTION

• Background of the study –      –      –      –      –      1-6

1.2   statement of the problem.       –      –      –      –      7-8

1.3   Objectives of the study    –      –      –      –      –      8-9

1.4   Research questions  –      –      –      –      –      –      9-10

1.5   Statement of hypothesis  –      –      –      –      –      10-11

1.6   Significance of the study  –      –      –      –      –      11

1.7   Scope and limitations of the study   –      –      –      12

1.8   Organization of the study –      –      –      –      –      12-13

1.9   Definition of terms   –      –      –      –      –      –      14-15

Endnotes

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1   Meaning and concept of electronic banking      –      17-19

2.2   The development of e-banking in Nigeria –      –      19-21

2.3     Effects of e-banking       –      –      –      –      –      21-26

2.4   Risks management practices associated

with e-banking operations       –      –      –      –      27-31

2.5  Regulatory tool for mitigating the risk challenges

posed by e-banking in Nigerian business environment    31-34

2.6 Challenges posed by e-banking in Nigeria

business environment      –      –      –      –      –      34-37

2.7   Challenges militating against the effectiveness of

electronic banking operations in Nigeria         –      3-38

2.8 The impact of electronic banking services on banking operations in Nigeria’s business environment   –      38-41

2.9    Threat of cyber crime on the Nigerian banking

premises        –      –      –      –      –      –      –      41-44

Endnotes

CHAPTER THREE

RESEARCH METHODOLOGY

3.1   Introduction     –      –      –      –      –      –      –      48

3.2   Design of the study  –      –      –      –      –      –      50

3.3   Area of the study     –      –      –      –      –      –      50

3.4   Population of the study    –      –      –      –      –      50

3.5   Sample and sampling technique      –      –      –      51

3.6   Instrument/method for data collection     –      –      51

3.7   Data analysis technique   –      –      –      –      –      52-53

 

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1   Introduction     –      –      –      –      –      –      –      54

4.2   Data Presentation    –      –      –      –      –      –      54-55

4.3   Data Analysis   –      –      –      –      –      –      –      55-60

4.4   Interpretation of results   –      –      –      –      –      59-60

4.4-1 Analysis of Research Questions      –      –      –      60-64

CHAPTER FIVE

FINDING, CONCLUSION, RECOMMENDATION

5.1   Introduction     –      –      –      –      –      –      –      65

5.2   Findings   –      –      –      –      –      –      –      –      65-66

5.3   Conclusion       –      –      –      –      –      –      –      66-67

5.4   Recommendations   –      –      –      –      –      –      67-68

References

Appendix

LIST OF TABLES                                                                               

Table 4.1        Investment in information and

communication technology equipment and

profit after tax in (2007 -2016) value (Nm) –        55

Table 4.2:       Relationship between Investments in

Computer Equipment and Profit After Tax of

First Bank of Nigeria Plc.          –      –      –        57

Table 4.3:       Analysis of Research Question One (1)    –        60

Table 4.4:       Analysis of research Question Two (2)     –        61

Table 4.5:       Analysis of Research Question Three (3) –        62

Table 4.6:       Analysis of research Question Four (4)    –        63

Table 4.7: Analysis of Research question Five (5)   –      –        64

 

CHAPTER ONE

BACKGROUND OF THE STUDY

INTRODUCTION

The introduction of universal banking practice in Nigeria and the adoption of electronic banking by deposit money banks have offered increased services to customers with attendant increase in customers risk exposure. This changing environment of bank management in Nigeria has impacted much on the number of services and risk which Nigeria faced.

Electronic banking is the conduct of banking business electronically which involve the use of information communication technology to drive banking business for immediate and future goals. Alhajri (2008), describes e-banking as the provision of banking services to customers through internet technology. According to Raja and Senttil (2008),  on electronic banking and the economy, electronic banking is defined to include the provision of retail and small value banking products and services through electronic channels as well as a large value electronic payment and other wholesale banking services delivered electrically, though Alsmadi and Alwabel (2011) express that the definition of electronic banking varies among researchers, partially because electronic banking refers to several types of services through which bank customers can request information and carryout banking services. Generally, the automation of banks makes trans

 

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ELECTRONIC BANKING: CHALLENGES OF NIGERIA’S BUSINESS ENVIRONMENT (A CASE STUDY OF FIRST BANK OF NIGERIA)