IMPACT OF ELECTRONIC BANKING AND ITS ROLE IN THE DEVELOPMENT OF THE NIGERIA BANKING SYSTEM. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE 

This study reviewed the concept of electronic banking (e­-banking), examined its prospects for Nigerian banks and discussed associated risks. The study also went further to state the guidelines for e-banking as provided by the Central Bank of Nigeria, it made known its legal and regulatory measures and lastly discussed about electronic payment in Nigeria. It’s discovered that the increased application of e-banking worldwide is a function of improvement in information and communication technology (ICT). E-banking, it also observed, holds enormous potentials for the banking industry in Nigeria. To achieve these potentials, the paper advocated endangering confidence in the e-banking mechanism by addressing security concern and providing necessary infrastructure like steady electric power supply.

Despite the fact that these problem of inadequate security and inadequate power supply persist, the adoption of e-banking has improved customer services, facilitated accurate records, provides for home and office banking services, ensure convenient business hour, prompt and fair attention, and enhances faster services, From the perspective of banks, ICT improves the banks image and leads to a wider, faster and more efficient market.

The questionnaire method was used in gathering the primary data, the respondents here were bank customers while secondary data was sourced from; the internet, journals and library. The hypotheses were tested using Chi-square. Based on the study conducted, findings were made of which recommendations and conclusions were also given.

Nigeria’s first bank, the African banking corporation was established in 1892. Banking legislation did not exist then, until 1952 when conventional banking system started with the industry witnessing a lot of regulatory and institutional advances. The industry was being controlled by at most five out of the 89 banks in existence. Before the commencement of the ongoing banking industry reformation in the country multiple branch system was one of the notable futures of Nigerian banks, with a total of 8% of  banks accounting  for about 3017 bank branches nationwide as  at 2004 (Ezeoha, 2005). The industry  was   also faced with heavy challenges, including  the over bearing impact of fraud  and corruption, erosion in public confidence a poor capital bases, persistent cases of  distress and failure, poor asset quality and  so on .part of the moves to resolve these  ongoing problem include  the banking reform initiated by the central bank of Nigeria in June, 2006, which is largely targeted  at reducing the number of banks in the country and making the emerging banks much stronger and reliable (Ezeoha, 2005).

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