Nigeria is moving towards a cashless economy in january 2012, the central bank of nigeria cbn introduced the cashless policy, which has three primary objectives. If youre looking to manage your banking simply and securely via your browser, why not try ubs ebanking. Get free research paper on economic impact of electronic banking on the banking sectordiamondproject topics and materials in nigeria. Journal of internet banking and commerce, april 2016, vol. Nigerias slow adoption of electronic banking practice is rapidly changing for the better. Thus, the banks domestic or foreign are investing more on providing the customers with the new technologies through e banking. An overview of the ebanking and epayments landscape in. A survey was conducted in september 2002 to determine the level and types of e banking activities carried out by banks. Problems and techniques, data resources, sample selection, and the profile of a typical observation, estimates for the inputoutput model from a sample of commercial banks, estimates for the inputoutput model from a sample of mutual savings banks, on.
In this contemporary life, information technology it has become a significant medium in economic and social development. This research is on economic implication of electronic banking in nigeria banks and also the various forms of payment and electronic systems used by banks. E banking, it also observed, holds enormous potentials for the banking industry in nigeria. Electronic banking has reduced dependence on certain locations before performing certain banking transactions. During the introduction of electronic banking system, the use of raw cash was said to have bred corruption through the cash and carry syndrome usually linked with the swift movement of ghanamust go bags by some politicians. Electronic banking as an aid to commercial bank operations in nigeria a case study of first bank of nigeria, largest undergraduate projects repository, research works and materials. Get free research paper on the role of electronic banking e banking in the development of financial institutions in nigeria. Its features include electronic funds transfer for retail purchases, automatic teller machines atms, and automatic payroll deposits and bill payments. Ebanking archives the guardian nigeria news nigeria. Functions and roles of central bank and commercial bank and their relationship. Abstract until a decade or so ago, the banking industry in nigeria had many kind of bank related problems. In particular, online banking ebanking is one of the it applications with the highest impact on the global economy in creating a new business environment in the sector. Its features include electronic funds transfer for retail purchases, automatic teller machines atms, and.
This is approved for students in accountancy business computer science economics engineering arts. Atms are the most popular electronic delivery channel for ebanking services. The guardian newspaper 2001, challenges of internet banking, how nigeria can benefit from the system. Models of bank portfolio behavior, estimation of the models.
Guidelines on e banking in nigeria due to increasing response of banks to e banking in nigeria coupled with the supervisory role of central bank of nigeria led to the setting up of technical committee on e banking in 2003 and also the formulation of guideline on e banking based on the report submitted by the committee in 2003. Jaiz bank plc7 was established as the first fully fledged such bank in nigeria chose its punch line our interest is mutual, carving out dual meaning. Nwezeaku department of financial management technology, federal university of technology, owerrii, nigeria. Download undergraduate projects topics and materials accounting, economics, education. Our electronic channels help your company manage its payment transactions as well.
The future of nigeria egovernment worldcomp proceedings. Whether it is for stock market transactions, payments or to check your account balances, julius baers ebanking provides all the important information you need. E banking reform and national development in nigeria. The importance, effect, causes, relationship, comparison, history, role, solutions are discussed.
However, having an understanding of the risks associated with ebanking services and evaluating the resulting risk management costs against the potential return on investment prior to offering ebanking services. Ebanking is an aspect of banking that nobody can resist. The impact of ebanking on customer satisfaction in nigeria. It easily comes to mind that the introduction of ebanking by the central bank of nigeria cbn has seen a drastic reduction in.
People now stay comfortably in their homes and perform a banking transaction using electronic devices without increasing road traffic. The cashless policy has been introduced in nigeria, however, there are still excess of cash in the economy despite the cutting edge measures put in place by the. Banks must take additional steps to ensure that while the web ensures global access to data enabling real time connectivity to the banks backend systems, adequate measures must be in place to identify and authenticate authorized users when limiting access to data as defined by the access control list. The researcher also explained the services and the features of electronic banking in nigeria. Challenges of microfinance banking in nigeria1 nigerians, like many other africans are generally known as their brothers keepers in view of the extended family system. Risk management principles for electronic banking bis. Banks are required to ensure that unnecessary services and ports. This paper examined and assessed the impact of ebanking services on customer satisfaction in the nigerian banking industry. Elements of banking download book online free computer. The rise of electronic devices has also made electronic banking in nigeria, a rising trend.
This website uses cookies to make sure you get the best experience on our website. Background of the studyalthough a lot of research works has been done on the prospects and challenges of information technology in the banking industry, theses research works are broad based and only few are actually carried on electronic banking e. Data transfer of payment files and downloading of besr files. Overview of electronic banking in nigeria international journal of.
The main objective of the study is to examine the effect of e banking on profitability of commercial banks in nigeria using guaranty trust bank gtbank plc as a study. The research geared toward explaining what electronic. One specific objective is to examine to which extent e banking influences roa. The researcher general towards explaining what electronic banking is all about and when it was introduce into nigeria. This research work is an attempt to analyse and find out the problems and prospects of electronic banking in nigeria.
It is of prime importance for banks to develop ebanking systems, which are easy to use, secure, and private for their users 1. An overview of the ebanking and epayments landscape in nigeria. The impact of online banking on the performance of. Journal of internet banking and commerce covenant university. Pdf electronic banking and cashless policy in nigeria. The research geared toward explaining what electronic banking is all about and when it was introduce into nigeria. Ebanking and commercial bank performance in nigeria. Background of the studyalthough a lot of research works has been done on the prospects and challenges of information technology in the banking industry, theses research works are broad based and only few are actually carried on electronic banking e banking. The basel committee on banking supervision expects such risks to be. The primary aim of this project tilted role of electronic banking in the development of banking industries in nigeria which is being taking with all seriousness as it presents a mechanism of extending banking services of wilder segment of the people at a lower cost. Three hypotheses were formulated, three research questions. This is approved for students in accountancy, business, computer science, economics, engineering, arts. We will not only give you one reasons but we will do our best and give you up to 5 good reasons.
There have been investments in computer hardware, software and telecommunication equipment, the corollary of which has been the introduction of electronic bank e banking in the nigeria banking industry. A cointegration and causality approach amu christian ugwueze, nathaniel. Guidelines on ebanking in nigeria due to increasing response of banks to ebanking in nigeria coupled with the supervisory role of central bank of nigeria led to the setting up of technical committee on ebanking in 2003 and also the formulation of guideline on ebanking based on the report submitted by the committee in 2003. The second meaning is our interest means charge for using money is mutual. In the past few years, banking activities in nigeria have increasingly depended on the development of information and communication technology ict. Banking sector nowadays cannot move forward rapidly without the use of it.
It discovered that the increased application of e banking worldwide is a function of improvement in information and communications technology ict. Today, i will be showing you the ultimate reasons, why you should use ebanking in nigeria. Apr 27, 2018 history of e banking in nigeria by media nigeria on april 27, 2018 no comment. Easily share your publications and get them in front of issuus. The survey showed that 17 banks were offering internet banking, 24 were offering basic telephone banking, 7 had atm services, while of the banks indicated that they were offering other forms of ebanking.
The findings provide a basis for financial managers to understand the reasons for nonadoption on this innovative services. The first meaning is interest is mutual means bank and client have common concern. An appraisal of the implication of electronic banking in nigeria banks a case study of access bank, largest undergraduate projects repository, research works and materials. However, the rapid development of ebanking capabilities carries risks as well as benefits. The committee of ebanking industry heads cebih and the nigeria interbank settlement system nibss and have disclosed plans to sustain the 120 percent growth recorded in. The survey showed that 17 banks were offering internet banking, 24 were offering basic telephone banking, 7 had atm services, while of the banks indicated that they were offering other forms of e banking.
However, because transactions are initiated via cards and codes atm card and pin, the internet, and phones, the possibility of selling a customer another service that they need, promoting a banks good image, and enhancing customer loyalty is hindered. You can find more information under the privacy statement. This study is an overview of ebanking in the nigerian banking industry. The committee of e banking industry heads cebih and the nigeria interbank settlement system nibss and have disclosed plans to sustain the 120 percent growth recorded in electronic payment. But when truly analyzed, there is a possibility that this may not be so. Electronic banking, use of computers and telecommunications to enable banking transactions to be done by telephone or computer rather than through human interaction. This paper examined and assessed the impact of e banking services on customer satisfaction in the nigerian banking industry. However, having an understanding of the risks associated with e banking services and evaluating the resulting risk management costs against the potential return on investment prior to offering e banking services. Problems and prospects abstract this research work is an attempt to analyse and find out the problem and prospects of eletronic banking in nigeria. It is of prime importance for banks to develop e banking systems, which are easy to use, secure, and private for their users 1. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. A survey was conducted in september 2002 to determine the level and types of ebanking activities carried out by banks. Nigeria adopted electronic banking system in the early 2000s. The role of ebanking on operational efficiency of banks.
A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Feb 05, 2015 issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online. Different authors and economists have given some structural and functional definitions on bank from different angles. The researcher will base this work on the entire deposit money banks in nigeria but to diamond bank in particular. Issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online. Perhaps a hypothetical deep may reveal that not up to 10% of nigerians would invest in ventures or people that. Electronic banking offers ease of operation for both customers and the financial institution. Consequently, nigerian banks investments in information technology it equipment have grown rapidly in the last ten years. An overview of the e banking and e payments landscape in nigeria.