ICT and Nigerian Banks Reforms: Analysis of Anticipated Impacts in Selected Banks
Global Journal of Business Research, Vol. 2, No. 2, pp. 67-76, 2008
Posted: 19 Feb 2010
Date Written: 2008
Banking has become highly Information Communication technology (ICT) based and due to its intersectoral link, is reaping the benefits of technological revolution as evidenced by its application in most of its operations. This study empirical analyzes the anticipated role ICT has in enhancing the operations of selected Nigerian banks in the light of current reforms. Primary data was employed, which was analyzed using cross-tabulations and regression technique built on the framework of technical progress. Factors such as bankers’ age, educational qualification, computer literacy and type of ICT gadgets, were found to influence banks’ degree of ICT usage, while ICT impacts significantly the speed of banking operations, productivity and profitability. The need for banks to regularly train their workers, and procure quality ICT gadgets, which will enhance efficiency, etc, was stressed. This is crucial in the sector’s current reforms where attention is focused on the ability of banks to attract and retain customers, which is primarily accomplished through efficient service delivery.
JEL Classification: G21, G28 M41
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