WAEC NOV/DEC 2013

The West African Examinations Council (WAEC) has released what its official called ‘a discouraging’ result for the November/December 2013 West African Senior School Certificate Examination. The WAEC Head of the National Office, Mr Charles Eguridu said that there was worrisome decline in candidates’ performance in the examination when compared with students’ performance in 2011 and 2012. “This year, 2013, we have a total of 86,612 candidates representing 29.17 per cent obtaining credits in five subjects and above, including English Language and Mathematics. “In 2012, a total of 150,615 candidates representing 37.97 per cent obtained credits in five subjects and above, including English Language and Mathematics. Students of a public school in Lagos: 2013 WASCE results discouraging “In 2011, a total of 139, 827 candidates representing 36. 07 per cent also obtained credits in five subjects and above including English Language and Mathematics,” he said.Eguridu said that of the 308,217 candidates that registered and sat for the 2013 examination, 299,784 had their results fully released while 38,260 other had theirs withheld in connection with examination malpractice. Giving further breakdown of the results, Eguridu said that 120,115 candidates obtained six credits and above, while 161,721 others recorded five credits and above. He said that 198,832 candidates who sat for the examination obtained credits and above in four subjects, while 230,325 others obtained credits and above in three subjects. The HNO also said that a total of 256,500 other candidates recorded credits and above in two subjects. Eguridu said that 82 blind candidates registered and sat for the examination, adding that, of the figure, 17 candidates obtained credits in five subjects including English Language. According to him, blind candidates do not take Mathematics and Science practical in the WASSCE. Eguridu attributed the poor performance of candidates during major examinations to wrong values, lack of role models, poor incentives for teachers as well as lack of qualified teachers, among other challenges. He said that the council was set to partner with any state government in providing strategies to teaching and learning processes. He said that this would will help in effective curriculum delivery He announced that the council will deploy cutting edge technology in the conduct of its examinations as from May, 2014, beginning with the May/June, 2014 WASSCE. Eguridu said the council would use Radio Frequency Identification Smart Cards. He said that the cards would be for easy and accurate identification. Eguridu said that there would also be automated attendance registers, instant and accurate identification, instant malpractice reporting and effective post examination management. “In view of the council’s zero tolerance for malpractice and increased use of mobile handsets during examination, the council has made it mandatory for all schools to provide serviceable metal detectors. “This will be used to prevent candidates from smuggling mobile handsets into examination halls,” he said. According to Eguridu, the council will continue in its quest to improve on service delivery through the deployment of information communication technology. He said that the council had fully migrated from paper-based registration to electronic registration of candidates for its examinations. Eguridu noted that in the November/December, 2013 WASSCE, the council deployed biometric technology in the registration of candidates, while data capturing was the basis of identifying candidates and taking attendance. He said that reports from the field indicated a drastic reduction in impersonation of candidates. He said that the reported cases were being investigated and the reports of the investigation would be presented to the Nigerian Examinations Committee of the council in due course, for consideration. According to the HNO, a total of 8,433 other candidates have a few of their subjects still being processed due to some errors mainly traceable to them and cyber cafes in the course of registration or writing the examination. “Such errors are being corrected by the council to enable the affected candidates to get their results soon,” he said.

The champion in you.

WISE QUOTES TO ENCOURAGE YOU IN UNLEASHING THE CHAMPION IN YOU I hated every minute of training, but I said, 'Don't quit. Suffer now and live the rest of your life as a champion.' Muhammad Ali I am a member of a team, and I rely on the team, I defer to it and sacrifice for it, because the team, not the individual, is the ultimate champion. Mia Hamm The vision of a champion is bent over, drenched in sweat, at the point of exhaustion, when nobody else is looking. Mia Hamm Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday. Wilma Rudolph

Statistical report on candidates performance on WAEC examination. English language

According to theresultsreleased by the examination body, 70 per cent of the candidates that sat for the 2013 exam had credits in at least five subjects, a great improvement over the 25.99 per cent of candidates that had credits inEnglishand Mathematics in2009.This is despite the increased strict examination conditions that had been imbibed byWAECin recent times to curb examination malpractices. Each year as the examinations were conducted came with gradual decline that became worrisome, even as the students that sat for the examination coined terms for describing examination malpractice. SpecialWAECexamination centres nicknamed “miracle centres” where examination malpractice was “officially” allowed at the payment of certain whopping amounts of money blossomed. But the resultsof the 2013 WASSCEresultswhich showed that 70 per cent of the students passed with five credits amid the stringent measure taken by the examiners is a radical departure from deplorable performances posted by the examination council in the past. The result showed that a total of 1,689,188 candidates, consisting of 920,416 male and 750,852 female candidates sat for the examination. A total number of 1,543683 candidates, representing 91.38 per cent have their result fully released, whileresultsof 112,865 candidates, representing 6.75 per cent, are being withheld in connection with various cases of examination malpractice. Available statistics revealed that, “Total number of 1,543683 candidates representing 91.38 per cent have theirresultsfully released, whileresultsof 112,865 candidates, representing 6.75 per cent, are being withheld in connection with various cases of examination malpractice”. While not necessarily sealing the fate of those in this category, the body said, “The cases are being investigated and reports of the investigations will be presented to the Nigeria examinations Committee (NEC) and the committee’s decision will be communicated”. “A total of 2,176 cases of multiple entries also were discovered during the processing of theresultsof all candidates who are guilty of this act would be cancelled”. Previous devastating imprint showed that the West African Examinations Council in the last four years recorded worse outing, especially in2009West African Senior School Certificate Examination (WASSCE) where a total of 1, 373, 009 candidates consisting of 755, 955 males and 617, 054 females sat for the examination and out of it, 25.99 per cent obtained credit in bothEnglishLanguageand Mathematics and three other subjects. In 2010, the total number of candidates who sat for the examination was 1,351, 557 consisting of 739,664 males and 611, 893 females sat for the examination. Out of this, 1,278, 843 candidates representing 94.62 per cent had their result fully processed. Further analysis showed that 677,007 candidates, 50.09 per cent, made five credits and above, while 534,841 candidates, 39.57 per cent have six credits and above. Of the total number of candidates that sat for the examination, it was said that 337,071 candidates, representing 24.94 per cent, obtained credits inEnglishLanguage, Mathematics and at least three other subjects. A total of 451,187 candidates, 33.38 per cent, obtained credits and above inEnglishLanguage, while 560,974 candidates, 41.50 per cent, obtained credits and above in Mathematics. In 2012 there was a slight improvement asresultsof the WASSCE result showed that candidates performed better. A total of 649,156 candidates representing 38.81 per cent of the total number of candidates that sat for the examination obtained credits in five subjects and above, includingEnglishLanguageand Mathematics. This represents an 8.9 per cent increase above the previous year’s performance, where 471,474 candidates representing 30.91 per cent, had five credits and above in five subjects, includingEnglishand Mathematics.

Statistical report on candidates performance on WAEC examination. English language

According to theresultsreleased by the examination body, 70 per cent of the candidates that sat for the 2013 exam had credits in at least five subjects, a great improvement over the 25.99 per cent of candidates that had credits inEnglishand Mathematics in2009.This is despite the increased strict examination conditions that had been imbibed byWAECin recent times to curb examination malpractices. Each year as the examinations were conducted came with gradual decline that became worrisome, even as the students that sat for the examination coined terms for describing examination malpractice. SpecialWAECexamination centres nicknamed “miracle centres” where examination malpractice was “officially” allowed at the payment of certain whopping amounts of money blossomed. But the resultsof the 2013 WASSCEresultswhich showed that 70 per cent of the students passed with five credits amid the stringent measure taken by the examiners is a radical departure from deplorable performances posted by the examination council in the past. The result showed that a total of 1,689,188 candidates, consisting of 920,416 male and 750,852 female candidates sat for the examination. A total number of 1,543683 candidates, representing 91.38 per cent have their result fully released, whileresultsof 112,865 candidates, representing 6.75 per cent, are being withheld in connection with various cases of examination malpractice. Available statistics revealed that, “Total number of 1,543683 candidates representing 91.38 per cent have theirresultsfully released, whileresultsof 112,865 candidates, representing 6.75 per cent, are being withheld in connection with various cases of examination malpractice”. While not necessarily sealing the fate of those in this category, the body said, “The cases are being investigated and reports of the investigations will be presented to the Nigeria examinations Committee (NEC) and the committee’s decision will be communicated”. “A total of 2,176 cases of multiple entries also were discovered during the processing of theresultsof all candidates who are guilty of this act would be cancelled”. Previous devastating imprint showed that the West African Examinations Council in the last four years recorded worse outing, especially in2009West African Senior School Certificate Examination (WASSCE) where a total of 1, 373, 009 candidates consisting of 755, 955 males and 617, 054 females sat for the examination and out of it, 25.99 per cent obtained credit in bothEnglishLanguageand Mathematics and three other subjects. In 2010, the total number of candidates who sat for the examination was 1,351, 557 consisting of 739,664 males and 611, 893 females sat for the examination. Out of this, 1,278, 843 candidates representing 94.62 per cent had their result fully processed. Further analysis showed that 677,007 candidates, 50.09 per cent, made five credits and above, while 534,841 candidates, 39.57 per cent have six credits and above. Of the total number of candidates that sat for the examination, it was said that 337,071 candidates, representing 24.94 per cent, obtained credits inEnglishLanguage, Mathematics and at least three other subjects. A total of 451,187 candidates, 33.38 per cent, obtained credits and above inEnglishLanguage, while 560,974 candidates, 41.50 per cent, obtained credits and above in Mathematics. In 2012 there was a slight improvement asresultsof the WASSCE result showed that candidates performed better. A total of 649,156 candidates representing 38.81 per cent of the total number of candidates that sat for the examination obtained credits in five subjects and above, includingEnglishLanguageand Mathematics. This represents an 8.9 per cent increase above the previous year’s performance, where 471,474 candidates representing 30.91 per cent, had five credits and above in five subjects, includingEnglishand Mathematics.

UPDATE ON 2013/2014 POST UTME ADMISSION EXERCISE Screening of candidates, who made University of Ibadan their first and/or second choice institution and are duly registered for the Post-UTME screening exercise will hold onSaturday 28 September, 2013 at 11.00 am .Prospective candidates are advised to log in to the Post-UTME portal using their existing usernames and passwords to check their details from Thursday 26 September 2013. Eligible candidates will be able to printtheir letters of invitation which will indicate the candidate’s screening number, venue, and course of choice amongst other information. Candidates are advised to dress decently to the venues of the screening and present the following: 1.Invitation letter for the screening 2.UTME Notification of results 3.Evidence of Payment for post-UTME screening 4.2 Recent passport sized photographs. Olujimi Iretola Olukoya Registrar

www.ui.edu.ng

Neco 2013 result is out

NATIONAL EXAMINATION COUNCIL (NECO) RESULT IS OUT 65 percent credit pass recorded in 2013 National Examinations Council (NECO) result After three years of consecutive mass failure at Senior School Certificate Examination (SSCE) National Examinations Council (NECO) on Thursday announced that 69.57 per cent candidates had five credits and above in the June/July 2013. Announcing this year’s school based examination in Minna, the Registrar and the Chief Executive of the Council, Professor Promise Okpala said that 681,507 candidates representing 66.63 per cent made credit pass and above in English Language while 668,314 candidates or 65.50 percent recorded same in Mathematics. In Biology 66.88 percent had credit and above, 66.68 per cent of the candidates that wrote Physics and 66.41 percent Chemistry candidates equally made credit pass and above. The NECO boss also said that out of 1,034,263 candidates that sat for the examination which had 128 blind candidates, 998,624 candidates or 96.55 per cent made five passes and above. The elated NECO registrar also said that low percentage of candidates were involved in examination malpractice. Giving a comparative analysis of students’ performance in the last three years, Okpala said the council witnessed “rises in performance from 15.84 per cent in 2011 through 51.66 per cent last year to this year’s 69.57 per cent”. Attributing the improved performance on federal and states governments resolve as well as all other stakeholders to improve the quality of teaching and learning in the country, Okpala said the improved performances over the years were”empirical indications that the efforts of the President, Ministry of Education are yielding positive results.

Neco 2013 result is out

NATIONAL EXAMINATION COUNCIL (NECO) RESULT IS OUT 65 percent credit pass recorded in 2013 National Examinations Council (NECO) result After three years of consecutive mass failure at Senior School Certificate Examination (SSCE) National Examinations Council (NECO) on Thursday announced that 69.57 per cent candidates had five credits and above in the June/July 2013. Announcing this year’s school based examination in Minna, the Registrar and the Chief Executive of the Council, Professor Promise Okpala said that 681,507 candidates representing 66.63 per cent made credit pass and above in English Language while 668,314 candidates or 65.50 percent recorded same in Mathematics. In Biology 66.88 percent had credit and above, 66.68 per cent of the candidates that wrote Physics and 66.41 percent Chemistry candidates equally made credit pass and above. The NECO boss also said that out of 1,034,263 candidates that sat for the examination which had 128 blind candidates, 998,624 candidates or 96.55 per cent made five passes and above. The elated NECO registrar also said that low percentage of candidates were involved in examination malpractice. Giving a comparative analysis of students’ performance in the last three years, Okpala said the council witnessed “rises in performance from 15.84 per cent in 2011 through 51.66 per cent last year to this year’s 69.57 per cent”. Attributing the improved performance on federal and states governments resolve as well as all other stakeholders to improve the quality of teaching and learning in the country, Okpala said the improved performances over the years were”empirical indications that the efforts of the President, Ministry of Education are yielding positive results.

Neco 2013 result is out

NATIONAL EXAMINATION COUNCIL (NECO) RESULT IS OUT 65 percent credit pass recorded in 2013 National Examinations Council (NECO) result After three years of consecutive mass failure at Senior School Certificate Examination (SSCE) National Examinations Council (NECO) on Thursday announced that 69.57 per cent candidates had five credits and above in the June/July 2013. Announcing this year’s school based examination in Minna, the Registrar and the Chief Executive of the Council, Professor Promise Okpala said that 681,507 candidates representing 66.63 per cent made credit pass and above in English Language while 668,314 candidates or 65.50 percent recorded same in Mathematics. In Biology 66.88 percent had credit and above, 66.68 per cent of the candidates that wrote Physics and 66.41 percent Chemistry candidates equally made credit pass and above. The NECO boss also said that out of 1,034,263 candidates that sat for the examination which had 128 blind candidates, 998,624 candidates or 96.55 per cent made five passes and above. The elated NECO registrar also said that low percentage of candidates were involved in examination malpractice. Giving a comparative analysis of students’ performance in the last three years, Okpala said the council witnessed “rises in performance from 15.84 per cent in 2011 through 51.66 per cent last year to this year’s 69.57 per cent”. Attributing the improved performance on federal and states governments resolve as well as all other stakeholders to improve the quality of teaching and learning in the country, Okpala said the improved performances over the years were”empirical indications that the efforts of the President, Ministry of Education are yielding positive results.

Neco 2013 result is out

NATIONAL EXAMINATION COUNCIL (NECO) RESULT IS OUT 65 percent credit pass recorded in 2013 National Examinations Council (NECO) result After three years of consecutive mass failure at Senior School Certificate Examination (SSCE) National Examinations Council (NECO) on Thursday announced that 69.57 per cent candidates had five credits and above in the June/July 2013. Announcing this year’s school based examination in Minna, the Registrar and the Chief Executive of the Council, Professor Promise Okpala said that 681,507 candidates representing 66.63 per cent made credit pass and above in English Language while 668,314 candidates or 65.50 percent recorded same in Mathematics. In Biology 66.88 percent had credit and above, 66.68 per cent of the candidates that wrote Physics and 66.41 percent Chemistry candidates equally made credit pass and above. The NECO boss also said that out of 1,034,263 candidates that sat for the examination which had 128 blind candidates, 998,624 candidates or 96.55 per cent made five passes and above. The elated NECO registrar also said that low percentage of candidates were involved in examination malpractice. Giving a comparative analysis of students’ performance in the last three years, Okpala said the council witnessed “rises in performance from 15.84 per cent in 2011 through 51.66 per cent last year to this year’s 69.57 per cent”. Attributing the improved performance on federal and states governments resolve as well as all other stakeholders to improve the quality of teaching and learning in the country, Okpala said the improved performances over the years were”empirical indications that the efforts of the President, Ministry of Education are yielding positive results.

2013 Ekiti State Scholarship And Bursary (Undergraduate, Postgraduate and Special)

2013 Ekiti State Scholarship And Bursary (Undergraduate, Postgraduate and Special)

The Ekiti State government has instituted various Scholarship and Bursary Awards for Ekiti State Students in the Federal, State and Private Universities

Free Application forms for undergraduate, Masters Degree, PHD and Physically Challenged are now available to prospective applicant at Ekiti State Scholarship Board, New Secretariat, Ado-Ekiti. Those who prefer to apply online should CLICK HERE ; 2013 Scholarships and Bursary category.

Completed application forms MUST be sent to: scholarshipboard@ekitistate.gov.ng not later than 1st October, 2013.

ELIGIBILITY

SCHOLARSHIP AWARD:

• Applicant must be in 2nd year/HND and above in their courses of study to be qualified for the undergraduate Scholarship Awards and must possess WAEC/NECO with a minimum of 5 Credits including English Language and mathematics at a sitting and a minimum CGPA of 4.0 for University or the equivalent of second class upper division, 3.8 for Polytechnics and 3.0 for NCE in their current institutions of study.
• Applicants for Masters Degree and PHD Scholarship Awards must possess a minimum CGPA of 2nd Class Upper at Undergraduate level. A strong letter of recommendation from the University of Masters Degree Programme is additional prerequisite for PHD Scholarship Award;
• Physically Challenged Students in Tertiary Institutions (NCE, ND, HND and Degree Studies) are qualified for Handicapped Scholarship Award;
• Students on Part-Time Studies are not qualified for the Scholarship Awards

BURSARY AWARDS: All Undergraduates, Polytechnics, NCE, School of Nursing and Colleges of Health Technology students are eligible.

DATE OF SUBMISSION: All prospective applicants are to submit their forms (s) on or before WEDNESDAY, 2nd OF OCTOBER, 2013.

Signed

E. O. OWOLABI

ADMINISTRATIVE SECRETARY

EKITI STATE SCHOLARSHIP BOARD

UNILAG CHANGE OF COURSE 2013/2014

The University of Lagos (UNILAG) released the available courses for candidates who wants to change their choice of course. Detaails as regards this are shown below.

NOTICE ON SUPPLEMENTARY ADMISSION FOR2013/2014 ACADEMIC SESSION
A few vacancies exist for supplementary admission considerations in the following Faculties/degree programs:
FACULTY OF EDUCATION
1.EDUCATION BIOLOGY
2.EDUCATION CHEMISTRY
3.EDUCATION HOME ECONOMICS
4.HUMAN KINETICS & HEALTH EDUCATION
5.EDUCATION INTEGRATED SCIENCE
6.EDUCATION MATHEMATICS
7.EDUCATION PHYSICS
8.EDUCATION TECHNOLOGY
9.EDUCATION FRENCH
10.EDUCATION IGBO
11.EDUCATION ISLAMIC RELIGIOUS STUDIES
12.EDUCATION YORUBA
13.EDUCATION PHYSICS
FACULTY OF ENVIRONMENTAL SCIENCES
1.BUILDING
2.QUANTITY SURVEYING
FACULTY OF ARTS
1.EUROPEAN LANGUAGES: (i.) FRENCH(ii.) RUSSIAN
2.LINGUISTICS AFRICAN & ASIAN STUDIES:(i) IGBO(ii.) YORUBA
FACULTY OF SCIENCE
1.BOTANY
2.CELL BIOLOGY & GENETICS
3.CHEMISTRY
4.FISHERIES
5.MARINE SCIENCES (MARINE BIOLOGY)
6.MATHEMATICS
7.PHYSICS
8.ZOOLOGY
PROCEDURE FOR APPLYING:
Interested candidates who have the registration requirements and scored 40% and above in the University’s post-UTME exercise to earn aggregate scores of 50% and above are eligible to apply.Such eligible candidates should follow the procedure described below:
1.Pay the sum of N1000 Naira for ‘Change of Course’ at any branch of ECOBank, First Bank, WEMA Bank, UBA, GTB, Access Bank, Union Bank and Zenith Bankto collect a login PIN
2.Proceed to the University website: www.unilag.edu.ng
3.On the homepage, click on ‘2013/2014 change of course’
4.Enter Jamb Registration Number & Pin.
5. Update the online form by selecting the appropriate proposed course and the O’level results.
6. Preview the completed form before submitting and printing.ONCE SUBMISSION IS MADE, EDITING WILL NOT BE ALLOWED.
7.SUBMISSION CLOSES AT 12 MIDNIGHT ON SATURDAY, AUGUST 31, 2013.
For further information and clarification, please contact:
The Admissions Office, 1st floor, Senate House, University of Lagos, Akoka
e-Mail: admissions@unilag.edu.ng
Telephone: 08182715706, 08182715899, 08182714951,08182716045, 08182715896, 07043278267, 07045515017, 07043278269, 0704339831, 07043349832 and 08182716045.
Dr. (Mrs.) Taiwo Folasade Ipaye,MNIM
Registrar and Secretary to Council.
@ mayors' education consult information is our priority while transformation is your responsibility.

Welcome to University of Lagos

www.unilag.edu.ng

Founded in 1962, the University of Lagos has, for over 5 decades, provided qualitative and research-oriented education to Nigerians and all those who have entered its domain in search of knowledge. The University has built a legacy of excellence and has been instrumental in the production of top ran...

ADVERTISEMENT FOR ADMISSION INTO UNDERGRADUATE PROGRAMMES FOR 2013/2014

LAGOS STATE UNIVERSITY BADAGRY EXPRESSWAY, OJO

Website: www.lasu.edu.ng, Email: vc@lasu.edu.ng

ADVERTISEMENT FOR ADMISSION INTO UNDERGRADUATE

PROGRAMMES FOR 2013/2014 ACADEMIC SESSION

Following the release of November 2012 Accreditation of Academic Programmes at the Lagos

State University by the National Universities Commission (NUC), the Joint Admissions and

Matriculation Board (JAMB) has equally approved admission for the 2013/2014 Academic

Session, into the programmes listed below. In view of this, Lagos State University (LASU) here

by invites applications from interested candidates for admission into the following Programmes for 2013/2014 Academic Session:

FACULTY OF MANAGEMENT SCIENCES

•B. Sc. Banking and Finance

•B. Sc. Business Administration

•B. Sc. Marketing

•B. Sc. Management Technology

FACULTY OF SOCIAL SCIENCES

•B. Sc. Economics

•B. Sc. Political Science

•B. Sc. Sociology

FACULTY OF EDUCATION

•B. Sc. (Ed) Accounting

•B. Sc. (Ed) Business

•B. Sc. (Ed) Computer Science

•B. Sc. (Ed) Educational Technology

•B. Sc. (Ed) Educational Management

•B. Sc. (Ed) Health Education

FACULTY OF LAW

•L.L.B. Law

FACULTY OF ENGINEERING

•B. Sc. Chemical and Polymer Engineering

FACULTY OF ARTS

•B. A. Portuguese/English

ENTRY REQUIREMENTS

A) Candidates must have the basic O’ level requirements including Credit in English

Language and Mathematics

B) Applicants must have scored 200 and above in the Unified Tertiary Matriculation

Examination (UTME).

MODE OF APPLICATION 

Interested candidates are to obtain JAMB Scratch Card for Change of Course to apply for any of the above listed courses through JAMB Website. The change should be effected immediately after the UTME in April, 2013.

SIGNED

L. O. ANIMASHAUN, Esq.

REGISTRAR AND SECRETARY TO GOVERNING COUNCIL

LAGOS STATE UNIVERSITY, OJO. 

AGBAJELOLA MICHAEL MAYOWA

C.E.O. mayors' education consult

APPRAISAL OF THE ECONOMIC IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF DIAMOND BANK)

APPRAISAL OF THE ECONOMIC IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS

(A CASE STUDY OF DIAMOND BANK)

  

CHAPTER ONE

1.1       BACKGROUND OF THE STUDY

                        Before the emergence of modern banking system, banking operation was manually done which lead to a slow down in settlement of transactions. This manual system involves posting transactions from one ledger to another which human handles. Figures or counting of money which should be done through computers or electronic machine were computed and counted manually which were not 100% accurate thereby resulting to human errors. Most bank then use only one computer in carrying out transactions which ameliorate the sluggish nature of banking transaction.

                        Nigeria do not embrace electronic banking early compared to developed countries. Nigeria adopted electronic banking system in the early 2000s.  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 Ghana-must go” bags by some politicians. Such bags as some analyst say, are a major source of corrupt practices as dubious persons seeks to bribe their way to avoid been checked in some sensitive areas or places in a corrupt society.

                        Since electronic banking started in all Nigeria banks, it has been a woe for civil servants; checks show that some staff in establishments such as the national boundary commission for instance, are yet to receive their salaries for the previous months as efforts to electrically transfer salaries into their account have failed according to Ibrahim, D. (2009).

                        “One bank will tell you it has transferred your salaries but the supposed recipient bank will tell you it has not received anything leaving you even more confused”, says John, I. (2009). Olekah, J. (2009) while acknowledging the initial hiccups that dogged the system, advises stakeholders against being discouraged as such “teething problems” are normal.

                        James, A. (2009) a banker reported to vanguard annual report that “we should not destroy electronic-banking by looking at the negative aspects, we must strive towards perfecting it”. James, A. (2009) also says that the volume of data generated by the Government ministry Agencies is much making it a bit difficult for banks to cope, Mathew S. (2009) a worker says in his report to vanguard annual report on banks and cards that government should have done its home work “very well” before introducing the system, “they plugged us into a system they were not prepared for and the result is untold hardship visited on innocent people”.

            At this juncture, is good to know what e-banking is all about.

                        According to Anyawaokoro, M. (1999). Electronic banking is defined as the application of computer technology to banking especially the payment (deposit transfer) aspects of banking. He also defined electronic banking as a system of banking with an electronic communication network which permits on-line processing of the same day credit and debit transfers of funds between member institutions of a clearing system.

                        According to Clive, W. (2007) in his Academic dictionary of banking, electronic banking is defined as a form of banking in which funds are transferred through an exchange of electronic signals between financial institutions, rather than an exchange of cash, cheques or other negotiable instruments.

                        According to Omotayo, G. (2007) defines electronic banking as a system in which funds are moved between different accounts using computerized on line/real time systems without the use of written cheques.

                        According to Edit, O. (2008) in international Journal of investment and finance, electronic banking is defined as a system by which transactions are settled electronically with the use of electronic gadgets such as ATMs, POS terminals, GSM phones, and V-cards e.t.c. handled by e-holders, bank customers, and stake holders. 

1.2       STATEMENT OF PROBLEMS

                        As earlier pointed out, there is delay in payment of cheques which lead to the adoption of electronic banking system. Adoption of electronic banking which suppose to ease banking transactions rather resulted to woes to customer. Most people complain of time wasted in banks. This occurs when there is power failure in banks resulting to slow down in operation.

                        Another problem that emerged was that banks do not have information backup to fall back on should there be any computer break down.

                        In investing in electronic banking, the country will need a large amount of financial resources in computer technology, obviously, the resource is in short supply in Nigeria, couple with high level of poverty. For an efficient functioning of electronic payment system, there must be availability of infrastructural facilities such as electricity and telecommunication network, however, power supply fluctuates and there is still constant failure links in networks.

                        Since early 2000s banks have been developing and introducing payment cards for their customers as well as deploy ATM’s cards. Usage was however low due to lack of interconnectivity i.e. switching platform to interconnect the ATM’s for card holders.

1.3       OBJECTIVES OF THE STUDY 

                        This research work intends to assess the extent of electronic payment in banking activities as well as identify the various types of electronic banking.

            The researcher will also evaluate the major problems associated with the development of electronic banking system in Nigeria as well as evaluate possible solutions to these problems.

                        The effect of electronic banking on profitability of banks will also be assessed. There are different types of electronic banking used in Nigeria banks; the researcher will like to evaluate the impact of these e-payment systems on banking industry and also assess the impact of electronic banking in Nigeria economy.

1.4       RESEARCH QUESTION

                        In order to get information from respondents the following questions where formulated:

                        What are the various types of electronic payment and the extent of electronic payment in banking activities?

                        In what extent can e-banking improve or enhance banking services?

                        What are the major problems associated with the development of electronic banking system in Nigerian?

                        What are the solutions to the problems associated with the development of e-banking?

            What extent has e-payment affected banking activities?

            The research shall attempt to find answers to these questions in the next chapter.

1.5       SIGNIFICANCE OF THE STUDY

Electronic banking in our economy today is a welcome development and also its impacts in the society are over-whelming, so this research is significant in so many ways.

                        It will expose the strength and weakness of electronic banking.

It will motivate banks and other economic agents to computerize their services.

                        Knowledge in the area of electronic banking will be advanced.

Apart from contributing to the knowledge of electronic banking, it forms a reference for future research in this area.

1.6       SCOPE OF STUDY

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. The researcher will base this work on the entire deposit money banks in Nigeria but to Diamond Bank in particular.

1.7       LIMITATION OF STUDY

Time is a major factor to the researcher as research of this kind requires enough time in gathering of data, but it was not given to carryout the research, distribution, collection and analysis of questionnaire.

Also the school system has made it difficult for student to go out in search for information by not granting exeat for student. Some banks hud information from students who desires such information in other to maintain the banks secrecy thereby making it difficult for students to gather information for their research.

Finally, finance was infact the most limited factor, in spite of this the researcher have to travel out to the sampled organization to interview some of the managers and supervisors.

CHAPTER TWO

LITERATURE REVIEW

2.1       INTRODUCTION

Electronic banking have long been recognized to play an important role in economic development on the basis of their ability to create liquidity in the economy through financial intermediation between savers and borrowers. It also offers financial services and products that accelerate settlement of transactions and in the process reduce cash intensity in the financial system, encourage banking culture, and catalyses economic growth.

However, for the effective functioning of the financial system, the payment systems must be safe and efficient; otherwise they can be a channel for the transmission of disturbances from one part of the economy or financial system to others. This is why central bank have been active in promoting sound and efficient payments system and in seeking the means to reduce risks associated with the system.

Nigeria historically operated a cash-driven economy particularly in the consumer sector, however the system has witnessed improvements over the years, and particular in recent times has moved from its rudimentary level of the early years of banking business to the current state of sophistication comparable to other economies at the same level of development.

     One important reason for financial liberalization and deregulation is the need to develop a good payment system which promotes an appropriate mechanism for efficiency in mobilizing and allocating financial resources in the economy. The payment system occupies an important place in the development of a country economy, infact the level of development of a countries payment system is a reflection of the state or condition of the countries economy.

      Nigeria payment system is paper-based and this accounts for the high level of cash in the economy (cash outside bank), the concept “payment system” has different meanings among writers the definition range from a more simple to a more complex definition.

      According to Report on the survey of developments in the e-payments and services products of banks and other financial institutions in Nigeria payment system is defined as a system which consists of net works which link members, the switches for routing message and rules and procedures for the use of its infrastructure.

     According to Anyanwaokoro M. (1999), in theory and policy of money and banking, payment system is defined as a system where settlement of financial obligations are done by the use of credit cards or even pressing some bottoms that transfer the amount in their bank to the account of another person through the computer.

According to element of banking by Orjih, J. (1999), payment system is defined as a which consists of different methods of payments which are cheques, credit cards, Bankers drafts, standing order, documentary credits swift etc for the settlement of transactions.

2.2       ELECTRONIC BANKING

It is a fact that today a good number of banks cannot use their IT (information technology) infrastructure to adequately deal with their immediate information requirements. Do such banks qualify to be called e-banks?

E-banking is about using the infrastructure of the digital age to create opportunities both local and global. E-banking enables the dramatic covering of transaction cost and the creation of new types of banking opportunities that address the barriers of time and distance. Banking opportunities are local global and immediate in E-banking

The benefit of electronic banking comprises a broad range of functions which includes;

Electronic mail (email) improves communication between individuals, external  parties and between banks. The availability of online information provides bankers and customers with a powerful vehicle for research, banks can provide information and services on line,  which customer can pay for and receive. Banking processes are made more efficient and cost effective by integrating other aspects of banking operations such as treasure management and financial control.

If banking functions does not require physical interaction it may drive the benefits of electronic banking.

WHERE SHOULD THE REAL E-BANKING BE?

First of all the bank must fully understand and appreciate the fact that the banking industry now exist,   in a global village. It must therefore strive to provide local and global banking services using the infrastructure of the global village. Most current E-banking applications use the internet, the advantages of on line banking are in providing convenience and flexibility for customers, lets take a look at some.

Online banking allows customers to get current account balances at any time. Customers do not need to wonder whether a check of has cleared or a deposite has been posted at the click of a button, customers can easily check the status of their current savings and money-market accounts through online banking. Banks can provider immediate account enquires or statements online for customers.

Online banking gives the ability to pay bills electronically, customers can also download account transactions on line, it should be easy to import the transactions directly into typical PC programs at home or office, the transfer of money between accounts is another powerful application of online banking, online banking provides flexibility by allowing the customer to assess his finances from any part of the globe.

THE INTERNET

Most of the applications mentioned involved the use of internet, the internet is the infrastructure for the current age, but hold it? E-banking is more than just internet banking in the still evolving e-climate in the economy, it involves using the net to exploit new opportunities by transforming products and markets and business processes.

E-banking also means developing new relationship with customers, regulatory authorities’, suppliers and banking partners with digital age tools, for example, it requires all understanding. Customer/bank relationships will be more personalized resulting in novel modes of transaction processing and services delivery.

E-banking is essentially about banks using new age methods and tools to expand into new banking markets and grow. Creating a corporate online presence for your bank should be more than just buildings a website. It should be about building a web business for your bank, to do this effectively the people in charge, i.e. the CEOs not just IT directors and managers must have a deep knowledge of what E-banking culture demands.

Banks can only apply IT effectively if management appreciation exists, unfortunately, many managers who claim to appreciate IT cannot use IT, and can you use what you don’t have?

            E-business

IT today, E-business, E-commerce is not about routine information management or automation, it is about being these unique tools to create opportunities, create new markets, new processes and growth or increase the creation of e- wealth.

The E-banking must monitor the environment local and global with the aim of understanding and mastering its environment. E-banking thus involves collaboration (local and international) on payments systems, cashless transactions, digital cash and other electronic based projects.

It can be seen that other immense potentials can only be realized if bank management and staff, not just the systems staff are sufficiently literate and aware, and presently the banking industry still has a lot to do in terms of training staff. The speed of change together with the need for proper orientation for the e-world makes training even more of a necessity.

For E-banking to be effective, an area that must be addressed is security, for any IT based service associated with e-banking increases the need for security, in e-banking the core security areas should be addressed. A key concern is that of privacy, you cannot expect to do business on the net without addressing the piracy concerns of    people you do business with. Do you have a privacy policy? No customer wants to click away to a negative balance. Security in online banking is typically provided through the use of an ID and password, these and other security measures must be effective to prevent not only the breach of privacy, but other security concerns like the alteration of data.

In conclusion to be a true E-bank each bank must identify its own unique targets, focus and style, banks needs to realize that E-banking is more than simply banking on the internet, E-banking is more than having a web-site, E-banking is about building a web business for your banks.

2.3       TYPE OF ELECTRONIC BANKING

Electronic banking consists of the following, mobile banking, internet banking, telephone banking, electronic card etc.

MOBILE BANKING

Mobile banking involves the use of mobile phone for settlement of financial transactions, it support person to person transfers with immediate availability of funds for the beneficiary, mobile payments use the card

infrastructure for movement of payment  instructions as well as secure SMS messaging for confirmation of receipt to the beneficiary, mobile banking is meant for low value transactions where speed of completing the transaction is key, mobile payment have a  very exciting potential within Nigeria, given the low infrastructure requirements and a rapidly increasing mobile phone penetration. The services covered under this product include account enquiry, funds transfer, recharge phones, changing of passwords and bill payment which are offered by few institution.

According to the research report on the survey of developments in the e-payments and service products of banks and other financial  institutions in Nigeria on 2007 carried out by Alhaji Suleiman and staff of banking operation department of Central bank of Nigeria page 6, it was reported that twenty one institutions offered these service with very low patronage by the customers for funds transfer. Further more recharge phone service was provided by sixteen (16) fell within low and medium range  respectively, thus signifying low patronage.

So the analysis above indicated that mobile banking has not really gained recognition among the banking public and is still a far cry from what is expected in terms of its usage.

INTERNET BANKING 

Internet banking involves conducting banking transactions such as account enquiry printing of statement of account; funds transfer payments for goods and services, etc on the internet (world wide web) using electronic tools such as the computer without visiting the banking hall. E-commerce is greatly facilitated by internet banking and is mostly used to effect payment, internet banking also uses the electronic card infrastructure for executing payment instructions and for final settlement of goods and service over the internet between the merchant and the customer, currently the most common internet payments are for consumer bills and purchase of air ticket through the websites of the merchants.

Report by staff of banking operation department of central bank of Nigeria in the survey of developments in the E-payments and service products of banks and other financial institutions in Nigeria reported that twenty-four institutions  provided  the  service  of account  enquiry  and the patronage was  somewhat  between  low  and  medium, ten  and  nine

institution had low and medium patronage respectively, while only five recorded high patronage level. Seventeen institutions provided the service of funds transfer in the proportions of Co, 51 and 2, with low, medium and high patronage levels respectively.

In particular, the internet shopping (local) had eight institutions in the proportion of seven in low and one in high patronage levels respectively, the  internet shopping (international) comprised of six institutions only and all were I the low patronage level. The recharge phone class was offered by seven institutions, out of which four two and one were in the low patronage level. The recharge phone class was offered by seven institutions, out of which four two and one were all in the low, medium and high patronage levels, respectively. For viewing and/ or printing of statement twenty institutions offered the service and the distribution was nine, eight change pin class, there were twenty – one institutions in the order of eleven, eighty patronage respectively. Another variation of this category was the bill payments class with eleven institutions with nine and two has low and medium patronage levels.

TELEPHONE BANKING

These are banking services which a customer of a financial institution can asses using a telephone line as a link to the financial institution’s computer centre. Services rendered through telephone banking include account balance funds transfer, change of pin, and recharge phones and bills payment.

The survey carried out by staff of banking operation department of Central Bank of Nigeria page 9 shows that much has not been achieved in telephone banking for now, for example, in the account enquiry  class, only ten institution were involved in the order of seven, two and one  in the range of low, medium and pin (CP) classes  phone (RP), and bill payment (BP) classes had ten institutions offering the services through telephone banking, in funds transfer there were only six institutions involved, four of which were in the low patronage level, while the other one fell within the medium range.

Change Pin had seven institutions in the proportions of five and two in the levels of low and medium patronage in addition recharged phone services was offered by two with one each having low and medium patronage level, only two institutions offered bill payment and both experienced low patronage.

            ELECTRONIC CARD

An electronic card is a physical plastic card that uniquely identifies the holder and can be used for financial transactions on the internet, automated teller machine (ATM) and point-of sales (Pos) terminal, to authorize payment to the merchant (seller). The various types of electronic cards includes debt, credit cards, releasable cards require visiting  banks for replenishment, debt cards are linked to local bank accounts and offer immediate confirmation of payment while credit  line and can be used for are linked to a credit line and can  be used for accessing local and international networks and were widely accepted in most countries, the underlying infrastructure and operational rules are often provided by global trusted schemes (such as  visa and master card) in addition to local lines. Debit cards are the dominant card mechanism in Nigeria, they are also known as ATM cards and ATM usage is wider than Pos transactions given the current limited deployment of Pos terminals.

There were five classes of services in this category namely, releasable card, debit card, naira credit card, visa card, master card and other survey carried out by staff of banking operation department of central bank of Nigeria reported that for reload able card, seventeen institutions offered the product, ten of which experienced low patronage while five where within the medium, and two in the high patronage levels respectively.

Twenty three institutions offered debit card, and the patronage was distributed in the proportions of eight five and ten in the low, medium and high patronage levels.

In the class of naira credit card, sixteen institutions offered the service, four were in the low patronage level, seven fell within medium, while five were in the high patronage class.

Visa card was offered by nine institutions in the proportions of five institutions in the low and four institutions in the high categories.

The master card class was offered by seven institutions, out of which six institutions experienced low patronage and one institution was in the medium patronage level.

2.4              THE PROBLEMS AND SOLUTIONS ASSOCIATED

WITH THE DEVELOPMENT OF ELECTRONIC BANKING IN NIGERIA

The development of an efficient monetary transfer system in Nigeria has been hampered by so many factors. These problems are infrastructural deficiency such as erratic power supply and communication link. In this case government should endeavor to provide stable and efficient power supply and telecommunication system.

Another problem is inadequate skilled managers and requisite tools on end users and client systems, here efforts should be done in provision of infrastructure and skilled man power, another problem is the large accumulation of cash in the country so the government should compel legislation that would charge the dominance of cash usage to electronic payments. Also there is high charge or cost for the e-payment terminals (ATMs) so the banking legislation should setout standard charges for e-payment services.

Another problem is non-provision of adequate security for fraud prevention, banks should endeavor to provide stand-by-camera in every ATMs machine for confirming identify of operators account and employ a good computer wizard in dictating and preventing frauds committed by computer hackers.

Another problem is lack of government support for the improvement of e-banking, there should be an involvement of C.B.N in public awareness campaign and escalating infrastructural challenges to the relevant government agencies and also encourages Nigerians to trust and migrate to e-payments.

Lastly one of the major problem is low level of awareness computer appreciation and literacy among the public and also over dependence on cash for all types of transaction. Awareness should be created to the public through media such as, television, bill board, radio etc on the trust and benefits derived from the usage of e-payment and also continuous promotion of cashless society via payments system reform programmes.

2.5       NEGATIVE IMPACT OF ELECTRONIC BANKING IN NIGERIA

            Power Failure and Communication Link

Constant electric failure leads to deficiencies in infrastructures such as ATMs computers etc which slows down the rate of electronic transactions and also failure links from Nitel lines which are often as a result of spekes and surges caused by NEPA’s in consistent electronic power supply.

            LACK OF COMPUTER BANK UP

As a result of lack of computer backup when the bank system is corrupt there will be a loss of information about a customer, and this may lead to misappropriation of customers account, therefore the bank should have a manual backup (ledger) containing all data about the customers.

LACK OF ADEQUATE INVESTMENT CAPITAL

Funds that can be used to buy new information technologies and for modernizing existing systems is generally in short supply. While there are a number of modern banking applications in use, there is also integrated banking system, Nigeria has continued to experience innovations in terms of product development specifically, there has been tremendous improvement in the speed in which funds are transferred within and outside the domestic economy (international money transfer).

REDUCES EMPLOYMENT IN THE COUNTRY 

Electronic banking in the country today has reduced the rate of employments in the country whereby most works that should be done by human are done by machines thereby lead to minimum rate of employment and high rate of unemployment in the country.

HIGH CHARGES ON MACHINES

The rate of commission or charges imposed by banks is too high thereby discouraging customers from using the electronic machine for exchange of transactions example of such charges are chaques on withdraw ATMs and online transfer from one bank branch to another.

LOW PUBLIC ACCEPTANCE

Customers and public do not have trust in the machine in the sense that fraudulent personals uses the system in carryout fraudulent activities, even today banks uses the machine in looting customers money from their accounts. Some customer complains that sometimes when they go for withdraw with their ATM the machine will seize the card while their account will still be debited with un withdraw sum in course of ratification of this problem, the customer might be discouraged because it will take a longer time or end up unsolved.

INSECURITIES IN BANKS    

Most electronic machines today are not secure thereby making it easier for fraudulent personnel to carryout their fraudulent activities without been caught. Due to insecurity, banks cannot prevent stop or dictate any fraudulent activity. Computer hackers also use the system in stealing data or information by breaking of codes.

ENCOURAGES EXCESSIVE WITHDRAWAL

Un-operational days like Saturdays when banks are not in operation customers can go and withdraw with their ATM cards, especially when there is a function like weeding ceremonies, customers with little or no money can rush to a nearby ATM machine to withdraw money for excessive spending, customers complained about this in an interview conducted by banks.

2.6       POSITIVE IMPACT OF ELECTRONIC BANKING IN NIGERIA

Speedup Settlement of Transaction: Electronic banking speedup settlement of transaction either national or international level where the bank stand as paying bank to the customers for settlement of transaction or debt and collection bank for the collection of payment on transaction made.

Reduces the Rate at Which Customers Visit Banks: The introduction of this system has bridge the gap between customer and his bank, where the customer can easily go any branch bank close to him and withdraw money from the ATM’s machine through the help of the inter bank-switch and also safes time energy and reduces stress of the customer. Also customers can make or carryout transaction while at home with the use of telephone.

Move into a Cashless Society: The introduction of the electronic machine has reduced the use of raw cash thereby moving the country into a cashless economy. As stipulated by Anyanwaokoro M. (1997), that the settlement of financial obligations are now done by the use of electronic gadgets such as computer, facsimile and telex, instead of currency notes and coins. He went on to say that individuals can pay their bills by using credit cards or even pressing some buttons that transfer money from one account to another. The perfection of this system is what he described as a move into cashless society.

Reduction of Theft: The use of electronic payment system has reduced the rate of theft stealing in the society. The federal government reported to daily champion  on Tuesday, April 21 (2009) that due to endemic corruption in official transaction and incessant robbery attacks on bullion van and bank vaults which made the federal government to direct immediate automation of government fiscal operations through a system known as electronic payment (e-payment).

Clearance of Good: Payment system in the custom areas help in ensuring easy facilitation of clearance of goods by importers, also the money accrue to the government would be paid up electronically thereby making the gathering of revenue very easy and checking of any fraudulent moves as reported by Mumdu H. daily sun, Friday May 21, 2010.                                                

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY

Design is the “specification of procedures for collecting and analyzing the data necessary to help solve the problem such that the difference between the cost of obtaining various levels of accuracy and the expected value of information associated with each level of accuracy is maximized”. It comprises a series of prior decisions and provides a master plan for executing a research project.

            According to the research, this chapter comprises of the following:

• Areas of study
• Population studied
• Sample and sampling techniques
• Instruments of data collection
• Methods of data presentation
• Methods of data analysis

3.1       AREA OF STUDY

In this research work the Diamond bank of Nigeria Plc constituted the population studied however, it was not possible to study the bank entirely, the researcher adopted a survey technique and as such the branch in Enugu metropolis at Okpara Avenue (Enugu main branch) was selected for the study. A population of one hundred (100) was targeted and studied.

3.2       SAMPLE AND SAMPLING TECHNIQUES

A sample was determined to obtain a broad view on the economic implication of electronic banking from the bank under study based on this the population of one (hundred) was targeted.

Thus, from the target population the sample size was determined using the formulae below:

                        n =      N

                                1+n (e)2

Where n = sample size

              N = the target population (100)

              e = margin of error (5%)

\ n =          100

                         1+100 (0.05)²

                   = 100        =          100      =80

                    1+0.25                 1.25

3.3       INSTRUMENTS OF DATA COLLECTION

The instrument of data collection for this research work was through distributed questionnaires.

3.4       METHOD OF DATA COLLECTION

The primary and secondary sources of data collected were adopted in this research work.

Primary Source: Data in the category were collected mainly though visits, personal participation and observation and distribution of questionnaires to the bank under study.

The various methods were adopted independently to reduce the incidence of bias or subjective views about the subject on investigation.

Secondary Source: Secondary data in this research work were collected through the review of related literature; the relevant literatures were obtained from books journals, magazines, and newspapers.

Consequently, libraries were consulted, prominent among them were the institute of management and technology library, national library, central bank of Nigeria (C.B.N)) zonal library, Banking and Finance Department library (Caritas University) and Caritas University main library etc. More so, in this era of globalization, information from the internet was also valuable.

3.5       METHOD OF DATA ANALYSIS

To accomplish the research, analysis of the data was of utmost importance since the data collected was in disarray and as such cannot make any meaning to the reader. 

Direct report of the qualitative data from observation has been made while descriptive statistics was utilized in the analysis of the descriptive data collected from questionnaires to generate frequencies and parentages. Statistical analysis is carried out on each of the research questions based on the data extracted from the computation of data which was effected using simple parentages after which comparisons were done to determine the effectiveness in achieving the desired objectives.

CHAPTER FOUR

DATA PRESENTATION, INTERPRETATION AND ANALYSIS

4.1       DATA PRESENTATION

The method of data analysis was based on the statistical table format using frequency distribution and consequently converted into percentages for easy analysis. Each tabular presentation represents the analysis of each question in the questionnaire which was subsequently described and with further discussion.

In all, eighty (80) questionnaires were administered of which seventy were returned the seventy questionnaires received formed the basis for our analysis and conclusion.

OBJECTIVE 1

            The extent of automation in the payment system.

Table 4.1

Would you say that all the operations of your bank are fully computerized?

Variables	Frequency	Percentage (%)
Yes	45	64
No	25	36
Total	70	100

From the table, 45 respondents who filled the questionnaires of the bank are fully computerized.

Out of the 70% respondents 25 representing 36% did not agree with this, from the above it is clear that a good number of Nigeria banks based their operations on computer technology.

Table II

Table 4.2

Does your bank use computer technology in the rendition of banking services?

Variables	Frequency	Percentage (%)
Yes	70	100
No	-	-
Total	70	100

All the respondents share the same view or agreed that computer technology is used by the bank in the rendition of banking services.

Table III

Table 4.3

Does your bank offer computer based payment services (such as smartcard, money transfer internet payment)?

Variables	Frequency	Percentage (%)
Yes	60	86
No	10	14
Total	70	100

With a total of 60 respondents representing 86% saying yes, it is deducible that banks in Nigeria offer one kind of computer based payment services, while 10 respondents representing 14% disagree with it.

Table IV

Table 4.4

To what extent does your bank use computer technology to offer computer based payment services?

Variables	Frequency	Percentage (%)
Large extent	42	60
Some extent	28	40
No extent	-	-
Total	70	100

From the above, 60% of respondents are of the view that computer technology is greatly used in rendition of services while 40% described the use of computer technology in service rendition as some extent.

OBJECTIVE 2

The major problem associated with the development of electronic momentary transfer system (electronic banking) in the Nigeria economy.

Table V

To what extent are the problems hindering electronic payment system?

Problem	Large extent	Some extent	Partly	No extent	%
Infrastructure deficiencies such as critic power supply and communication link	35	-	-	-	50%
Non- provision of adequate security for fraud prevention	-	-	15	-	21%
Inadequate skilled managers and requisite tools on end users and client systems	-	-	-	-	-
High change or cost for the e-payment terminals	10	-	-	-	14.5%
Lack of government support on improvement of e-banking	-	-	-	-	-
Low level of awareness and over dependence on cash by the public for all types of transactions	10	-	-	-	14.5%
Total	70				100%

On the list of problems hindering the implementation of electronic payment system in Nigeria is the problem of infrastructural deficiencies, which is associated with erratic power supply and communication link. 50% of the respondents recertified it was having a very great impact on the development of electronic payment system in Nigeria. 10 respondents, representing 14.5% respectively identified the problems of high charge or cost in using the payment terminals, while 15 respondents constituting 21% said that inadequate security for fraud prevention has little impact on the development of electronic payment system in Nigeria. 10 respondents representing 14.5% complained that there is low level of awareness and over dependence on cash by the public for all types of transaction in the economy.

OBJECTIVE 3

                        The effect of electronic banking system on bank’s profitability.

Table VI

Table 4.6

Would you say that the rendition of computer based payment services has improved your banks profit level?

Variables	Frequency	Percentage (%)
Yes	45	64
No	25	36
Total	70	100

From the table, 64% of the bank staff of officials who filled the questionnaires believe that the introduction of the computer based payment system have improved the profitability of their banks operation. 36% however has a contrary opinion.

Table VII

Table 4.7

To what extent has the introduction of computer based or electronic payment services improved your banks operational efficiency?

Variables	Frequency	Percentage (%)
Large extent	-	-
Some extent	10	10
Partially	15	21
No extent	45	69
Total	70	100

A good number of respondents representing 69% are on the opinion that the introduction of the electronic payment system has no impact or positive influence on their banks operational efficiency. 21% said that the impact is partially or insignificant while 10% claimed its impact or positive influence on operational efficiency described may be as some extent.

OBJECTIVE 4

The impact of various electronic payment systems on banking industry.

Table VIII

Table 4.8

Has the introduction of electronic payment products such as smartcard, ATMs, internet payment etc reduced your customer’s strength (financial ability)?

Variables	Frequency	Percentage (%)
Yes	70	29
No	50	71
Total	70	100

The response from the table is a clear indication that electronic monetary system cannot lead to financial disintermediation in banking industry. 71% of the respondents said since the inception of the electronic monetary system (EMTS) that their customer’s strength has not reduced. While 29% of the respondents had a different opinion.

 Table IX

Table 4.9

How would you describe the relationship between your bank and customer since the introduction of the products?

Variables	Frequency	Percentage (%)
Increased customer loyalty Patronage	50	71
No changed improvement	8	11
Decreased customer loyalty	12	18
Total	70	100

The introduction of EMTS from our table has shown how increased the confidence and loyalty of customers are to the banking industry, 71% of the respondents describe the relationship between bank and customers as an improved one after the introduction of EMTS has no improvement on bank-customers relationship. While 18% said that customer loyalty has declined towards the banking industry.

OBJECTIVE 5

The impact of electronic payment system on economic activities in Nigeria.

Table 4.10

Do you think the introduction of electronic payment products has increased the level of economic activities?

Variables	Frequency	Percentage (%)
Yes	20	28.5
No	50	71.5
Total	70	100

From the above table, it is very clear that electronic payment products has not increased the level of economic activities, 71.5% agree and share this view while only 28.5% had different opinion.

Table XI

Table 4.11

It there price stability since the introduction of electronic payment products in Nigeria?

Variables	Frequency	Percentage (%)
True	22	31
False	42	63
I don’t know	4	6
Total	70	100

As against the general belief of many writers the introduction of SMTS has not really brought about price stability in the economy. 63% of the respondents are of this view while 31% claimed that EMTS has created an atmosphere of stability in the pricing system of Nigeria economy.

Table XII

Tale 4.12

Have electronic payment products improved the country’s gross Domestic product (GDP)?

Variables	Frequency	Percentage (%)
True	15	21
False	59	71
I don’t know	50	8
Total	70	100

A large number of 71% respondents are of the view that EMTS does not have any incremental impact on the nation’s GDP only and insignificant percentage of 21 respondents share a different view, 8% of respondents claimed ignorance of the impact of EMTS on the GDP.

Table XIII

Table 4.13

The introduction of EMTS has the potential of increasing bank’s deposit base?

Variables	Frequency	Percentage (%)
Yes	18	26
No	52	74
Total	70	100

From the table above, 52 respondents who filled the questionnaire and which represents 74% disagree that the introduction of EMTS has the potential of increasing banks deposit base and out of the 70 respondents, 18 representing 26% agree with this.

4.2              DATA ANALYSIS

The use of computer technology in service rendition in the banking industry remains indispensable, from the responses obtained from bank official, more than 90 percent of Nigeria banks make use of information technology in offering payment services.

In a total of 70 respondents, 60 respondents representing 86% acknowledged the use of computer technology in table 4.3 providing services like money transfer, smartcard electronic funds transfer etc. this shows the extent of computer technology application in the banking industry.

Although the use of information technology (I.T.) is still not widespread in the banking industry, there are clear indications that in the nearest future I.T will become fully diffused in the industry. So far a good number of banks which offer computer based services tent to be constrained by a lot of factors. These factors constitute the major problem hindering the development of electronic banking system in Nigeria.

In this study some I.T related problems were identified they include: infrastructural deficiencies in communication link, inadequate skilled managers and requisite tools on end users and client systems non-provision of adequate security for fraud prevention.

Lack of government support in improvement of electronic banking, low level of awareness and over dependence on raw cash by the public in carrying out transactions and high charge or cost for the e-payment terminals, however, infrastructural deficiencies in communication link is a problem induced by the respondents as having a very great impact in the development of electronic payment system. About 50% in table 4.10 of the respondents attested to this.

However, in spite of these problem banks profit margin has continued to increase, according to our respondents it’s attributed to the introduction of computer based payment services. About 63% of respondents shared this view.

But as the extent, the introduction of electronic monetary transfer system (EMTS) has improved banks operational efficiency, the general consensus is that (EMTS) has improved bank’s operational efficiency, the consensus is that (EMTS) has a little or no impact on banks operational efficiency 69% of respondents are of the view that EMTS has no impact on efficiency while 21% described the impact as partial and about 10% described the impact as to some extent.

Equally, 71% of respondents are of the view that EMTS cannot lead to financial disintermediation in the banking industry while only 29% of respondents had a different opinion.

By implication, the introduction of electronic banking system (EMTS) has generally increased customers loyalty to banks. This view was shared by about 72% of total respondents.

Be that as it may, it is not very clear as to how electronic banking (EMTS) can constitute a problem to monetary authority in terms of money control and management or how it could increase the GDP or influence economic growth. But one thing clear is that electronic banking (EMTS) seems to show some level of uncorrelation with economics growth neither does it increase the GDP of a nation. On the average about 75% of respondents had shared this view.    

CHAPTER FIVE

              SUMMARY, RECOMENDATION AND CONCLUSION

5.1       SUMMARY OF FINDING

The introduction of electronic banking in Nigeria has a strong influence on the development of the payment system in particular and the banking system in general. However, the introduction of the system, involves commitment of huge amount of financial resources on computer technology and telecommunication facilities, computer technology is a primary requirement for the proper functioning of the electronic monetary transfer system (EMTS)/electronic banking.

The use of computer in payment system would not reduce the importance of branch banking in Nigeria or reduce customer’s confidence on the banking industry, from responses obtained from staff of the bank studied; the introduction of electronic banking has rather increased customers loyalty to banks in general.

The major problems hindering the effective operation of electronic banking in Nigeria are infrastructural deficiencies such as erratic power supply, lack of government support and high charge on payment terminals (POS, ATMS) e.t.c. These problems are only peculiar to Nigeria as it is known that in developed countries issues like power failure or failure links are not in existence.

However, the introduction of electronic Banking System has also contributed significantly to bank income by way of fee or changes gotten from these services.

5.2       RECOMENDATION

Uninterrupted Power Supply

The government should endeavor to provide 24 hours uninterrupted power supply because without electricity these products cannot be boosted and effective, but in this country there is erratic power supply, therefore all banking industry should have a standby generator incase of power failure, in other to cover the deficiency of power failure.

Government Supports:

In smooth functioning of the payment system the government have the major role to play, in aspect of financing the payment system which require a lot of capital to maintain and also in the aspect of creating awareness the government should endeavor to inform the public about the benefits derived on the payment system.

Provision of skilled manpower and computer Wizard in operation of the payment system

Skilled manpower and computer wizard should be employed by every Bank, in other to stop, prevent fraudulent personal and hackers from manipulating the Banks data and stealing money from the Banks accounts.

Provision and maintenance of public network, system such as telephone (Nitel) the availability of these basic infrastructures is fundamental to the efficient functioning of the payments system.

Failure to maintain these infrastructures implies that the banks must be ready to provide their own communication networks and operate electronic generating sets to ensure reliable power supply.

Collaboration among banks: Electronic payment system as a result of its huge financial involvement requires that banks must jointly set and manage a network system such as ATMs v-cards etc. collaboration helps to spread and reduce the initial costs of setting up the electronic Banking system.

5.3       CONCLUSION

The Nigeria system is as old as the banking industry; this dynamism is manifested by the nature and quality of payment products paraded in the system. These products range from common paper money, cheque, cash to electronic payment Products such as Automated teller machine (ATM), SMARTCARD telephone Banking, internet Banking etc with the introduction of these electronic payments products, it is expected that the volume and cost of processing cheque will be drastically reduced or eliminated.

The C.B.N other financial authorities and banks have a role to play in enhancing the system through effective banking and momentary policies, efficiency and stability are also ensured and promoted. Furthermore, to sustain the electronic payment system, certain strategic measures must be taken to reduce negative effects of the problems identified as obstacles to the smooth functioning of the system.

APPENDIX

                                                                           Department of Banking & Finance,

                                                                           Caritas University,

                                                                            P.M.B 01784,

                                                                            Enugu State,

                                                                            1st Dec. 2009.

Dear Sir/Madam,

I am a final year student of the above department undertaking a research on “Appraisal of the economic implication of electronic Banking in Nigeria Banks” (A case study of Diamond Bank of Nigeria in partial fulfillment of the award of Bachelor of Science (B.Sc) Degree in Banking and finance.

It would be appreciated if you will sincerely answere the questions contained there in.

Be assured that all information will be treated with utmost confidence and will be used for the purpose of this study.

                                                                                                Yours faithfully,

                                                                                                Umoren David .U.

QUESTIONNAIRE

Please tick (Ö) or fill in the gap in the appropriate place:

1.         What is your name?……………………………….……….

2.         What is your occupation?........................................

3.         Sex?

            (a) Male

            (b) Female

4.         Would you say that all the operations of your bank                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          are fully computerized?

            (a) Yes

            (b) No

5.         Does your bank use computer technology in the rendition of banking services?

            (a) Yes

            (b) No

6.         Does your bank offer computer based payment services (such as SMARTCARD, MONEY TRANSFER and INTERNET PAYMENT)?

            (a) Yes

            (b) No

7.         To what extent does your bank use computer technology to offer computer based payment system?

            (a) Large extent

            (b) Some extent

            (c) No extent

8.         Extent of impact of the problems hindering electronic payment system?

i.          Infrastructural deficiencies such as erratic power supply and communication link.

            (a) Large extent

            (b) Some extent

            (c) Partially

            (d) No extent

ii.         Non-provision of adequate security fraud prevention.

            a) Large extent

            (b) Some extent

            (c) Partially

            (d) No extent

iii.        Inadequate skilled managers and requisite tools on end users and client systems.

            (a) Large extent

            (b) Some extent

            (c) Partially

            (d) No extent

iv.        High charge or cost for the e-payment financials?

            (a) Large extent

            (b) Some extent

            (c) Partially

            (d) No extent

v.         Lack of government support in improvement of e-banking

            (a) Large extent

            (b) Some extent

            (c) Partially

            (d) No extent

9.         Would you say that the rendition of computer based payment services has improved your banks profit levels?

            (a) Yes

            (b) No

10.       To what extent has the introduction of computer based or electronic payment services improved your banks operational efficiency?

            (a) Large extent

            (b) Some extent

            (c) Partially

            (d) No extent

11.       Has the introduction of electronic payment products such as smartcard ATMs, internet payment e.t.c reduced your customer strength (financial ability)?

            (a) Yes

            (b) No

12.       How would you describe the relationship between your bank and customer since the introduction of the products?

            (a) Increased customers loyalty/patronage

            (b) No charge/improvement

            (c) Decreased customer loyalty

13.       Do you think the introduction of electronic payment products has increased the level of economic activities?           

(a) Yes

            (b) No

14.       Is the price stability since the interdiction of electronic payment products in Nigeria?

(a) True

(b) False

            (c) I don’t know

15.       Has electronic payment products improved the countries gross Domestic products (G.D.P)?

(a) True

(b) False

            (c) I don’t know

16.       Has the introduction of EMTS has the potential of increasing bank’s deposit base?

            (a) Yes

            (b) No

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                         Nigeria: Hossana Publication.

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Onwurah, A. (1998). Introduction to Academics Research Methods, Enugu, Nigeria: Gostak Printing and Pub. Co. Ltd.

Orjih, J. (1996). Element of Banking, Enugu, Nigeria: Rock Communication Publication.

Orjih, J. (1999). Business Research Methodology, Enugu, Nigeria: Metteson Publishers.

JOURNAL ACTIVITIES AND NEWSPAPERS

Akinuli, O. (1999). Information Technology in Business Industry, Operational Application, Problems and future Challenges. C.B.N Bullion, Vol. 56, P.A 7-24.

Edet, O. (2008). Electronic Banking in Banking Industries and its Effects.  International Journal of Investment and Finance, Vol. 3, A.P 10-16.

Hodagho, E. (1996). Assessment of Risk Involved in the Payment System. A paper Presented at C.B.N Seminar on Payment System, Vol. 1, P.A 22- 46.

      

Suleiman, B. (2007). Report on the Survey of Developments in the e-   payments and Service Products of Banking and other Financial    Institutions in Nigeria. Central Bank of Nigeria Library, P.A 6-    14.

Usman, S. (1998). Electronic Banking in Nigeria and the Automation of   the Nigeria Financial System. A Paper presented at C.B.N seminar    on the Dynamic of Managing the Nigeria System in 21^st century,    Vol. 1, P.A. 12-30.

Ibrahim, D. (2009, April 12). Boosting Payment Solution with Visa Card.

            Daily Champion, P. A. 12.

James, A. (2009 April 21).  Boosting Payment Solution with visa Cards.                  Daily Champion, P.A.12.

James, O. (2009, April 21). E-payment and its Challenges. Daily Champion,        P.A. 13.

Mundu, H. (2010, May 21). Importance of e-payment on Clearing and          Forwarding. Daily Sun, P.A.8.

Oleka, J. (2009, April 21). E-payment and Its Challenges. Daily Champion,        P.A.13.