ABSTRACT
This Project goes into the Roles of Electronic
Banking in Nigeria,
the supervisory framework. The security
for the money, the component of the Electronic Banking, finding and
recommendation for future uses.
It is of a great importance to the students of
Financial and Business Studies and those in economics. It is a very important to business
consultants and investors.
TABLE OF CONTENTS
Title Page
Approval
Page
Dedication
Acknowledgement
Abstract
Table of
Contents
CHAPTER ONE
Introduction
Background
of the Study
Statement
of the Problem
Objective
of the Study
Significant
of the Study
Limitation
of the Study
CHAPTER TWO
Review of Related Literature
CHAPTER THREE
Research Design and Methodology
CHAPTER FOUR
Findings
CHAPTER FIVE
Recommendation and Conclusion
REFERENCES
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The advent of financial innovation such as credit
cards, smarts cards, electronic transfers in the payment system and more
recently, the linking of the Internet banking have transformed the world into a
global village linked with electronic impulses.
The concept of electronic money was introduced in 1996 when the Central
Bank of Nigeria gave approval to All States Trust bank Limited to offer a
financial product known as the ESCA, SMART CARD, an electronic purse.
Subsequently, diamond bank limited introduced a
parallel product known as diamond pay card. However, the smart card scheme
received a boast in February 1998, when a consortium of 19 licensed banks
allocated a smart card company, smart card Nigeria Plc with a mandate to
produce a manage cards issued by the member banks of the consortium. Another
consortium of more than 20 banks under the auspices of gem card scheme in year
the 2000.
These innovations, which are still at a relatively
early stage of development have the potential to challenge the predominant role
of cash for making small value payments and makes retail transactions easier
and cheaper for consumer and merchants, who are current account holders.
However, they also raise a number of policy issues because of the possible implication
for central bank monetary policy, consumer system.
In response to information technology development in
the domestic financial sector, the central bank of Nigeria commissioned an information
technology strategy study in 1991 with the objective of promoting the efficient
performance of its statutory duties. The project is being implemented in phases
and both the licensed banks and the regulatory authorities demonstrated the
appreciation of benefits derivable from use of information technology.
In view of foregoing, the central bank governors of
the group of ten (G-10) countries commissioned a series of studied on specific
issues related to electronic money in November 1995.
1.2 STATEMENT OF THE PROBLEM
This research work is to address itself on the task
to determine the impact of electronic banking in Nigeria.
(a) In
this era of expanded information technology activities around Nigeria
electronic banking is more than ever needed.
(b) Inadequate
information technology awareness
(c) Show-paced
information and communications technology growth in Nigeria due to inadequate finding
by government and its agencies.
(d) Inactive
regulatory bodies to provide needed logistics and technical support.
(e) Lack
of sufficient skilled manpower.
(f) The
confidentiality of sensitive information transmitted on public digital network
raises a lot of fears on security.
(g) Low
income level.
It is in the light of these afore mentioned reasons
that these study is under taken, to provide some solution to the numerous
problems associated with the role of electronic banking.
1.3 OBJECTIVE
OF THE STUDY
This study has the following
as its objectives:
1. To
discuss how electronic banking works in Nigeria banking system.
2. To
discuss the problems of electronic banking in financial institutions in
Nigerian economy.
3. To
highlight the effects of electronic banking in Nigerian economy.
4. To
discuss the different components of electronic banking.
5. To
ascertain the role of electronic banking in the development of financial
industries in Nigeria.
6. To
identify ways of ensuring prompt electronic banking that will be approved by
the government.
7. Finally,
to suggest or make recommendations on what should be done, in order to have
efficient electronic banking system in Nigeria.
1.4 SIGNIFICANCE
OF THE STUDY
This study will be of immense help to the students
and lecturers, who will want to conduct some research in this same topic. It
will serve as a guide to the students who are in this field of education.
It will be useful to the Nigeria banking system more
especially to the commercial bank, as it will be an aid to them on how to
update electronic payment.
It will serve as a reference material to those, who
will want to write on this same topic.
It will be useful to overcome the set back that Nigeria has
before as developing country.
It will serve as a tool for
managerial decision and policy making.
Finally, this research work is useful information to
the existing literature in the area to electronic banking.
1.5 LIMITATIONS
OF THE STUDY
The study of role of electronic banking in Nigeria is an
inexhaustible one and the researcher tends to limit it.
The researcher could not be able to achieve as much
as she could because of the following limitations:
1. PRESUME
FROM CLASS WORK
The pressure being encountered again is that as
they are so many assignments to be written and submitted within a stipulated
time. It will be very difficult for the researchers to be combine class work
and writing of this study.
2. FINANCIAL
CONSTRAINT
A student’s financial constraint is another factor
as it is very difficult materials; therefore the researcher faced the problems
of finances.
3. TIME
Time allocated to the study is short, there by
making it difficult to get to the text books, the journal, periodicals, and
news papers etc.
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