Electronic banking is a subject receiving great attention in the banking industry and the regulation agencies. It is a driving force that is changing the landscape of the banking industry. It has blurred the boundaries between different financial institutions, enabled new financial, products and services and made existing financial services available in different packages. Some analysis argue that electronic banking is revolutionizing the banking industry, others see it as simply complementing the physical banking branches; irrespective of its own merits there are diverse challenges and problems associated with this form of banking in Nigeria.
The main research instruments used are questionnaires and personal interview for staff and customers of various banks, primary and secondary method of data collection were used. The simple frequency percentage was adopted as the statistical measure and hypothesis testing was analyzed using chi-square. In conclusion, the study revealed that electronic banking despite its challenges has led to increased efficiency in banking and its service ,cost-reduction in banks, and reduction of waiting time experience in the banks. The research recommended that banks should follow the stipulated electronic banking guidelines of the central bank of Nigeria. Government should accelerate actions that will enable a good environment and the growth of the banking sector.
1.1 Introduction
In this section, Electronic Banking in the Nigerian Environment: Challenges, Issues and Problems is discussed, with relevant and recent citations. As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the aim and objectives of the study. Others are significance of the study, scope of work, research hypothesis and questions, limitation of the study and definition of terms.