The Effects of Information and Communication Technology to the Growth and Development of Banking Activities in Nigeria

Abstract

The research work focused on the contributions of information and communication technology to the growth and development of banking activities in Nigeria. The research work tried to identify and to assess the extent of the use of Information Technology in First Bank of Nigeria and seek to find out what impact as a whole does Information Technology have on banking operations. Questionnaires were generated, distributed and result analyzed using statistical data. The findings of this study reveal that a positive correlation exists between ICT and banks profitability in Nigeria. This implies that a marginal change in the level of the investment and adoption of ICT in the banking industry will result to a proportionate increase in the profit level. This is confirmed by the level of the regression coefficient as well as the factor analysis which revealed that an insignificant size of profit exist without the introduction of the ICT. The results in Table a, b and c show that banks that have a high level of ICT will make intensive use of production and efficiency practices such as business re-engineering, outsourcing and flexible work arrangements which will yield the best performance. Keyword: Banking, Development, ICT, Analysis, data, research