Thesis: THE ROLE OF INFORMATION TECHNOLOGY ON COMMERCIAL BANKS IN NIGERIA

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CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Globally, information technology has become a key element in economic development of many
countries in the world. Over the years, many innovations have taken place in the world,the most
striking and most celebrated is the aspect of information technology. Organizations today are
confronted with rapidly changing market condition indicated by high merger rate and strong
competitors. Under these conditions, traditional management approaches that focus on financial
figures and on centralized, analytical planning methods are considered to be insufficient for
effectively steering the organization in dynamic environment.
Irechukwu‟ (2000), itemized banking services that have been changed via the use of information
technology as including opening an account, mandate on customers account, and transaction
processing and recording. Information Technology which is synonymous with computer
communication technology in everyday language can be defined as technologies that facilitates
the information cycle, comprising gathering, processing, disseminating and storing of
information and as such information technology encompasses a wide range of technologies such
as telephone, computer, word processing application, web browser, servers, full text document,
database and main frame computers.
Its devices especially modern computer email facilities and internet has therefore strengthened
early modernizations such as fax and telephone. Other technology devices include data
recognition equipment, telecommuting and teleconferences using real time and services (Adeoti,
2005).

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Information Technology has provided self-service facilities from where prospective customers
can easily complete their account opening documents directly online.Information technology in
Nigeria banking system and operation has been acknowledged as the life wire of banks in the
financial sector as it promotes and facilitates the performance of banks in the country. This
therefore calls for as a result, there is a pre-requisite need to embrace information technology. It
is in view of this that this research work attempts to examine the impact of information
technology on the performance of banks in Nigeria today. Information communication
technology has played a prominent role in all areas of human life but the breakthrough of social
progress and the vigorous development in technology has immeasurably increased the role of
information in every facet of human life.
It has also improve the overall processes of commercial banks performance in Nigeria, via the
use of innovation and creativity pertaining to information technology by commercial banks, this
as a result has led to smooth, easy and convenient way of banking with adequate and quality
service to customers, which has also paved way for efficiency and effectiveness to banking in
Nigeria.Banking operation in Nigeria is becoming highly information technology based this is
because of its inter-sectorial link and as it appears to be reaping from technology revolution, as it
is seen by its application in all areas of its activities (Akinuli, 1999).
According to Laudon and Laudon, (1991), opined that managers of banks cannot ignore
information technology because it plays a significant role in contemporary organization.The
application of information technology concept, techniques, policies and implementation
strategies to commercial banking services has therefore become a subject of fundamental
importance as it concerns all banks and a prerequisite for local and global competitiveness.

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1.2 STATEMENTOFRESEARCHPROBLEM
Information Technology is seen as the book-bone of the financial system in the economy and
could also be referred to as the life-line of the economy therefore the success of an economy is
solely based on its financial system which out rightly is reference still being made to the past, to
do with the banking performance in the economy.A broad opening in technology has been
experienced in the world for banks and they are currently taking advantage of these innovations
to provide better improved customer and more efficient services that will enhance productivity
(Akinuli, 1999; Ovia,2005).
This project will therefore find out the role or impact which the adaption ofinformation
technology has had on the vast majority operations of commercial banks in Nigeria. It will
provide a basis or proposed recommendations which can be re-adjust to the threats,
opportunities, features technological competition and contingencies of technological banking on
commercial banks in Nigeria.According to Milgrom and Roberts (1990) they argued that to be
successful, firms typically need to adopt information technology as part of a “system” or
“cluster” of mutually reinforcing organizational approaches.
Banking has come of age and as such, competition has alerted banks to look for innovations that
will keep their customers and even win more customers. As a result of the need for efficiency
and effectiveness of information technology on commercial banks, the web was introducedand
has been used mostly for commercial purposes through internet banking and information
technology. The adoption of information technology in the banking sector is also attributable
owing to the fact that, linguistic barriers needed to be put to an end to enable easy and cheaper
communication during transaction, to foster customer-bank relationship, increase customer
satisfaction, improve operational efficiency, reduce the running cost, reduce transaction time,

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give banks competitive edge, provide security to investors fund and promotion of other financial
services. This cloudy atmosphere therefore provides a fertile ground for the researcher to
examine the role of information technology in the banking sector, especially its impact on
Guaranty Trust Bank Plc, which will be used as a case study for this research so as to realize its
significant impact and also short and long term goals in their operation in order to guarantee their
profitability and growth.
1.3 OBJECTIVEOFTHESTUDY
The general purpose of this study is to examine the role of information technology in commercial
banking in Nigeria. Guaranty Trust Bank Plc is used as a case study for this research project. The
study specifically aims to determine the significant role of information technology in commercial
banking in Nigeria.It will examine how information technology has enhanced the growth
of commercial banks in Nigeria. Determine the effect of information technology in the process
and operation of Nigerian banks. It will evaluate the extent to which job satisfaction of the banks
has been influenced and affected ever since the introduction of modern information technology
on commercial banks. In this regard the main objectives of this study will include:
i. To determine the extent to which information technology has contributed to
customer satisfaction and banks performance.
ii. To determine how skillful and knowledgeable the staff are in the use of information
technology in commercial banks.
iii. To determine whether there is an increase in the level of efficiency and effectiveness
of operations since the introduction of information and electronic technologies in
commercial banking system.

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1.4 RESEARCH QUESTIONS
i. To what extent does information technology have any effect on the performance of
commercial banks in Nigeria.
ii. To what extent has information technology devices (computer, office automation) help
bank staffs in the operations of their duties.
1.5 RESEARCH HYPOTHESIS
In other to carry out this research the following hypotheses have been postulated.
1. The Null (H0)Hypothesis
2. The Alternate (H1)Hypothesis
The null hypothesis states a conjecture in a negative form while the alternate states a conjecture
in a positive form (Izedonmi, 2005). For the purpose of this study, the hypothesis testing shall be
stated thus:
Hypothesis 1:
H0: The use of information technology does not have a significant effect on the operation of
commercial banks.
H1: The use of information technology has a significant effect on the operation of commercial
banks.
Hypothesis Two:
H0: Information technology devices do not help bank staffs effectively in the performance of
their duties.

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H1: Information technology device has helped bank staffs effectively in the performance of their
duties.
1.6 SCOPE OF THE STUDY
This research is concerned with the role of information technology on commercial banks in
Nigeria using Guaranty Trust Bank Plc for the case study. These bank was certified worthy for
the research due to the wide spread branch network and high indulgence in I.T practices. The
bank performance is weighted before and after the incorporation of information technology into
the system.
We are also concerned with how the employees and the customers are reacting to this new
innovation. We will also consider if investment made in information technology was worth the
end result achieved. We will also endeavor to expatiate on the new facilities leading to the
assimilation of information technology in the banking industry in Nigeria.
1.7 SIGNIFICANCE OF THE STUDY
Information technology has a major driving force to the development of technology which has
impacted positively in virtually every sector of the Nigerian economy.
In the banking sector, financial institutions use computers in their day to day operations in order
to provide quality of service to their customers via the use of modern day technology.
Information technology has also improved customers knowledge about the use of computer and
other gadgets through which customers of a bank can access their bank account and make other
payments anywhere in the world.

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Information technology has also enhanced government work via reliable infrastructure, skilled
human resources, open government and other essential issues of capacity building and also
developing centres to improve IT capabilities especially at zonal, state and local levels.
1.8 METHODOLOGY OF THE STUDY
1.8.1 In order to access the perception of banking customers in Nigeria with respect to the
banking services rendered, a questionnaire survey is conducted. Some questionnaires will also be
issued to the bank managers, employees and I.T staffs in order to get an appreciation of what
type of I.T systems and electronic application services were available in the chosen banks. The
responses are measured with a five-point rating scale, where (SA)=5 Strongly Agree, (A)=4
Agree, (N)=3 Neutral, (D)=2 Disagree, (SD)=1 Strongly Disagree. The information will then be
retrieved from the bank after a stipulated period of time. The information will be observed,
analyzed, compared, contrasted and conclusions will be arrived at. These conclusion will be
derived from the questionnaires and most likely to provide answers to questions posed by this
research. This will help to clarify and broaden our sense of direction in this research work.
1.8.2SOURCES OF DATA
There are two sources of data which includes primary and secondary data. This research work
will make use of primary data.
Primary Data: The use of questionnaires will adopt a structured questionnaire approach which
will be administered to commercial banks.
Secondary Data: This will include text books, journal, newspaper, internet etc.

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1.9 DEFINITION OF TERMS
Computer: is an electronic machine that can store, organize and retrieve/locate information,
perform calculations and control other machines.
Intranet: Intranets are computer networks that are privately developed and operated and
operated within an organization.
Extranets: Extranet is a collaborative network that uses internet technology to link with their
suppliers, customers or other business that share common goals.
Information Technology: is the study or the use in electronic processes for gathering and strong
information and making it available using computers.
World Wide Web: is the system on the internet that allows you to find and use information that
is held on computers all over the world.
Computer Security: has to do with the protection of information from theft, competing or
preservation from availability.
Electronic Banking: is the situation whereby transfer of payment are been done via computers.

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Automated Teller Machine: is a machine that enables banks customers to withdraw money
from their checking or savings account by inserting an Automated Teller Machine.
1.10 LIMITATION OF THE STUDY
This research work will be based on the importance and role of information technology in
commercial banking in Nigeria using Guaranty Trust Bank Plc. Head Office as a case study. The
respondent will comprise of bank staff and customers numbering 1-100.It will examine the
extent to which banks have embraced information technology (office automation, computers) as
well as determine the role information technology has had on the customer (i.e. if they prefer the
old ways of banking operations or if they prefer the new and modern ways of banking
operations.This study may be limited due to slow response of some banks in giving out
information and low co-operation on the part of the members of the public.

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CHAPTER TWO
LITERATURE REVIEW
2.0 INTRODUCTION
Information Technology (IT) is the bedrock for national development in a rapidly changing
global environment, and this challenges us to devise bold and courageous initiatives to address a
host of vital socio-economic issues such as reliable infrastructure, skilled human resources, and
other essential issues of capacity building. In addition, many banks have installed up-to date
modern computers that will enable them achieve communication and multimedia connection on
the Extranet, Intranet and internet. As Gates (1995) put it, „The personal computer has already
had a huge effect on business. But its greatest impact won‟t be felt until the PC‟s inside and
outside a company are intimately interconnected‟.
The study here reveals that to achieve a successful and an effective communication commercial
banks need to connect their computers to the internet via the use of networks such as Local Area
Networks (LANs) or Wide Area Networks (WANs), with this network put in place, bank staffs
can work simultaneously on the same document either by sending or receiving emails internally,
externally and from the rest of the world. Aig-Imoukhuede, (2003), mentioned that to bring
banking services closer to a customer and to guarantee the opportunity to use them anytime a
customer wants, the on-line-real-time phenomenon which has been the single most important
change to banking operations over the last ten years. He opined that online banking services

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should be made available to customers at any time so as to bring a customer closer and familiar
with banking services.
In my own view, as regard to Aig-Imoukhuede (2003) statements, banks have installed modern
computers connectivity that would enable them achieve better communication of data,
information and documents in providing modern day banking services to the customers, this as a
result has brought more customers to patronize the banks. Managers and other staffs of banks
need to be able to search and gather data from several different types of sources, analyses them,
select the relevant ones and organize them in such a manner to allow them to make decisions
based on the organized data.
Ovia, (2000), also noted that commercial banks have improved basically on the deployment of
information technology in their banking operations, and that information technology budget for
banking is larger than that of other industries in Nigeria. For this reason he conducted a research
that on-line system has facilitated internet banking with banks. He found out that banks now
offer smooth and flexible way of operating accounts in any branch irrespective of where the bank
or the account is domiciled. However, he said banking for tomorrow requires more of electronic
manipulation and shuffling of bits-based money and other banking transactions, instead of paper.
However, paper based transactions are now being replaced by electronic-based transactions.
In addition to the statement above Woherem, (2000), opined that Nigerian banks since 1980s have
performed better in their investment profile and use of information communication technology systems,
than the rest of industrial sector of the economy. The two study above provides a basis to which
information technology, (IT) has changed the processes and operation of commercial banks in
Nigeria.

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2.1 CONCEPTUAL FRAMEWORK
2.1.1 DEFINITION AND MEANING OF INFORMATION TECHNOLOGY
Information technology simply refers to as the gathering, storing, manipulating and transferring
information. It is the automation of process, controls and information production using
computers, telecommunication, software and ancillary equipment such Automated Teller
Machine and Debit Cards.It is a term that generally covers the harnessing of electronic
technology for the information needs of a business at all levels. Laudon D. and Laudon J. (2001),
assert that Information and Communication Technology deals with the physical devices and
software that link various computer hardware components and transfer data from one physical
location to another.
Harold and Jeff (1995), contend that financial service providers should modify their traditional
operating practices to remain viable in the 1990s and decades that follow. They claimed that
most significant shortcomings in the banking industry today is a wide spread failure on the part
of senior management in banks to grasp the improvement of technology and incorporate it into
their strategic plans.
2.1.2 OVERVIEW OF INFORMATION COMMUNICATION TECHNOLOGY (ICT)
Wirsiy and Shafack (2002) defined information communication technology as a broad-based
term that encompasses the gathering, acquiring, organization, packaging, storage and retrieval,
dissemination of above multi-media, using a combination of computers and telecommunications.

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Advancement in information technology has brought about tremendous progress in banking
sector across the globe.This is because information communication technology has brought about
dramatic and dynamic changes in the global system of banking. Igwe, (2005), noted that the
advent of the electronic mail and personal computers on every desk, the internet and its
application to banking have produced amazing results.
The basic existence of computer and information technology in financial institution has
improved dramatically. Some estimates indicates that, in 1980‟s, about 50 percent of all new
capital investment in organizations has been in information technology (Westland and Clark
2000). Information technology to business today is widely acknowledged, while large business
have been using computers for some time now due to improvement in information technology.
Information technology strategy has been emphasized in different area both empirical and
prescriptive research studies. In a statement by Womboh and Abba, (2008), they believed that
information communication technology (ICT) and information technology (IT) are similar
concepts that can be used interchangeably.
2.1.3THE EVOLUTION OF INFORMATION TECHNOLOGY
Information technology has brought enormous changes, challenging how organizations are
structured and how businesses are run. Information technology is continually evolving, breaking
new barriers, defining new horizons, and bringing new dimensions to our lifestyle. Information
technology can simply be defined as a systematized body of tools, techniques and infrastructure
for generating, collecting, storing, processing and transmitting information and data.During the
late 1950s and throughout the 1960s, business data was processed through punched card
equipment, electronic accounting machines, and massive mainframe computers with far lower
capabilities than today‟s microcomputers. The data processing function, then, was the

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responsibility of the electronic data processing (EDP) department. In 1970s the advent of
primitive multi-user networks as terminals got connected to the massive mainframes.
It was also the beginning of database management systems that came as a response to the
challenges posed by large volume of business data. This was the foundation era of information
system (IS), Management Information Systems (MIS), and Decision Support Systems (DSS).All
processes were centrally handled using applications software that were developed with the third
generation of programming languages. The next decades witnessed the fusion of
telecommunications and networking technologies for business deployment. This ushered in
distributed data processing, office information systems (OIS), and personal computers (PCs).
Prominent among the goals of business enterprises at this time was improvement in the quality of
products and services, hence, investments in total quality management (TQM) characterized the
strategy of the leading organizations of the 1980s.
In the 1990s, advances in technology made possible many innovations in programming
languages that even the most optimistic of technology enthusiasts would have thought impossible
only a few years earlier. Perhaps the greatest IT innovation of today is the „Information
Superhighway‟. With the full integration of telecommunications and computer technology have
come now new but distinct technologies such as the Internet, GroupWare and multimedia.
Today, as we move into the new millennium, the new competitive weapon is networks and the
velocity of data throughput in intranets and extranets, and around the world, through the internet.
The total breakthrough in information technology emerged in the mid-1990s. This period was the
era of information super highway which organizations use to expand business frontiers by using

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the new technologies to exploit opportunities. Today‟s business environment is very dynamic
and it undergoes rapid changes as a result of technological innovation, increased awareness and
demands from customers. Business organizations, especially the banking industry of the 21st
century operates in a complex and competitive environment characterized by these changing
conditions and highly unpredictable economic climate. Information technology is at the center of
this global change curve. Laudon and Laudon, (1991), contend that managers cannot ignore
information systems because they play a crucial role in contemporary organization. He pointed
out that the entire cash flow of most fortune five hundred companies is linked to information
system. Therefore, this study provides the basis that application of information technology
concepts, techniques, policies and implementation strategies to banking services will become a
subject of fundamental importance and concerns to all banks and indeed a perquisite for local
and global competitiveness. Information technology affects how managers decide, how they plan
and what product and services are offered in the banking industry. It has continued to change the
way banks and their corporate relationship are organized worldwide and the variety of innovative
contend that financial services providers should modify their traditional operating practices to
remain, viable in the 1990s and the decades that follow.
Woherem (2000), claimed that only banks that overhaul the whole of their payment and delivery
systems and apply information technology to their operations are likely to survive and prosper in
the new millennium. In his statement, he advises banks to re-examine their service and delivery
system in order to position them within the framework of the dictates of the dynamism of
information technology. The banking industry in Nigeria has witnessed tremendous changes
linked with the developments in information technology over the years. The quest for survival,
global relevance, maintaince of existing market share and sustainable development has made

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exploit action of the many advantages of information technology through the use of automated
devices imperative in the industry. This study therefore evaluates the response of Nigerian banks
to this new trend and examines the extent to which they have adopted innovative technologies in
their operators and the result effect.
2.1.4 INFORMATION TECHNOLOGY IN FINANCIAL SERVICE DELIVERY
The year 1980‟s witnessed the advent of telecommunication and networking, banks began to
display information technology systems as a local metropolitan and wide area network. While
many of the large banks stuck to centralized system because of heavy investment in technology
equipment, the smaller banks began to imbibe the distribution approach which was beginning to
emerge and which was more affordable especially as it allows organizations with the flexibility
of scalable infrastructure.
2.1.5 THE CHALLENGES AND SOLUTIONS OF INFORMATION TECHNOLOGY
APPLICATION ON COMMERCIAL BANKS
Nigeria‟s poor infrastructures have been identified as the first major challenge in banks. Reports
have it that in Nigeria, there are only one computer and four main telephone lines per thousand
people. Also, electricity supply is sporadic and inefficient. Most importantly, Nigeria has very
low internet access with less than one internet service provider per thousand people. The cause
for such low internet access is the ineffective implementation of information technology. The
challenges being faced by Nigerian banks in their attempt to ensure a smooth exchange of
electronic data and information are:
i. The need to build a better infrastructure that will serve as backbone for communication
within the banks.

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ii. The need to collaborate in sourcing for new technological equipment that will provide
common standard.
iii. The need to get better at information technology system development and operation by
bank management.
iv. The need to impress by improving the present telecommunications infrastructure.
To combat these challenges, the following were proffered:
i. There should be government and public awareness to attract long term investments in the
telecommunication industry.
ii. Emphasis should be set on the importance of maintaining existing infrastructure and
equipment (Oyedokun and Oladejo,).
Morufu and Taibat, (2012) researched on banker‟s perception on information technology in
Nigeria purposely to find out how bankers perceive the benefits and threats associated with
information technology by investigating banks employees‟ perception on electronic banking and
its implications on bank service delivery. The study therefore concluded that „government access
to data‟ appears as the most important benefit and risk respectively while reduced. HR charge
high costs for services that are least important for benefits and risk associated with electronic
banking.In my own study a lot of research work has to be done in order to combat the challenges
of information technology faced by commercial banks and other financial institutions in Nigeria,
there is need for banks and the government to educate the public in the use of online banking
products, to invest more into information communication technology infrastructure and for the
government to reduce tax of information communication technology gadgets.
Internet banking and online banking is not yet developed in Nigeria, (Amaoko, 2012).Singh
(2002) opined that technology has introduced new ways of delivering banking services and

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products to customers, such as ATMs, and internet banking (IB). Hence banks have found
themselves at the forefront of technology adoption for the past three decades. These changes and
developments in the banking industry have impact on service quality, future of the banking
activities, and consequently its continually competitive ability in the world markets since going
along with technology is one of the most important factors of economic organizations success in
general and banks in particular (Nyangosi, 2009).
2.1.6 INTERNAL NETWORK AND COMMUNICATION IN COMMERCIAL BANKS
The application of networks is a vital part of an effective information communication technology
enabledsystem, which is especially true in the case of banks with a branch network. Local Area
Network (LAN) may also be seen as a basic indicator of the minimum infrastructure required to
enablecompanies to conduct electronic banking at a substantial level. Examples of the use of
internal network and communication in banking operation include:
Automated Tell Machine: This is a type of retail banking technology. It provides major roles by
offering convenience, speedy and round the clock service. Automated teller machine has the
capacity to make available enquiries on balances, interest and exchange rates, withdrawals,
deposits and account transfers 24/7.
Wireless Communication: Wireless communications networks are networks that require no
guided media like cables and fibre optics but unguided media. They are called unguided because
they need no physical device to link the nodes together but radiate or broadcast information in
many directions. Basically wireless communications employ the use of microwaves, satellites,
radio and infrared transmissions to transport packets of data from one location to another.

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Data Processing: It is basically used to analyze, summarize, and convert data into useful
information. It may be automated and it runs on a computer. Data processing can be said as the
process of recording, analyzing, sorting, summarizing, disseminating and storing data.
Teletex and View Data: Teletext and view data are new information systems utilizing the
domestic television receiver for display purposes. These systems have been evolved over the last
six or seven years and receivers are now becoming available for the public. It was recognized
when the first proposals were made that it would be essential to produce decoders that could be
designed into receivers with minimal additional cost and large-scale integrated circuits have
enabled this to be achieved, Mother sole, (1979).
Telecommunication: Telecommunication is the electronic movement of information from one
location to another. This involves setting up a computer network within the office (intranet) or
outside the office (extranet) to facilitate electronic dissemination of information,
teleconferencing and among stakeholders.
Voicemails: It allowed users and subscribers to exchange voice messages; that are used to select
and deliver voice information; and to provide transactions relating to individuals, organizations,
products and services, using telephone. It is used more broadly to denote any system of
conveying a stored telecommunications voice messages, including using an answering machine.
Computer Network: Computer network is a group of two or more computer systems linked
together. It is also said as the interconnection of two or more computer systems using data
communication system or devices. The interconnection of stand-alone of computers using
networking media and devices. There are many types of computer networks, including:

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Local-area networks: The computers are geographically close together that is, in the
same building.
Wireless area networks: The computers are farther apart and are connected by
telephone lines or radio waves.
Campus-area networks: The computers are within a limited geographic area, such as a
campus or military base.
Metropolitan-area networks: A data network designed for a town or city.
Home-area networks: A network contained within a user's home that connects a
person's digital devices.
Value Added Network Service (VANS): It is a hosted service offering that acts as an
intermediary between business partners sharing standards based data via shared Business
Processes. It is also a private network used by a company primarily for routing, storing and
delivering electronic data interchange (EDI) messages. Value added networks operated by large
companies for efficient supply chain management with their suppliers, industry consortiums and
telecom providers.
Tele-Conferencing and Video: It is a set of telecommunication technologies where two or more
locations communicate by simultaneous two-way video and audio transmissions. It is also known
as visual collaboration.
Facsimile Transmission (FAX): Fax is the telephonic transmission of scanned printed material
both text and images, normally to a telephone number connected to a printer or other output
device. The original document is scanned with a fax machine or a telecopier, which processes the
contents text or images as a single fixed graphic image, converting it into a bitmap, and then
transmitting it through the telephone system Rouse, Margaret (2006).

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Electronic Data Interchange: It is simply said as computer-to-computer exchange of business
documents in a standard electronic format among business partners. Therefore by moving from a
paper-based exchange of business document to one that is electronic, businesses enjoy major
benefits such as reduced cost, increased processing speed, reduced errors and improved
relationships with business partners.
Electronic Fund Transfer: It enables bank to transfer funds from one bank to another within
and outside the bank. You can use electronic fund transfer to:
i. Have your paycheck deposited directly into your bank or credit union checking
account.
ii. Withdraw money from your checking account from an ATM machine with a
personal identification number (PIN), at your convenience, day or night.
iii. Instruct your bank or credit union to automatically pay certain monthly bills from
your account, such as your auto loan or your mortgage payment.
iv. To purchase groceries, gasoline and other purchases at the point-of-sale, using a
check card rather than cash.
Internet Security: It is provided to existing and potential customers of a commercial bank to
protect privacy and security of customer or clients while visiting and transacting business with
the bank on the internet.
Electronic Banking: Banking and customers‟ access to financial services has transcended
traditional retail banking with local branches to branch networks,, internet banking, home
banking, mobile banking, to mention a few. The emerging electronic and wireless technologies

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have enabled the banks to carve a niche for themselves among Ayo (2009). Electronic Banking
services include the following:
Electronic Mail: is an electronic means of sending and receiving mails. Its application is popular
within a network environment or through the internet. Therefore with a network of systems, a
note, letter, report, and chart can be sent from office to another within the company.
Credit Card: is the payment system that involves no account debit at the end of each
transaction.
Electronic and Mobile Payment System: Electronic payment system that works in conjunction
with electronic commerce, while Mobile payment system is used by mobile commerce.
Personal Computer Banking (PC): allows the bank‟s customers to access information. The
increasing awareness of the importance of computer literacy has resulted in increasing the use of
personal computers. This certainly supports the growth of PC banking which virtually establishes
a branch in the customers‟ home or office, and offers 24-hour service, seven days a week. It also
has the benefits of Telephone Banking and ATMs.
Internet Banking: is a form of banking transaction carried out on the internet. There must be
internet access and transaction is through a personal computer.
Online Banking: is a synonym to internet banking but predominantly used to reference banking
automation as against manual operations.
Mobile Banking: has brought about ease, convenience, privacy and security of online banking
through mobile devices that neatly fit into one‟s purse or pocket based on SMS facility.
2.2 THEORETICAL FRAMEWORK

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2.2.1 TECHNOLOGICAL REVOLUTIONS, INFORMATION AND GROWTH
Although tremendous technological advances took place over the past 100 years in several
sectors, such as transport, communications, electrification and medicine, recent ones are much
more comprehensive and powerful. Their salient characteristics involve convergence and
interaction of many strands of technological change, with social consequences far more profound
and far more difficult to foresee. They fall into three basic categories or strings of technical
changes: in materials, in biotechnology and in information (Hallberg and Bond, 2000).
Research has discovered many new, innovative materials.Transport enjoys lighter materials for
fuel efficiency; health care takes advantage of dynamic images and intelligent prosthetics; and
the energy sector benefits from many new materials as well. The banking business is becoming
highly information technology based due to its inter-sectoral link; as it appears to be reaping
from most of the benefits of revolution in technology, as it is seen by its application to almost all
areas of its activities (Akinuli, 1999). Technology has broadened bankingand as a result of this it
has changed the nature of banking in competitive environment in which they operate or
domiciled. A wide opening has therefore been experienced around the world for banks and they
are currently taking due advantage of these innovations to provide improved customer services in
the face of competition and faster services that enhance productivity (Akinuli, 1999;
Ovia,2005).Technological advancement facilitates payments and creates convenient alternatives
to cash and cheque for making transactions. Such new practices have led to the development of a
truly global, seamless and Internet enabled 24-hour business of banking.
Technological advance in payments are important due to the fact that it will be feasible to
outsource quite a number of the banks role in the payments system. Also banks regulation can be
more technologically dependent and better focused rather than focusing on conceptual

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guidelines. ICT revolution both in terms of innovation rate, speedy operation, and cost per unit
(portraying reduction in average total and marginal costs) has made a good number of banks
embrace the use of ICT infrastructure in their operations (Akinuli, 1999).
In today‟s business, competition, deregulation and globalization have compelled Banks to offer
service 24 hours around the globe, whereas the significance drawback, on the other hand, lies in
its inconvenience and security factors.However, both these factors have a significant and
profound impact on banks performance and customer service deliver. The relationship that
revolves between ICT expenditures, banks performance delivery is conditional upon the extent
of network effects. If the networks are low, ICT is likely to:
i. Reduce payroll expenses.
ii. Increase market share.
iii. Increase revenue and profit.
Furthermore, in a broader perspective, ICT, deregulation and globalization in the banking
industry could reduce the income streams of banks and thus the strategic responses of the banks,
particularly the trend towards internal cost cutting, mergers and accusations are likely to change
the dynamics of the banking industry. This chapter seeks to determine if banks have earned
higher income and delivered a high quality service than in traditional way. The main issues that
can prevent consumers positively include the convenience aspect of the service, ease of use and
its compatibility with their lifestyle.
2.2.2 CONTIGENCY THEORY
Contingency theory suggests that an information system should be designed in a flexible manner
so as to consider the environment and organizational structure confronting an organization.

25
Information systems also need to be adapting to the specific decisions being considered. In other
words, information systems need to be designed within an adaptive framework.Review of
accounting information system literature also indicate that most AIS studies have incorporated
contingency factors such as organizational structure, business strategy, and environmental
condition in their research model but have neglected the influence of IT on AIS design.
Furthermore, the few studies that have examined the relationship between AIS design and IT
have defined IT in a narrow perspective (Ismail, 2004). Similar to IT researches, these studies
viewed IT from the technological perspective only but failed to incorporate other perspectives of
IT sophistication such as informational, functional and managerial. Hunton and Flowers (1997)
suggested that a more comprehensive AIS study is needed to explain the relationship between IT
and accounting and its subsequent impact on organization in general and accounting/accountants
in particular.Furthermore, most of previous IT/AIS studies were conducted in developed
countries (Ismail and King, 2005). Very few of such studies have been carried out in developing
countries especially in the Middle East. Due to the continuous flow of considerable amount of
empirical studies which investigate the contingency factors and accounting and/or IS and
indicates the importance and vitality of this theory, this study is theoretically and empirically
constituted upon contingency theory which has long been applied in both accounting and
information system disciplines.The contingency theory suggests that an organization's structure
is based on contextual factors such as environmental conditions, business strategy, organizational
structure, production technology, and management style (Ismail and King, 2005).
2.2.3 BUSINESS MODELS, COMMERCE AND MARKET STRUCTURE
The major way in which information technology is affecting work in today‟s organization is by
reducing the importance of distance. In industries, the geographic distribution of work duty is

26
changing significantly. Therefore for instance, some software firms have found out that they can
actually overcome the tight local market for software engineers in sending projects to India or
other nations of the world where the wages are reduced. Furthermore, this type of arrangements
can take advantage of the time differences so that critical projects can be worked on. Firms today
can outsource their manufacturing to other nations of the world and rely mostly on
telecommunications to keep marketing and distribution teams in close contact with the
manufacturing company.
Information technology can enable a finer division in terms oflabour among countries, which in
turn affects the demand for various skills in each nation. Technology enables various types of
work and employment to be decoupled with one another. Firms have more freedom to locate
their economic activities, labour, capital, creating greater competition among regions in
infrastructure, and other resource markets. It also opens opportunity for regulatory arbitrage:
firms can increasingly choose which tax authority and other regulations they want or intend to
adopt. An infrastructure of computing and communication technology, providing 24-hour access
at low cost to almost any kind of price and product information desired by buyers, will reduce
the informational barriers to efficient market operation.
2.2.4 THE ERA OF MODERN BANKING IN NIGERIA
Nigerian banks especially the new generation banks, have realized the imperative of good and
prompt services. Some customers lost their deposits in the erstwhile technically-
insolvent/distressed banks, customers have now become wiser, more discerning, alert and
sophisticated with regards to choosing where it is safe to put their money, and also where they
will be served promptly. Thus, they have started looking at the level of service and
professionalism of the banks before depositing their funds. Proximity to the bank is no longer the

27
issue: safety and the level of service, with regard to the quality, efficiency and speed have
become the major imperative. The banks have realized that the way they can provide quality
service is through the use of modern technology.
Hence, there is a growing need for adoption of new technologies in the Nigerian banking
operations. The new generation banks make use of technology to provide efficient, online and
real-time services. This therefore means that their customers can, for the first time in the history
of banking in the country will go to any part of the country where there is a branch of their bank
and make withdrawals or conduct an increasing range of other banking business. Before the new
era of banking in Nigeria, the banking industry was characterized by inefficiency and truly
frustrating service.
But today, most banks in Nigeria compete mainly via the use of technology on the amount of
time it takes to services their customers. Services in the new generation banks now take up to 2-5
minutes to complete, as opposed to hours of queuing in an unfriendly and uncontrolling
environments. As a result of this banking operation in Nigeria has become computer based
delivery systems; the new generation banks have become very profitable. They have introduced
integrated banking systems, using WANs. Thus their customers do not need to carry cash for
long distances.
2.3 EMPIRICAL FRAMEWORK
2.3.1 THE GROWING NEED FOR INFORMATION TECHNOLOGY
According to Thong (1999), attempted to consolidate the myriad of information technology
adoption research by developing an integrated model of information systems adoption.In the last
decade, the force of information technology (IT) has transformed the business environment. We
are in the midst of a paradigm shift from the industrial paradigm of wealth creation to the

28
information paradigm of wealth creation; and technology is the driving force behind these
changes (Elliot, 1992). During this same time period, the field of accounting has undergone an
extraordinary transformation relative to its use of Information Technology in commercial
banking operation. Information Technology has increased our ability to capture, store, analyze,
and process tremendous amounts of data, increased our ability to change business processes, and
has significantly impacted the control process.
The American Institute of Certified Public Accountants (AICPA) has recognized the growing
importance of Information Technology. The AICPA created the top 10 technologies process and
the Information Technology member section in the late 1980s and early 1990s. Furthermore, the
AICPA created the Certified Information Technology Professional (CITP) designation, which is
a CPA who is credentialed as a technology professional and recognized for his or her unique
ability to bridge the gaps between business and technology. The Institute of Management
Accountants (IMA) also recognized the growing importance of information technology. In 1990,
the IMA warned that accountants in banks who stay on the traditional accounting turf risk being
overtaken by computer experts (Seigel and Sorensen, 1999).
According to Ahamadkaleem, (2008),opined that bankers in Pakistan perceive electronic banking
as a tool for minimizing inconvenience, reducing transaction costs and saving time. Similarly,
they believe that electronic banking increases the chances of government access to public data,
increases the chances of fraud and that there is lack of information security. Madueme(2010),
researched on evaluating banking productivity and ICT using Translogproduction function in
Nigeria, the results showed that bank output such as loans and other assets increased
significantly to charges in expenditure on Information communication technology.

29
IT labor expenses impacted more on bank output more than capital expenditure on ICT gadgets.
The study recommended on the need to increase investments in information technology in order
to increase productivity of banks.Advancements in information technology (IT) have enabled
companies to use computers to carry out activities that were previously performed manually.
Accounting systems that were previously performed manually can now be performed with the
help of computers. Therefore, improvements in the information technology have facilitated the
use of management banking procedures. Also advancement in technology has brought about
many changes and competition among banks and non-bank financial institutions which raises
concern as to why some people adopt one distributional channel and others do not. New services
are difficult to evaluate where quality of trustworthiness dominates (Patricio, 2003).
It is important to study the impact of technology based on bankers‟ perceptions and behavior
(Lymperopoulos and Chaniotakis, 2004).IT-based distribution channels reduce personal contact
between the service providers and the customers, which inevitably leads to a complete
transformation of traditional bank customers relationships (Barnes and Horwlett, 1998).
BRIEF HISTORY OF CASE STUDY
Guaranty Trust Bank plc was incorporated as a limited liability company licensed to provide
commercial and other banking services to the Nigerian public in 1990 and commenced
operations in February 1991, and has since then grown to become one of the most respected and
service focused banks in Nigeria. In September 1996, Guaranty Trust Bank plc became a
publicly quoted company and won the Nigerian Stock Exchange President's Merit award that
same year and subsequently in the years 2000, 2003, 2005, 2006, 2007, 2008 and 2009. In
February 2002, the Bank was granted a universal banking license and later appointed a

30
settlement bank by the Central Bank of Nigeria (CBN) in 2003. Guaranty Trust Bank undertook
its second share offering in 2004 and successfully raised over N11 billion from Nigerian
Investors to expand its operations and favorably compete with other global financial institutions.
This development ensured the Bank was satisfactorily poised to meet the N25 billion minimum
capital base for banks introduced by the Central Bank of Nigeria in 2005, as part of the
regulating body's efforts to sanitize and strengthen Nigerian banks. Post-consolidation, Guaranty
Trust Bank plc made a strategic decision to actively pursue retail banking. A major rebranding
exercise followed in June 2005, which saw the Bank emerge with improved service offerings, an
aggressive expansion strategy and its vibrant orange identity. In 2007, the Bank entered the
history books as the first Nigerian financial Institution to undertake a US$350 million regulation
S Eurobond issue and a US$750 million Global Depositary Receipts (GDR) Offer. The listing of
the GDRs on the London Stock Exchange in July that year made the Bank the first Nigerian
Company and African Bank to be listed on the main market of the London Stock Exchange.
In December 2009, Guaranty Trust Bank successfully completed the first tranche of its $200
million corporate bond targeted at increasing the depth of its operations in West Africa and
Europe in the next couple of years. Guaranty Trust Bank Plc was incorporated as a limited
liability company licensed to provide commercial and other banking services to the Nigerian
public in 1990 and started operations in February 1991, since then it has grown to become one of
the most respected and service focused banks in Nigeria. In September 1996, Guaranty Trust
Bank plc became a publicly quoted company and won the Nigerian Stock Exchange President's
Merit award that same year and subsequently in year 2000, 2003, 2005, 2006, 2007, 2008 and
2009 respectively. In February 2002, the Bank was granted a universal banking license and later
appointed a settlement bank by the Central Bank of Nigeria (CBN) in 2003.

31
Guaranty Trust Bank Plc started its second share offering in 2004 and successfully raised over
N11 billion from investors in Nigeria in order to enable expand its operations and favorably
compete with other global financial institutions. Due to innovation and creativity of Guaranty
Trust Bank Plc, they offer varieties of product and services to their customers; this has led to the
achievement of awards by the bank for their outstanding innovation in information technology in
their banking operations. Some of their products includes: Domiciliary Account, Account
Aggregation Services, Guaranty Trust Bank Automated Payment System, Guaranty Trust Bank
Electronic Notification System, Non Resident Nigerian Service, ATM (Automatic Teller
Machine), Electronic Branches, Mobile Money, Airline Ticket Payment.Guaranty Trust Bank Plc
is a leading commercial bank in Nigeria that has keyed into the new Central Bank of Nigeria
cash-less Lagos initiative.
CHAPTER THREE
RESEARCH METHOD
3.0 INTRODUCTION
Research method isasystematic process of collecting,presenting,analysing and interpreting data
for the purpose of arriving at dependable Solutions to human problems.Methodology is therefore
concerned with the study of the resarch methods in a research of this nature,it is necessary to
define the research design,area of the study,population of the study,sample size and sample size
determination instrument for data collection,validation of instrument,reliability of research
instrument.
3.1 RE-STATEMENT OF HYPOTHESIS
To achieve the objectives stated in this study, the following hypothesis were formulated.

32
Hypothesis 1:
commercial banks.
banks.
Hypothesis Two:
their duties.
duties.
3.2 RESEARCH DESIGN
According to (Asika, 1991), Research design means the structuring of investigation aimed at
identifying variables and their relationships to one another. A research design is very useful as it
helps the researcher to develop a mental image of the structure for gathering the data and the
analysis that will follow. The research study set out to assess the impact of information
technology on commercial banks in Nigeria and to provide vital information in order to extract
the sincere perception of the bank customers and staffs in Nigeria with regards to the position
and role of information technology in commercial banks in Nigeria.
The purpose of this research is a random sampling technique of a bank that has been selected, the
population and sample size of this project is based on one bank in Nigeria, that is Guaranty Trust
Bank Plc which will be adopted for the questionnaire both to the employer (bankers) and

33
customers of the selected banks. This research work will examine the impact of information
technology in commercial banks in Nigeria.The method employed to examine the impact of
information technology on commercial banks in Nigeria shall be the survey method. Data
collected from the questionnaire shall be presented using with the aid of manual and electronic
application such as the Statistical Packages for Social Sciences (SPSS), while the hypotheses
would be tested using the T-test statistical method and linear regression method.
3.3 POPULATION OF THE STUDY AND SAMPLING SIZE
Population refers to the total number of cases in the focus of interest. The population of this
research work will focus mainly on Guaranty Trust Bank Plc in Nigeria. The sample size used
for this research work consists of one bank, which is Guaranty Trust Bank Plc. This bank was
selected based on its oriented technology driven state, profitability, large capital base and reliable
network of branches both (branch and e-branch) in Lagos, Nigeria. A total of hundred (100)
questionnaires were issued to both customers and staffs of Guaranty Trust Bank Plc.
3.4 OPERATIONALIZATION OF THE RESEARCH TOPIC
Operationalization of the research topic is to identify the variables involved in this project that is
the dependent variables and the independent variables. Therefore, these variables are classified
into two namely: The dependent and the independent variable. Y is the dependent variable which
has to do with the (effect), while X is the independent variable which has to do with (cause). In
other words, X is the cause variable while Y is the effect variable. Therefore, to relate
operationalization to the research topic. Commercial bank is the cause, while impact of
information technology is the effect of operationalization in this research.
3.5 SAMPLING TECHNIQUE

34
Data for this project will be collected, using a non-probability sampling method. Here the
sampling selection is based on the subjective choice of the researcher as to which elements best
provide desired basis and probability of good outcome.
3.6 DATA GATHERING METHOD
3.6.1 SOURCES OF DATA
The sources of data for a research work is grouped into two, namely;
Primary sources
Secondary sources
But for this research project, the primary data shall be the basis of this research wok. The data
shall be generated by means of a structured questionnaire instrument.
The questionnaire shall be divided into two sections; the first section shall collect the personal
data of the respondents while the second section shall focus on the subject matter of the study.
The questionnaire to be used shall be self-administered and a total of one hundred (100) to bank
staffs for the purpose of this study. The sampling shall be done randomly such that the
respondents shall cut across various departments and levels.
3.6.2 INSTRUMENTS OF DATA COLLECTION
The research instruments being the questionnaires will be administered by the researcher and a
face to face approach will be adopted in the process of administering the questionnaires. This
instrument was drafted by the researcher; howbeit the supervisor of this study reviewed and

35
acknowledged it before implementation exercise to ensure that the questionnaire was structured
in order to be appropriate for the study.
3.6.3 DESCRIPTION OF QUESTIONNAIRE
The data collection instrument to be used shall be a well-structured questionnaire and it would be
administered by the respondent. The questionnaire shall contain twenty (22) items divided into
two sections.
The first sections shall focus on questions on the personal information of the respondents while
the second section shall be devoted to the questions that relate to the subject matter based on the
research questions that were stated earlier.
The questionnaire would be as simple as possible so that the respondents could supply the
appropriate answer to each question.
3.6.4 VALIDITY AND RELIABILITY OF INSTRUMENTS
Validity refers to the degree with which a research instrument measures what it purports to
measure as well as the population it is intended for. It refers to the truthfulness of the instrument
and population of study. It implies that it should measure the characteristics it is intended to
measure. The validity test used in this research is content (face) validity. Content validity is the
extent to which the instrument measures the overall appearance and subject matter in line with
the set of objectives of the study. In other words, the items set or statements made should reflect
the purpose of the envisaged problem of the research study (objectives). In carrying out the test,
expert opinion was obtained from my project Supervisor in evaluating the relevance of the items
to the characteristics being measured.

36
Reliability on the other hand is the degree of stability of the measure of variables or research
instruments. A test is said to be reliable if it measures the same variable at different times to the
same set of respondents and results which are consistently similar. The test retest method
involves measuring the reliability of the test twice to the same individual sample at different
times. Thus the two scores obtained from the test are gathered together and correlated so as to
determine the relationship that exist between the first test score and the retest score.
How be it in ensuring that the validity of the research instrument is established, the content
validity and construct validity were implemented such that the statement and questions were
hypothetical in nature so that it measure exactly what it intends to measures. In establishing the
reliability, the following was implemented: the questionnaire item were placed on a scale of (SA)
strongly agree, (A) agree, (N) neutral, (D) disagree, (SD) strongly disagree.
3.7ACTUAL FIELD WORK
The questionnaires were administered by the researcher in person. A face-to-face approach was
adopted by the researcher in disseminating the questionnaires. This approach was adopted in
order to monitor the data collection and to ensure that data supplied or response are of high
quality.
3.8 METHOD OF DATA PRESENTATION, ANALYSIS AND INTERPRETATION
Data presentation gives a good description into the entire research work. It focuses on the
statistical instruments used, since variables are involved in this research work, the data collected
will be converted into normal or ordinal figures by the application of predetermined weighting
on them. This is because data that are collected are presented in forms that would enable them to

37
be easily analyzed in terms of interpretation. The method of presentation addresses how the data
collected are disclosed to the public and presented to aid analysis
The researcher presented the data obtained via the questionnaire with the use of descriptive
statistics comprising the sample percentage and tables, and pie chart presentation for adequate
understanding of the data. The adoption of data presentation that will be used for this research
work is the T-test method, because we want to know how information technology has been able
to impact more on the services operation provided by commercial banks in Nigeria.
The data collected were sorted out into different categories of rows and columns, displaying facts
and figures. For proper analysis however, only the data in direct relation with the hypothesis
formulated were considered.Statistical Package for Social Sciences (SPSS) version 15.0 will
beused in analyzing the data collected.This package was used to aid the analysis of the collected
data for the study.
In other to analyze and interpret appropriately the responses from the respondent, the parametric
and non-parametric tools were used. It shall be tested using the t-test statistical method and linear
regression.
3.9 INSTRUMENT OF DATA ANALYSIS
The responses to the questions on the questionnaire shall be analyzed using the T-test and linear
regression method of analyzing data with the aid of manual and electronic application such as the
Statistical Packages for Social Sciences (SPSS). SPSS is an integrated system of computer
programs specifically conceived and designed for the analysis of social and behavioral science
research data and information.

38
CHAPTER FOUR
DATA ANALYSIS, PRESENTATION AND INTERPRETATION
4.0 INTRODUCTION
This research work is primarily interested in ascertaining the role of information technology on
commercial banks in Nigeria. This chapter covers the presentation, analysis and interpretation of
data collected from primary sources. The data here are the replies collated from questions laid
out in the questionnaires distributed to the respondents. In other to present the data analyze the
data collated through questionnaires; all questions in the questionnaire were analyzed including
the ones with close relationship with the research questions, objectives as well as hypothesis,
through the Software Package for Social Science (SPSS) after which the results were interpreted.

39
The hypothesis testing was conducted using the T-test, appropriate interpretation discussion were
made there on according to the result of the testing.
4.1 PRESENTATION AND ANALYSIS OF DATA COLLECTED
Out of 100 questionnaires, 94 were returned from the respondents. This gives a response of 94%.
This was a good result as a result of follow up and the non-retrievable questionnaires were as a
result of the negligence of bank staffs and customers to fill their received questionnaire.
4.2 DATA PRESENTATION-PRELIMINARY
Table 4.1.1 Rate of Response by Respondents
Questionnaire Respondents Valid Percentage (%)
Returned 94 94
Not Returned 6 6
Total 100 100
Source: Field Survey (2014)
Table 4.1.1 A total number of 100 questionnaires were distributed and 94 of these questionnaires
were returned, showing average return rate 94% questionnaires. The amount retrieved thus
represents about 94% of total questionnaire administered, and is a reasonable level upon which

40
research can be based and valid conclusions drawn from the research.
SECTION A – Personal Bio-data
Table 4.1.2 Sex of Respondent
Gender
Frequency Percent Valid Percent
Cumulative
Percent
Valid MALE 58 61.7 61.7 61.7
FEMALE 36 38.3 38.3 100.0
Total 94 100.0 100.0
Source: Field Survey, (2014)
Table 4.1.2, shows that 58 out of the total of 94 respondents were males, representing
approximately 61.7% of the entire sample size, while 36 were females, representing
approximately 38.3% of the sample size.
Table 4.1.3 Age group of Respondent
Age Group
Cumulative
Percent
Valid 21-30 YEARS 68 72.3 72.3 72.3
31-40 YEARS 12 12.8 12.8 85.1
41-50 YEARS 10 10.6 10.6 95.7
51-60 YEARS 4 4.3 4.3 100.0
Total 94 100.0 100.0
Table 4.1.3, it can be deduced that out of the 94 respondents, 68 were between 21-30 years
representing (72.3%), 12 were between the ages of 31-40 years representing (12.8%), 10 were
between the ages of 41-50 years representing (10.6%), and 4 were between the ages of 51-60
years representing (4.3%).

41
Table 4.1.4 Marital status of Respondent
Marital status
Cumulative
Percent
Valid SINGLE 66 70.2 70.2 70.2
MARRIED 24 25.5 25.5 95.7
DIVORCED 4 4.3 4.3 100.0
Total 94 100.0 100.0
Table 4.2.3, it can be deduced that 66 respondent are single representing (70.2%), 24 respondents
are married representing (25.5%), 4 were married representing (4.3%).
Table 4.1.5 Academic Qualification of Respondents
Education
Cumulative
Percent
Valid SSCE/GCE/O LEVEL 22 23.4 23.4 23.4
OND/NCE 26 27.7 27.7 51.1
HND/B.SC 40 42.6 42.6 93.6
MBA/MSC 2 2.1 2.1 95.7
PHD
4 4.3 4.3 100.0
Total 94 100.0 100.0
Table 4.1.5, it can be deduced that out of the 94 respondents, 22 of the respondents have only
SSCE/GCE/O LEVEL representing (23.4%) of the total respondents‟ population, 26 of the
respondents have only OND/NCE representing (27.7%), 40 of the respondents have only

42
HND/BSC representing (42.6%), 2 of the respondents have only MBA/MSC representing
(2.1%), 4 of the respondents have only PHD representing (4.3%).
SECTION B- Hypothetical Questions
Table 4.1.6
Information technology and computer have really helped impacted banks operation
positively.
Cumulative
Percent
Valid STRONGLY AGREE 76 80.9 80.9 80.9
AGREE 14 14.9 14.9 95.7
NEUTRAL 2 2.1 2.1 97.9
DISAGREE 2 2.1 2.1 100.0
Total 94 100.0 100.0
Table 4.1.6, it can be deduced that out of the 94 respondents, 90 of the respondents agreed that
information technology and computer have really impacted banks positively representing
(95.8%), 2 of the respondent were neutral representing (2.1%), and 2 of the respondents disagree
representing (2.1%).
Table 4.1.7
I do not think information technology has impacted banks performance in any aspect.
Cumulative
Percent
AGREE 6 6.4 6.4 10.6
NEUTRAL 4 4.3 4.3 14.9
DISAGREE 44 46.8 46.8 61.7
STRONGLY DISAGREE 36 38.3 38.3 100.0
Total 94 100.0 100.0

43
information technology do not impact banks operation in any aspect representing (10.7%), 4 of
the respondents were neutral representing (4.3%), and 80 of the respondents disagree
Table 4.1.8
I enjoy prompt and efficient service delivery in banks.
Cumulative
Percent
AGREE 56 59.6 59.6 93.6
NEUTRAL 2 2.1 2.1 95.7
DISAGREE 4 4.3 4.3 100.0
Total 94 100.0 100.0
they enjoyed prompt and efficient service delivery by banks representing (93.6%), 2 of the
respondents were neutral representing (2.1%), and 4 of the respondent disagree representing
(4.3%).
Table 4.1.9
We should encourage workers and customers to patronize banks.
Cumulative
Percent
AGREE 50 53.2 53.2 91.5
NEUTRAL 8 8.5 8.5 100.0
Total 94 100.0 100.0

44
we should encourage our colleagues to patronize banks representing (91.5%), and 8 of the
respondent were neutral representing (8.5%).
Table 4.1.10
I effectively receive the details of my transaction through my E-mail.
Cumulative
Percent
AGREE 36 38.3 38.3 66.0
NEUTRAL 20 21.3 21.3 87.2
DISAGREE 6 6.4 6.4 93.6
Total 94 100.0 100.0
they receive the details of their transaction through e-mail representing (66%), 20 of the
respondents were neutral representing (21.3%), and 12 of the respondents disagree representing
(12.8%).
Table 4.1.11
Savings and withdrawing money is time consuming with the bank.
Cumulative
Percent
AGREE 44 46.8 46.8 55.3
NEUTRAL 24 25.5 25.5 80.9
DISAGREE 12 12.8 12.8 93.6
Total 94 100.0 100.0

45
saving and withdrawing money is time consuming with the bank representing (55.3%), 24 of the
(19.2%).
Table 4.1.12
I enjoy prompt and efficient service delivery from the bank's ATM services.
Cumulative
Percent
AGREE 26 27.7 27.7 72.3
NEUTRAL 16 17.0 17.0 89.4
DISAGREE 6 6.4 6.4 95.7
Total 94 100.0 100.0
Table 4.1.12, it can be deduced that out of the 94 respondents, 68of the respondents agreed that
they enjoy prompt and efficient service delivery from bank‟s ATM representing (72.4%), 16 of

46
the respondents were neutral representing (17.0%), and 10 of the respondents disagree
Table 4.1.13
Information technology does not increase prompt and efficient service delivery of the bank.
Cumulative
Percent
AGREE 12 12.8 12.8 27.7
NEUTRAL 4 4.3 4.3 31.9
DISAGREE 32 34.0 34.0 66.0
Total 94 100.0 100.0
information technology does not increase prompt and efficient service delivery of the bank
representing ( 27.7%), 4 of the respondents were neutral representing (4.3%), and 64 of the
respondents disagree representing (68.0%).
Table 4.1.14
I spend less minutes/hours in carrying out transactions in the bank with the use of I.T
Cumulative
Percent
AGREE 48 51.1 51.1 80.9
NEUTRAL 6 6.4 6.4 87.2
DISAGREE 6 6.4 6.4 93.6
Total 94 100.0 100.0

47
they spend less minutes/hours in carrying out transactions in the bank with the use of information
technology representing (80.9%), 6 of the respondents were neutral representing (6.4%), and 12
of the respondents disagree representing (12.8%).
Table 4.1.15
The introduction of I.T has helped bank staffs to work better in a team than before the
introduction of I.T.
Cumulative
Percent
AGREE 42 44.7 44.7 91.5
NEUTRAL 6 6.4 6.4 97.9
DISAGREE 2 2.1 2.1 100.0
Total 94 100.0 100.0
the introduction of information technology has helped bank staffs to work better in a team than
before the introduction representing (91.5%), 6 of the respondents were neutral representing
(6.4%), and 2 of the respondents disagree representing (2.1%).
Table 4.1.16
Banks have provided a better and wider range of banking services since the
Cumulative
Percent
AGREE 46 48.9 48.9 87.2
NEUTRAL 10 10.6 10.6 97.9
DISAGREE 2 2.1 2.1 100.0

48
Banks have provided a better and wider range of banking services since the
Cumulative
Percent
AGREE 46 48.9 48.9 87.2
NEUTRAL 10 10.6 10.6 97.9
DISAGREE 2 2.1 2.1 100.0
Total 94 100.0 100.0
since the introduction of information technology banks have provided a better and wider range of
banking services representing (87.2%), 10 of the respondents were neutral representing (10.6%),
and 2 of the respondents disagree representing (2.1%).
Table 4.1.17
The introduction of I.T in this bank has since attracted more customers to the bank.
Cumulative
Percent
AGREE 48 51.1 51.1 89.4
NEUTRAL 8 8.5 8.5 97.9
Total 94 100.0 100.0
the introduction of information technology in banks has attracted more customers to the bank
representing (89.4%), 8 of the respondents were neutral representing (8.5%), and 2 of the
respondents disagree representing (2.1%).

49
Table 4.1.18
I do think customers are satisfied with the bank services.
Cumulative
Percent
AGREE 56 59.6 59.6 74.5
NEUTRAL 20 21.3 21.3 95.7
DISAGREE 2 2.1 2.1 97.9
Total 94 100.0 100.0
customers are satisfied with the bank services representing (74.5%), 20 of the respondents were
neutral representing (21.3%), and 4 of the respondents disagree representing (4.2%).
Table 4.1.19
Internet banking has reduced banking cost.
Cumulative
Percent
AGREE 42 44.7 44.7 70.2

50
NEUTRAL 12 12.8 12.8 83.0
DISAGREE 14 14.9 14.9 97.9
Total 94 100.0 100.0
internet banking has reduced banking cost representing (70.2%), 12 of the respondents were
neutral representing (12.8%), and 16 of the respondents disagree representing (17%).
Table 4.1.20
Since the introduction of I.T, this bank has become more profitable.
Cumulative
Percent
AGREE 40 42.6 42.6 80.9
NEUTRAL 12 12.8 12.8 93.6
Total 94 100.0 100.0
since the introduction of information technology banks has become more profitable representing
(80.9%), 12 of the respondents were neutral representing (12.8%), and 6 of the respondents
disagree representing (6.4%).
Table 4.1.21
Internet service is adequately reliable in this bank.
Cumulative
Percent
AGREE 42 44.7 44.7 61.7

51
NEUTRAL 26 27.7 27.7 89.4
DISAGREE 10 10.6 10.6 100.0
Total 94 100.0 100.0
internet server is adequately reliable in this bank therefore representing (61.7%), 26 of the
(10.6%).
Table 4.1.22
How frequently have you been delayed in the bank because of computer breakdown
Cumulative
Percent
Valid ONCE 34 36.2 36.2 36.2
TWICE 20 21.3 21.3 57.4
WEEKLY 10 10.6 10.6 68.1
MONTHLY 8 8.5 8.5 76.6
PLEASE SPECIFY 22 23.4 23.4 100.0
Total 94 100.0 100.0
Table 4.1.22, it can be deduced that out of the 94 respondents, 34 of the respondents have been
delayed once in the bank because of computer breakdown representing (36.2%), 20 of the
respondents have been delayed twice in the bank representing (21.3%), 10 of the respondents
have been delayed weekly in the bank representing (10.6%), 8 of the respondents have been
delayed monthly in the bank representing (8.5%), and 22 of the respondent specified the reason
for their delay in the bank representing (23.4%).

52
4.2 DESCRIPTIVE STATISTICS OF BANK OFFICIALS AND CUSTOMERS USING
MEAN AND STANDARD DEVIATION
Descriptive Statistics
N Minimum Maximum Mean Std. Deviation
Information technology and
computer have really helped
impacted banks positively.
94 1.00 4.00 1.2553 .60351

53
I do not think information
technology has impacted
banks operation in any
aspect.
94 1.00 5.00 4.0851 1.03342
I enjoy prompt and efficient
service delivery by banks.
94 1.00 4.00 1.7660 .69446
We should encourage our
colleagues to patronize
banks.
94 1.00 3.00 1.7021 .61922
I effectively receive the
details of my transaction
through my E-mail.
94 1.00 5.00 2.2553 1.12581
Savings and withdrawing
money is time consuming
with the bank. Savings
operation and money
withdrawals from banks are
time-consuming activities.
94 1.00 5.00 2.6170 1.02764
I enjoy prompt and efficient
service delivery from the
bank's ATM services.
94 1.00 5.00 1.9787 1.12621
Information technology does
not increase prompt and
efficient service delivery of
the bank.
94 1.00 5.00 3.5957 1.44668
I spend less minutes/hours in
carrying out transactions in
the bank my with the use of
I.T
94 1.00 5.00 2.0851 1.09407
Valid N (list wise) 94
Descriptive Statistics
N Minimum Maximum Mean Std. Deviation
The introduction of I.T has
helped bank staffs to work
better in a team than before
the introduction of I.T.
94 1.00 4.00 1.6383 .70101

54
This bank has since provided
a better and wider range of
banking services since the
94 1.00 4.00 1.7660 .72476
The introduction of I.T in this
bank has since attracted
more customers to the bank.
94 1.00 5.00 1.7660 .78186
I do think customers are
satisfied with the bank
services.
94 1.00 5.00 2.1702 .78478
Internet banking has reduced
banking cost.
94 1.00 5.00 2.2340 1.06181
Since the introduction of I.T,
this bank has become more
profitable.
94 1.00 5.00 1.9362 1.04530
Internet service is adequately
reliable in this bank.
94 1.00 4.00 2.3191 .88248
How frequently have you
been delayed in the bank
because of computer
breakdown
94 1.00 5.00 2.6170 1.60045
Valid N (list wise) 94
4.3 HYPOTESIS TESTING
In testing Hypothesis 1, The One-Sample T Test compares the mean score of a sample to a
known value. Usually, the known value is a population mean.

55
NULL HYPOTHESIS: The use of information technology does not have a significant effect on
the operation of commercial banks.
ALTERNATIVE HYPOTHESIS: The use of information technology has a significant effect
on the operation of commercial banks.
Table 4.3.1 One Sample T-Statistics
One-Sample Statistics
N Mean Std. Deviation Std. Error Mean
impacted banks operation
positively.
94 1.2553 .60351 .06225
Table 4.3.1 One Sample test
One-Sample Test
Test Value = 0
t df Sig. (2-tailed) Mean Difference
95% Confidence Interval of the
Difference
Lower Upper
positively.
20.167 93 .000 1.25532 1.1317 1.3789
Interpretation
The above question has a calculated value (t-value) of 20.167 and a critical value of
approximately 2.000 at 5% level of significance and degree of freedom of 93.

56
Decision
From the above analysis, the calculated value is above the tabulated value, therefore the null
hypothesis (H0) should be rejected in favor of the alternative hypothesis (H1) accepted. Also, the
two tail significance level which is 0.00 is less than 0.05 which is the level of significance;
therefore the null hypothesis should be rejected. Hence, the use of information technology has a
significant effect on the operation of commercial banks in Nigeria.
In testing Hypothesis 2, The One-Sample T Test compares the mean score of a sample to a
known value. Usually, the known value is a population mean.
NULL HYPOTHESIS: Information technology devices do not help bank staffs effectively on
the performance of their duties.
ALTERNATIVE HYPOTHESIS: Information technology device has helped bank staffs
effectively on the performance of their duties.
Table 4.3.2 One Sample T-Statistics
One-Sample Statistics
N Mean Std. Deviation Std. Error Mean
banks performance in any
aspect.
94 4.0851 1.03342 .10659
Table 4.4.2 One Sample test
One-Sample Test
Test Value = 0

57
T Df Sig. (2-tailed) Mean Difference
95% Confidence Interval of the
Difference
Lower Upper
banks performance in any
aspect.
38.326 93 .000 4.08511 3.8734 4.2968
Interpretation
The above question has a calculated value (t-value) of 38.326 and a critical value of
approximately 2.000 at 5% level of significance and degree of freedom of 93.
Decision: From the above analysis, the calculated value is above the tabulated value, therefore
the null hypothesis (H0) should be rejected in favor of the alternative hypothesis (H1) accepted.
Also, the two tail significance level which is 0.00 is less than 0.05 which is the level of
significance; therefore the null hypothesis should be rejected. Hence, information technology
device has helped bank staffs effectively on the performance of their duties.
Table 4.3.3
Using Anova
Hypothesis 1:
commercial banks.
banks.
Model Summary

58
Model R R Square
Adjusted R
Square
Std. Error of the
Estimate
1 .342
a
.117 .107 1.00318
a. Predictors: (Constant), Information technology and computer have
really helped impacted banks operation positively.
ANOVA
b
Model Sum of Squares Df Mean Square F Sig.
1 Regression 12.266 1 12.266 12.188 .001
a
Residual 92.585 92 1.006
Total 104.851 93
a. Predictors: (Constant), Information technology and computer have really helped impacted
banks operation positively.
b. Dependent Variable: Internet banking has reduced banking cost.
Interpretation of Results
The results from the model summary table above revealed that the extent to which the variance
in operation of commercial banks can be explained by the model that is 11.7% i.e (R square =
0.117). The ANOVA table shows the F-calculated value to be 12.188 at 0.001 significance level.
The implication is that the use of information technology has a significant effect on the operation
of commercial banks.
Coefficients
a
Model
Unstandardized Coefficients
Standardized
Coefficients
t Sig.B Std. Error Beta
1 (Constant) 1.479 .240 6.165 .000

59
positively.
.602 .172 .342 3.491 .001
a. Dependent Variable: Internet banking has reduced banking cost.
The coefficient table above shows the simple model that expresses the extent to which
information technology affects the operation of commercial banks. The model is shown
mathematically as follows; Y = a+bx where y is the operation of commercial banks and x is
information technology, „a‟ is a constant factor and b is the value of coefficient. From this table
therefore, COP = 1.479 +0.602 Information technology. This means that for every 100% change
in operations of commercial banks, information technology is responsible for 60.2% of the
change.
Decision
The significance level is 0.000 and is less than 0.05, thus we accept the alternative hypothesis
and reject the null hypothesis. This implies that information technology has a significant effect
on the operation of commercial banks.
Table: 4.3.4
Using Anova
Hypothesis Two:
their duties.
duties.
Model Summary

60
Model R R Square
Adjusted R
Square
Std. Error of the
Estimate
1 .416
a
.173 .164 .95570
a. Predictors: (Constant), I effectively receive the details of my
transaction through my E-mail.
ANOVA
b
Model Sum of Squares Df Mean Square F Sig.
1 Regression 17.588 1 17.588 19.257 .000
a
Residual 84.029 92 .913
Total 101.617 93
a. Predictors: (Constant), I effectively receive the details of my transaction through my E-mail.
b. Dependent Variable: Since the introduction of I.T, this bank has become more profitable.
Interpretation of Results
The results from the model summary table above revealed that the extent to which the variance
in performance of bank staffs in carrying out their duties can be explained by the model that is
17.3% i.e (R square = 0.173). The ANOVA table shows the F-calculated value to be 19.257 at
0.000 significance level. The implication is that information technology device has helped bank
staffs effectively in the performance of their duties.
Coefficients
a
Model Unstandardized Coefficients
Standardized
Coefficients t Sig.

61
B Std. Error Beta
1 (Constant) 1.065 .222 4.805 .000
I effectively receive the
details of my transaction
through my E-mail.
.386 .088 .416 4.388 .000
a. Dependent Variable: Since the introduction of I.T, this bank has become more profitable.
The coefficient table above shows the simple model that expresses the extent to which
information technology has helped bank staffs effectively in the performance of their duties. The
model is shown mathematically as follows; Y = a+bx where y is the performance of bank staffs
and x is information technology, „a‟ is a constant factor and b is the value of coefficient. From
this table therefore, COP = 1.065+0.386 Information technology. This means that for every
100% change in the performance of bank staffs, information technology is responsible for 38.6%
of the change.
Decision
The significance level is 0.000 and is less than 0.05, thus we accept the alternative hypothesis
and reject the null hypothesis. This implies that information technology device has helped bank
staffs effectively in the performance of their duties.
CHAPTER FIVE

62
SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.0 INTRODUCTION
This study examined„„impact of information technology on commercial banks performance in
Nigeria‟‟a case study of selected banks. In the previous chapters of this study, different
assumptions, statements and generalizations have been made to examine this impact.
5.1 SUMMARY OF WORK
Chapter one serves as introduction of the whole study, it shows the purpose of the work, the
scope, research question, hypothesis and limitation of the study. The study equally showed a
review of literature that had been done by scholars and researchers in the area of inquiry in
chapter two. The research methodology employed in this study is seen in chapter three. It
explained the research design and sampling technique, method of data collection, research
instrument, method of data presentation and analysis, validity and reliability of instruments.
The chapter four of this study entails the data analysis of the data collated through primary
sources only during the field work. Guaranty Trust Bank Plc was selected to form the case study
of this research work. The questionnaires were served to both bank officials and customers of the
bank. In this chapter therefore, the researcher aimed at giving a summary of the finding of both
the literature and after which analysis carried out in chapter four, using the questionnaires
distributed. Conclusions are made and some useful recommendations given.
5.2 RESEARCH FINDINGS

63
Going through the administered questionnaire thoroughly, we find out that information
technology has introduced better infrastructure and techniques that satisfies both the employees
and the customers. The employees no longer have to deal with bulky paper which is very
exhausting and the customers can now make enquires on the account and make withdrawals
without direct over the counter contact via the use of the automated teller machine (ATM).
5.2.1 EMPIRICAL FINDINGS
The majority of the bank customers enjoy efficient and prompt service delivery by banks,
because they can perform many transactions without having to visit the bank physically, and this
is done via the use of information technology (IT) into banking operations. With the use of
technology internet banking and other components of I.T has therefore brought about ease and
convience to effectively make financial transactions by customers (See Table 4.2.8).
Even with the intervention of information technology on banking services in Nigeria, the
customer service of the bank haven‟t been found to be as effective without visiting the bank
physically. I guess this is one of the reasons why customers still visit the banks today physically
to be properly attended to (See Table 4.2.17).
The adoption of information technology by banks in Nigeria has brought about enormous change
in the bank with a better and wider range of banking services since the introduction of
information technology. (See Table 4.2.16).
Since the introduction of information technology by banks in Nigeria, banks have reduced their
banking cost and they have become more profitable. (See Table 4.2.20).

64
Bank customers have been delayed in the bank, because of computer break down or as a result of
slow internet during banking operations, therefore most customers of the bank has been delayed
once at the bank (See Table 4.2.22).
Finally, from the hypothesis tested, it can be concluded that;
i. Information technology enhances banks performance and operational efficiency.
ii. Information technology has reduced banking cost.
iii. Adoption of information technology by banks has made customers enjoy ease, smooth
and convenient way of banking.
iv. The use of information technology by banks has brought about profitability to the bank.
5.3 CONCLUSION
From our research we can say information technology has a positive impact on the image,
goodwill and growth of commercial banks in Nigeria. Customer satisfaction is of a paramount
importance to the achievement of organizational goals. It has geometrically increased the rate of
patronage as a result of the supply of redefined products and services to meet the needs and
demand of the public. Information technology has also helped to reduce the rate of fraud in the
banking system. Present day banking activities are computerized and not manual, making it
difficult to make any alterations; such actions can easily be traced and corrective measure taken.
Information technology has also provided better and well-grounded infrastructure to speed up
transaction, increase consistency and enhance banks operation.

65
Banks have been able to derive benefits from information technology, electronic banking and
service delivery in the area of improved efficiency and effectiveness of their operations so that
more transactions can be processed faster and most conveniently, which will undoubtly impact
significantly on the overall performance of the banks. The customer on the other hand, stand to
enjoy the benefit of quick service delivery, reduced frequency of going to the banks physically
and reduced cash handling, which will give rise to higher volume of turnover.
5.4 RECOMMENDATIONS
The impact of information technology on commercial banks performance has been broadly
discussed in the previous chapters. However, it is only appropriate to make certain
recommendations that may be useful to the enhancement of this purpose.
i. Information technology should be fully funded and receive unconditional support from
the management. Financial constraints are part of the problems that limit the
effectiveness of information technology in the banking industry.
ii. Proper enlightment programs and mediums should be put in place to enhance
communication between the institution and their customer. This will ease the flow of
information hereby keeping customers current and updated.
iii. Committee should be setup to monitor the implementation of information technology in
the banking industry. These should be periodic reviewer of the planning techniques to
ensure they suit the objectives of the organization.
iv. Priotize the customer before the technology. It is important to first and foremost identify
the needs of the customer before introducing technology. The technique chosen must be
relevant to the total corporate objective so as to avoid stagnation or loss.

66
v. Generators in banks should be run on stand-by to avoid disruption in the flow of
electricity which can slow down the rate of operations. This is because most information
technology innovations need electricity to function.
5.4.1 SUGGESTIONS FOR FUTURE STUDIES
Area suggested for further research include the following.
i. The impact of information technology on banking operations.
ii. The effect of information technology on bank profitability.
iii. The level on increase in the performance of commercial banks via the use of information
technology.

67
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