Problems and prospects abstract this research work is an attempt to analyse and find out the problem and prospects of eletronic banking in nigeria. Not everyone enjoys the luxury of having a stable and fast internet connection at home. Electronic banking terms and conditions standard chartered. Post merger and acquisition and performance of deposit. The research also explained the services and the featu. Mergers and acquisitions are the important process in the banking industry. You and each authorised person must be at least 18 years of age to use electronic banking services. Electronic banking in nigeria challenges and prospects a case study of first bank plc, largest undergraduate projects repository, research works and materials.
Effect of mergers and acquisitions on banking sector performance in nigeria okoye, lawrence uchenna department of banking and finance, covenant university, ota, ogun state email. The central bank of nigeria as generally called gets involved in merger and acquisition activity where banking institutions are involved. Issues and challenges article pdf available in research journal of finance and accounting 86 february 2017 with 11,834 reads how we measure reads. Download undergraduate projects topics and materials accounting, economics, education. The banking industry in nigeria started during the colonial era with the establishment of colonial banks, with the primary aim of meeting the commercial needs of the colonial government. The group annual financial statements, kcb bank kenya, kcb bank. Downloading bank statements, for example in pdf format 4.
Based on above the general objective of this work is to ascertain the impact of electronic banking instruments on the intermediation efficiency in nigeria, while its specific. Merger phase in banking sector of nepal nepal journals online. Mar 25, 2014 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. Official pdf, 1 pages world bank documents world bank group. D department of accounting, faculty of management sciences, university of calabar p. The researcher general towards explaining what electronic banking is all about and when it was introduce into nigeria.
Objectives, standards and processes of banking supervision. The merger between the two banks has spark off serious concern among big players in the market. Electronic banking and profitability of commercial banks in. 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 adoption of information and communication technology in banking sector is generally referred to as electronic banking e banking and application of its concepts, techniques, policies, and implementation strategies to banking services has become. Merger and acquisition in the banking ind ustry i n nigeria abstract banking is in the midst of change that has arisen due to economic depression.
Pdf money laundering and financial crimes in the banking. This study investigated factors affecting housing finance supply in nigeria. Challenges of the regulatory authorities and the aw y forardw adewuyi, i. Effect of mergers and acquisitions on banking sector performance in nigeria okoye, lawrence uchenna. Its contents may not be otherwise disclosed without world bank authorization. They noted that it security is a major challenge to ebanking in nigeria and the banking industry is not stable enough for ebanking. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. Adelelouise carter abstract the internet and other electronic media have had a positive impact on the lives of individuals and businesses all over the world. The paper examined the challenges of merger and acquisition in nigerian with special reference to telecommunication sector in nigeria. This bank is 4th in nigeria and was established in 1989. Access bank has 309 branches worldwide and 1600 atms. This is approved for students in accountancy business computer science economics engineering arts. Problem and prospects abstract this research work is an attempt to analyse and find out the problems and prospects of electronic banking in nigeria. Economics nne which is an integration of neoclassical economics and transaction.
Given the above scenario, therefore, this study focuses on finding how ebanking has been able to enhance the profitability of commercial banks in. It may be noted here that merger and acquisition is frequent in the nigerian banking sector. Merger and acquisition in the banking industry in nigeria abstract banking is in the midst of change that has arisen due to economic depression. However, both definition seen the same but the distinguishing factor is that whereas there is a fusion in a merger, in an acquisition, both the acquired and the acquirer companies continue in existence. The objective of this paper is to examine whether the 2004 bank consolidation exercise in nigeria has influenced positively the credit allocation and saving mobilization through reduced cost of borrowing and increased returns on savings respectively.
We only make an electronic banking service available if. D, fca department of financial studies college of management science redeemers university km 46 48 lagos ibadan express way redemption city, mowa ogun state, nigeria. E banking, it also observed, holds enormous potentials for the banking industry in nigeria. Implications on sectoral credit allocation and economic growth aniekan okon akpansung department of economics modibbo adama university of technology yola, nigeria matthew oladapo gidigbi department of economics modibbo adama university of technology yola, nigeria abstract. The banking industry in nigeria started during the colonial era with the establishment of. Nigerians can now stay in nigeria and pay for products from anywhere in the world and get them imported using electronic banking.
User acceptability and payment problems in nigeria 1. Igbunu richard department of computer science, school of sciences, college of physical education, mosogar, delta state. Major players in the banking industry are worry that the merger, given the huge resources will lead to the emergence of a bank that will be too big and strong by the local. Often, the reasons stem from disadvantages that are incurred when banking online. The decade 1995 and 2005 was traumatic for banking industries in nigeria which led to distress and in general, the overhauling of the industry. The perception and use of electronic banking among. In 2010, the central bank of nigeria remodified the existing universal banking model that permits the holder of a commercial banking license to operate in other noncore banking, either directly or indirectly through designated subsidiaries. The governor of central bank of nigeria, professor charles soludo in defense of the new capital base of n25billion and consolidation by merger and acquisition did analysis of the position of the government of the federal republic of nigeria and their reform programme to have a banking system that will be a strong bedrock for economic building. Finally, bankruptcy remains extremely limited, and while the use of mergers is gaining, it is being carried out in a largely administrative fashion. Factors influencing banks implementation and consumers. The impact of electronic banking on human resources. Bearing this consideration, the paper evaluates the impact of bank mergers and. Electronic banking services, and certain facilities under the electronic banking services, may be available only for certain types of accounts and not others.
There a basically three departments in the central bank of nigeria and they are the banking. Banking industry consolidation and financial performance. In 2004, the regulating body prescribed a minimum shareholders fund of 25billion naira for licensedbanks operating in nigerian. Core banking software in nigeria it wasnt long ago that nigeria had a gazillion banks but one and half banking consolidations later, we are down to about 24. Nigeria extractive industries transparency initiative. This banking method facilitates the importation of goods in nigeria. This assertion is borne out of the number of banks and bank branches, their total deposits. Electronic banking has made importation better in nigeria unlike manual banking.
The performance of the capital market is largely influenced by banksshare prices as the banking industry accounted for about 40% of the total value of equities on the nigerian stock exchange. Spearheaded by the announcement by the central bank of nigeria on july 6, 2004 about a major reform program that would transform the banking landscape of the country, an unprecedented process of merger and acquisition had taken place in the nigerian banking sector. Aside from having a personal computer or laptop, having stable internet access at home is a basic prerequisite to performing electronic. Get free research paper on the role of electronic banking e banking in the development of financial institutions in nigeria. Electronic banking using payment instruments postpaid cards, prepaid cards, money on a microchip etc. As government seek to improve economic efficiency and better allocation of resources to solve the problem of economic depression, policy makers are shifting towards openness, competitiveness and market.
Problems and prospects of electronic banking in nigeria. Nov 06, 2017 challenges of merger and acquisition in nigerian a case study of telecommunication sector abstract. The impact of electronic banking on human resources performance in the nigerian banking industry ojokuku, r. Electronic banking has reduced dependence on certain locations before performing certain banking transactions. Nigeria around 20042005 when the central bank of nigeria cbn. Empirical analysis of effects of bank mergers and acquisitions on small business lending in nigeria asuquo, akabom ita, ph. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. They acquired intercontinental bank and they started using access bank for both which was more like a merger. Post merger and acquisition and performance of deposit money.
It discovered that the increased application of e banking worldwide is a function of improvement in information and communications technology ict. Diamond and access bank merger changing financial landscape. Its economic benefits and challenges okifo joseph department of business education, school of vocational education, college of physical education, mosogar, delta state. Such indices would readily qualify the bank as the largest in nigeria. Prior the current banking reformation programme by the federal government, there were about 82 approved commercial and merchant banking institution in nigeria by the central bank of nigeria cbn even after the era of distress syndrome that swept away the industry in the mid 1990s leading to the collapse of many banks and finance houses. People now stay comfortably in their homes and perform a banking transaction using electronic devices without increasing road traffic. The research geared toward explaining what electronic banking is all about and when it was introduce into nigeria.
The researcher also explained the services and the features of electronic banking in nigeria. Electronic banking is the conduct of banking business electronically which involves the use of information communication technology to drive banking business for immediate and future goals. The banking system in nigeria is regulated through the central bank of nigeria. As government seek to improve economic efficiency and better allocation of resources to solve the problem of economic depression, policy makers are shifting towards openness, competitiveness and market discipline. Abor, 2004 before the introduction of electronic payment into the nigerian banking system, all customers had to walk into.
Pdf overview of electronic banking in nigeria chris. Electronic banking and profitability of commercial banks. Mergers and acquisitions and banks performance in nigeria. The disadvantages of electronic banking business nigeria. However, when we say merger, it implies the combination, joining or the fusion of two or more formerly independent companies into one organization or company with a common ownership and management without the coming together of these companies a merger cannot exist. Banking industry consolidation and financial performance of selected quoted banks in nigeria owolabi, sunday ajao1 2and ogunlalu, adewale emmanuel abstract in any economy, the banking industry is a highly regulated industry owing to the fact that the industry is considered as the engine of economic growth and development. Given the above scenario, therefore, this study focuses on finding how e banking has been able to enhance the profitability of commercial banks in nigeria, so as to fill the research gap.
Umoren and olokoyo 2007 studied merger and acquisition in nigeria. To do this, premerger and post merger financial statements of two. Banking reform and its impact on the nigerian economy pdf. Bank mergers, competition and financial stability bis. This research work is an attempt to analyse and find out the problems and prospects of electronic banking in nigeria. The impact of information technology in nigerias banking. Timothy abolade general manager, first bank of nigeria plc. The rise of electronic devices has also made electronic banking in nigeria, a rising trend. The impact of information technology in nigerias banking industry 1oluwagbemi oluwatolani 2abah joshua and 3achimugu philip abstracttoday, information technology it has become a key element in economic development and a backbone of knowledgebased economies in terms of operations, quality delivery of services and productivity of services. Department of management and accounting ladoke akintola university of technology, ogbomoso, oyo state, nigeria email.
Challenges of merger and acquisition in nigerian a case. By the time the other half of the new consolidation is concluded, we might be left with about 15 or so but until then fingers are crossed. Post merger and acquisition and performance of deposit money banks in nigeria imeokparia, lawrence ph. This reform focused on bank consolidation through the mechanism of merger and. The nigerian banking sector is no stranger to mergers and acquisitions. Colonial government always encouraged british banks to merge their interests in. Department of banking and finance, university of nigeria, nsukka achugamonu, uzoma. In nigeria, banking business, according to section 6 of the banks and other financial institutions act 1991 as amended in 1997, 1998, 1999, and 2002. This paper evaluates the impact of mergers and acquisitions on performance of banks in nigeria. Any merger that concerns the bank must first get prior approval of the cbn before sec approval is granted. Technological innovations are having significant importance in human general and professional life.
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