Description
An assessment of the impact and prospect of automated cheque clearing system in Nigerian commercial banks (a case study of First Bank of Nigeria plc, Gusau, Zamfara state).
Abstract
This project is on“An assessment of the impact and prospect of the automated clearing system in Nigerian commercial banks, First Bank Plc Gusau Branch as the case study”, the problems of the study include discipline among representatives, rowdy clearing sessions, and late balancing. This study is aimed at showing developments in commercial banks’ clearing systems, and role of regulatory authorities. The researcher employed the use of questionnaires and reviewed past data (literature of different authors). It was discovered that the introduction of the Nigerian Automated Clearing System (NACS) has improved the service delivery of banks and NACS discourages cyber crimes, the introduction of the NACS has made cheques generally acceptable. The researcher recommends that there should be an integration of payment and delivery electronic systems, NACS should upgrade to clear debit and credit instruments, credit transfer should widen the scope of innovation in the automated payment infrastructure, CBN provides appropriate mechanisms for payment risk.
Lawanna –