| Content | CHAPTER ONE
1.0 Introduction
This project is on Examining the effect of e-banking on change management in Nigeria.
The concept of Electronic Banking
Electronic banking is the utilization of electronic and telecommunication networks to render a wide scale of product and services that adds value to the customers in banks (Steven, 2012). Adoption of information technology in banking product and services is termed as electronic banking. According to a study by Ovia (2012), electronic banking is considered an e-commerce product and service in the world of financial and banking services. Banks and other financial institute are rendering services with respect of their customers who embark on varieties of e-shops
It is a coverage for the process by which a customer may carry out banking transactions electronically without visiting a brick-mortar institution (FinCen, 2012).
The business world of today, there has been a vast improvement in banking services and financial sector growth as a result of technological improvement, increase in awareness and customer demands served by banks
Banks have been known to largely utilizing technology to enhance their product and services. The 21st century banking industry operates in a very competitive and complicated environment that features these condition that is changing and very difficult to predict the economic atmosphere. In Nigeria, information and technology is a facilitator of this global change curve of an E-banking system. Information system cannot be left aside in the Nigeria banking system, this is because they are very important in recent banking activities by linking all banking activities to an information system to create efficiency and effectiveness in the banking industry.
A study conducted by Winston and Kalakota (2009) noted that the electronic payment system is gradually becoming the main focus of an online innovative business procedure as most organization look for ways to increase faster customer delivery with cost-efficiency. With this same note, Chhabra (2009) argued that the e-payment system is being functional in insurance, air ticketing, banking, retail, health, government and most especially online make. Several merits have been noted about the e-transfer mode as compare to the traditional or conventional money clearing house, this is because banks are constantly switching to information technology for payment management (Kumar, 2009). Some features include cost cutting, payment on due date, secure payment and ease of managing cash as compare to the conventional systems.
Almost all the banks are investing largely in executing the e-banking or the self-banking service with an aim of enhancing the uniqueness of their services to customers. E-banking development is supposing to reduce the banking halls and solve the issue of long waiting time of customers in banking halls. As opined by CBK (2009), ICT-based financial services have made significant impact on reducing the financial service cost.
E-Banking System in Nigeria
With the growing trend in the adoption of an electronic payment processes in Nigeria, it has become revolution that has astounded stakeholders in the financial sector. According to E-commerce Journal (2009), there has been a less than 50,000 transactions recorded four years ago on Interswitch and it has increased to over 98,000,000 per as at March 2009. The Managing Director of Interswitch, Mitchel Elegbe, a payment solutions platform provider with 25 Nigerian Banks on its platform has confirmed that the networks have experienced a progressive shift in transactions with the adoption of information technology by Nigerian. In March 2007, the network witnessed 13.6 million transactions, which then increased to 51.2 million transaction and as at 2016, $2.4 billion was recorded as an annual transaction in Interswitch. The network grew at 276.2 per cent with a volume of 271 million transactions worth N430b across its entire network from several channels-ATMs, PoS terminals, mobile, Internet, and bank branches using the network (E-commerce Journal, 2008).
Organizational Change
The concept of change is an unplanned movement from one aspect to another. Strategic change is naturally long term and it affect the whole organization and the main objectives is efficiency and effectiveness. Operational change is a short-term change and it affect the organizational sections and focus on efficiency. The idea of organizational change is widely essential and it is affected by several internal and external factors, either positive or negatively. Bringing in change impose a lot of hinderances and crisis with employees at workplace. This implies that a change in the state of operation will bring in anxiety as no one have no knowledge of how the result will be. Organizational change is a reality that is socially constructed with a bargained meaning as a result of struggles and power relationships for authority (Grant, 2005).
Kassim et al (2010) as noted that organizational change was set from incongruity that was noticed from environmental change which take the form of network of related activities that holds the procedures of constantly improving the capabilities of an individual and groups that work in a particular. Similar study conducted by Daft (2010) opined that an organization change is as a result of certain dynamism in the business environment and also results from the perception, action and choice of the manager. However, Kotler and Armstrong (2008) argued that the concept of organizational change is same as organizational transformation. They pointed out that the activity involve in change is a more complex as it is been seen or perceived by people, this is the reason why two third of all effort for organization change does not work (Szabla). Organizational goals of change vary independently of the organization, but the major ones are centralized on improving performance, eliminating and preventing organizational crisis, and capacity to go through environmental disturbance and competition.
Statement of Problem
Organizational change management is one unique factor that never be underrated as it a vital part of organizational success. Though scholars and experts have done series of research on organizational change management, but known have been able to integrate information and communication technology on organization change management. Technological change, market place, information system, global economy, social avlues, workforce characteristics and political atmosphere have a unique and significant impact on the procedures, service and product by an organization (Simons, 2010).
A study conducted by Kimani (2015) revealed that there exists a positive relationship between the adoption of information technology and organizational performance at population services, Kenya. He further opined from the results that the use of information technology explains a 82.4% increase in organizational performance at population service, Kenya.
A similar study conducted by Hannington (2013) argued that electronic banking is therefore revolutionizing the manner at which business is being conducted daily and has help to speed up service and reduce the cost of service delivery in many organizations. The study was design to analyse the relationship e-banking and the performance of commercial banks.
Taiwo & Agwu (2017) carried out a study on the role of e-banking on operational efficiency of banks in Nigeria. He argued that with the creation of the internet, coupled with the improving awareness of digital lifestyle and the introduction of e-business such as e-commerce, cash transaction is now fading away and electronic payment is being appreciated. The result from his study shows that there is a positive relationship between e-banking platform and operational efficiency.
Olayinka (2012) argued that the adoption of an electronic self-service system with the use of information technology gadget or mechanism, for the banking services provision has been used widely for last decades in emerging market around the world.
Having reviewed the above literature, none has been able to identify the effect to e-banking on organizational change management which is a crucial discourse for organizational performance. The present study will be able to fill in the gap by investigating the effect of an e-banking on organizational change management.
Research Aims and Objectives
General Objectives
Generally, the study aims at examining the effect of e-banking on change management in Nigeria Banking Sector with special reference to First Bank of Nigeria.
Specific Objectives
The study objectives will be to;
- Determine the level of e-banking technology use in First Bank Nigeria Plc.
- Examine the perception of change management in First Bank Nigeria Plc
- Investigate the impact of e-banking on change management in First Bank Nigeria Plc
Research Questions and Significance of the study
The research will be made to provide answer to the following questions;
- What is the level of e-banking technology use in First Bank Nigeria Plc?
- What is the perception of change management in First Bank Nigeria Plc?
- What are the impact of e-banking on change management in First Bank Nigeria Plc?
The study will be of benefit to researchers and academicians that desires to further their knowledge in the aspect of e-banking technologies and change management with more emphasis on identifying further issues surrounding the changes in technology in a particular organization. The research findings will be of immense of benefitting which will be used as guidelines and also a reference point to future researchers and scholars in the field of management. More platform will be provided from the result of this research in the area of change management and specifically on challenges of strategic implementation which is also an aspect of strategic knowledge management.
Due to the fact that First Bank Nigeria Plc will be used as its study’s scope with a holistic view from the Nigeria Banking Sector, the study will contribute effectively to First Bank by identifying issues surrounding change management and how e-banking implementation could help solve as a change management programme. It can also serve as a veritable source of information to the management of strategic changes.
The study will also be of immense benefit to policy makers and government on several institutions by making and implementing policies on strategic management of change. The study will also the Financial Authority like the Central Bank of Nigeria of formulating policies on introduction and implementation of new information technology to help financial institutions in terms of transparency, risk management, accountability and effective customer service delivery.
Delimitation of the Study
This study is undertaken to investigate the effect of e-banking on change management of the Nigeria Banking sector with particular reference to First Bank Nigeria Plc. The reason for using First Bank Nigeria Plc is due to the fact that is has the biggest market capitalization in Nigeria among all banks (SEC, 2018). This proposed that the researcher will make use of selected First Bank in Lagos State Nigeria.
Organization of the Study
In line with the introductory chapter, Chapter Two sets the scene for the thesis by providing a review of the literature and of the theories adopted in the study. Chapter contains a conceptual review of E-banking System, E-banking system in Nigeria, Organizational change, effect of E-banking on Organizational change and challenges of implementing e-banking as an organizational change programme. The section will also contain an empirical review of previous work on the study scope. The chapter three provides details of the research methodology adopted in the thesis. It explains the approaches chosen, data collection procedures and the techniques for analyzing data.
Chapter four include discussions, analysis and data presentation of the research finding based on field survey report and finally, the chapter five contains the discussion of the research findings in a summary form with a conclusion and recommendation of the case study followed by the references and appendixes. | Abstract
This research work empirically explored the impact of infectious epidemic on the banking Industry - a case study of corona virus disease. The objectives of this study were to examine the level of coronavirus disease in Nigeria, investigate the impact of coronavirus disease on banking transactions in Nigeria. The scope of the study is banks in Nigeria, The infectious disease transmission mechanism theory was used as a framework. The research design used for this study is survey, the population targeted for this study consists of all first bank across the country. 40 first bank branches including the headquarter were used as sample size and cluster sampling technique was applied. Instrument used for this study is the questionnaire. Data collected were collected from primary sources. From the analysis of the data, the findings show that the level of coronavirus disease in Nigeria is average, coronavirus disease has an effect on the level of banking transactions in Nigeria. Following the findings, it was recommended that measures should be devised to curb the spread of the virus and vaccine created so as to prevent further hinge on banking activities, banks should devise a means to function as normal even if it entails making use of online means. The study concludes that coronavirus disease has a negative effect on the banking community. Keywords: coronavirus disease, banking industry, Nigeria. | CHAPTER ONE
INTRODUCTION
1.1 Background of the study:
Election is a process through which voters choose their representatives and express their preferences for the way that they will be governed. A proper electoral system reflects the true voice of the people in a nation and thus, a better government which respect and uphold the ideals of constitutionalism. In all the world’s established democracies, elections are a national and very serious civic business conducted at specific periods, civic and serious because a country’s leadership is produced through this process. Governments in these democracies have continued to invest huge sums of money in search of better ways of managing and administering electoral processes in order to make it easier, less tedious and less controversial. Despite the investments on elections and electoral processes, it has seemed most countries especially developing countries like Nigeria still has a long way to go, as manual method of voting is still being practiced in even general elections as is involved in the collation and announcement of results (Anichebe, 2016).
The word “Vote” means to choose from a list, to elect or to determine who leads a group of people for a period of time. The process of electing leaders lies in the hands of a group of people who willingly will cast their votes for a choice candidate (Akshaya et al., 2017).
Traditional or manual voting system also known as ballot voting system is a method by which recording and counting votes are carried out on paper cards. For this type of election, the most well-known approach for a voter to voice out his/her own choice candidate from a number of candidates vying for an electoral position is to vote at a particular polling unit (Ofori, 2011). Numerous problems are still mitigating the process such as; ballot box snatching and stuffing, difficulty in timely delivery and distribution of electoral materials, biased electoral umpires and officials, multiple registrations and voting, result manipulation, inconclusive elections, low voter turnout, disenfranchisement of eligible voters, child voter registration, poorly managed voter registration process, late arrival of ballot boxes, stealing of ballot boxes, under-aged voting, illegal voting by non-Nigerian nationals, rioting and fighting at election venues due to insufficient number of security personnel, disenfranchisement of those in Diaspora as well as the physically handicapped by virtue of election distances to them, prolonged delay in accreditation of determining the result of an election, cancellation of votes due to improper voting, prolonged counting of votes and delay in announcing results and week electoral policies and laws. Nigeria as a country has got her unfair share of the challenges listed above, which has made it increasingly difficult to organize complaint free elections (Nwogu, 2015).
Some pro-technology pundits have argued strongly and unequivocally that the introduction of verifiable, accountable, auditable and reliable technology in the electoral process in Nigeria can go a long a way in addressing the challenges listed in the foregoing. This stand has not been without strong opposition from some schools of thought; as the opponents of online voting have continually argued that the introduction of technology, especially information technology can lead to widespread and uncontrolled hi-tech electoral manipulation from desperate politicians. This topic has been debated severally on the floors of the two chambers of the National Assembly of Nigeria, with the outcome being the dropping of such bills seeking to introduce online voting in Nigeria. (Nwogu, 2016).
Voters in Nigeria also have continued to voice out their frustrations over the electoral system, these issues have led to voter’s apathy, which is a situation where voters don’t come out to perform their civic rights for the fear of pending dangers. Consequently, Nigerian’s seek the development of a system that minimizes the intricacy in voting process (Nwogu, 2015). Such system, they say will encourage voter participation in the electoral process which at the moment is not encouraging and this is basically because of fear of the unknown that can occur during the voting period.
The Independent National Electoral Commission (INEC), is the election management body that responsible for general elections while the State Independent Electoral Commissions (SIECs) are responsible for elections at the local government level. INEC was established in 1999 by section 153(f) of the Constitution (as amended) of the Federal Republic of Nigeria. One of the powers of the Commission as stipulated in Part I of the Third Schedule of the 1999 Constitution (as amended) is to “organize, undertake and supervise all elections to the offices of the President and Vice-president, the Governor and Deputy Governor of a state, and to the membership of the Senate, the House of Representatives and the House of Assembly of each State of the Federation”. It is also the body responsible for registering all eligible voters, constituency delineation, and making regulations for the smooth running of the electoral process (center for democracy and development, 2018).
Voting schemes have evolved from counting hands in early days to systems that include paper, punch card, mechanical lever and optical-scan machines, Electronic voting systems provide some characteristic different from the traditional voting technique, and also it provides improved features of voting system over traditional voting system such as; lesser fraud, lesser cost, accurate counting, convenience, flexibility, privacy, verifiability and mobility (Anichebe, 2016).
Voting systems have been present for long time but with the emergence of new web technologies, the conventional electoral process, should be modernized to allow for the organization of Elections in many different ways. Paper-based elections make use of paper ballots, while automated elections make use of some kind of voting machines that automate the voting and/or tabulation procedures. When the voting machines are actually implemented by computers, we talk about electronic voting. Online voting systems are much more formal than polling booth systems, because they seek (or should seek) to accurately reflect the voter’s preferences. It is generally perceived as a medium for promoting democracy, establishing belief in electoral management, adding integrity to election outcomes and improving the overall efficiency of the electoral process (Ofori et al., 2011).
Online voting which is a form of electronic voting involves the use of internet which makes it web-based. There can be no online voting without the use of either laptops, desktops, tablets, smartphones or mobile phones, that are connected to the internet (Ankit et al., 2012).
In a typical online voting process, users interact with the system as this interaction are performed remotely through the user's web browser. Users are provided with an online registration form before voting user should fill online form and submit details these details are compared with details in database and if they match then user is provided with username and password using this information user can login and vote. If conditions are not correct entry will be canceled. It contains two level of user’s administrator level and voter level where each level has different functionality (Raja et al., 2015).
Voters will be able to access the website wherever and whenever they desire and choose their preferred candidates so far, they have internet connection. Online voting significantly decreases direct human control which is viewed as a positive point but at the same time it presents an entire scope of new concerns (Hosany et al., 2017).
Internet based voting systems require strong safeguards against hacking attacks, viruses and Trojans. Hijackers can take control of the website from adding up voters, removing voters to the final stage of election result details, such actions can be perpetuated from a different location where the voting process occurs. A virus or network attack can also do same degree of damage to the voting process if all loopholes in the design and deployment phase are not carefully fixed. Network attacks may be met by cryptographic key exchange and distributed backend databases. Information dispersal algorithms and verifiable secret sharing schemes may be used to maintain system fairness such that no single server stores all the cast ballots and the partitions are distributed over independent servers. As long as a majority of these servers remain honest, the possibility of sabotage will remain low (Parakh, 2010).
Even with the disadvantages that can arise from the use of online voting systems (Hosany et al., 2017) noted that, it is a fact that with proper implementation, online voting system can get rid of several frauds, pace up the preparing of results and make voting more appropriate for the public.
With this proposed system for online voting, casting of electronic ballots from virtually any location around the world without visiting a polling unit, in a highly secured manner will be possible, so far, the person can be validly identified as a Nigerian. Such voting’s from the voter’s choice location will ensure security of lives and properties in a fearless and violent electioneering period, this system hopes to increase the percentage of voter’s participation. The system will be an altogether paperless one since it will eliminate all the manual tasks.
1.2 Problem Statement
In Nigeria elections are conducted every 4 (four) years for Presidential, National Assembly, Governorship and State Houses of Assembly seats. The government spend a lot of money to equip the umpire body (INEC) to be able conduct credible elections, this finances for the election cut across voter education and awareness, purchase of election materials such as voter card printing machines, voters card readers and ballot boxes, training of AD-HOC Staffs, payment of security formations who guide and protect election materials and AD-HOC staffs, payment for transportation of sensitive INEC materials, payment for those who conduct the elections, payment for returning officers. With all the spending’s and planning processes for these elections, it’s easy to believe that the election process can be conducted without problems but that’s not the case, as varying problems come up, some of which are tagged “issues based on logistics”. This issues usually have led to the shift of the election dates, also for places where this electoral materials are kept attacks on INEC staffs are prone as hoodlums try to get and destroy the materials to destabilize the electoral process at specific places, even when this incidents don’t occur at some places and the materials reach the polling units there are other problems that can surface such as card reader failures and voters not being able to see their names at their designated polling units. Snatching of ballot boxes and violence are also amongst what happens in the polling units, which are actions that sometimes lead to loss of lives and properties. With all the challenges, there is a great need for online voting even with its own set of disadvantages which borders round voting process manipulations which can be performed from any part of the world when the system is not highly secured, therefore their will be need to ensure lack of loopholes in the design to reduce attacks.
The proposed system will be robust to tackle the gaps in the current system which amongst many include; lack of transparency and error-free election process. The system will be capable of checking duplicates, output winners based on live majority votes. The system will be designed with a modular approach and the number of modules is decided as per the requirements of the election. The two modules are administrator module and the user module, where the administrator has total authority of the organization and maintains all the aspects of the voting system, while the user has the provision to view the list of all candidates and results as well as vote for the desired candidates.
1.3. Aim and Objectives of the Research
The aim of this research is to develop an online voting system to ensure a safer and secured voting process that will guarantee voters votes count, as the results will be true reflection of the majority voter’s choice. The objectives of this research work are as follows:
- To analyze and understand existing online voting systems.
- To design an online voting system for elections using context diagram, use case diagram, ERD.
- To implement the design (ii) above using PHP programming language.
- To test and evaluate the codes developed in (iii) above for correctness and robustness.
1.4 Scope of the Study
Online voting system is a web-based platform that is an alternative to manual voting, it seeks to provide an avenue for voters to perform their civic rights without any form of apathy, the system is meant to be highly secured against attacks that can lead to vote manipulations. For the purpose of this research work, we shall be limited to developing a website for voters to use and vote for their preferred candidates from any part of the world.
1.5 Definition of Terms
VOTE: To vote is to express or signify will or choice in a matter, it’s done by casting a ballot. Also, it’s said to be a formal expression of opinion or choice, either positive or negative, made byan individual or body of individuals, such the means by which such expression is made, as a ballot, ticket, etc.
ONLINE: This is basically having the ability to be able to communicate with people, perform specific functions based on what is available on a website. To be online, active internet access is needed, with a device such as a phone or computer.
ONLINE VOTING: Online voting or e-voting (electronic voting) is a voting that is performed using the internet to cast and count votes in a democratic election.
VOTER: A person who has the legal right to vote for his/her preferred candidate in an election.
HTML CODE: HTML stands for Hyper Text Markup Language. It is a type of computer language that is primarily used for files that are posted on the internet and viewed by web browsers. HTML files can also be sent via email.
MARKUP LANGUAGE: A markup language is a combination of words and symbols which give instructions on how a document should appear. For example, a tag may indicate that words are written in italics or bold type.
WEB BROWSER: -A Web browser is a software program that interprets the coding language of the World Wide Web in graphic form, displaying the translation rather than the coding. This allows anyone to “browse the Web” by simple point and click navigation, bypassing the need to know commands used in software languages. | CHAPTER ONE INTRODUCTION The banking sector of Nigeria in the past could be divided into two groups-the elite foreign banks which concentrated on the rich of the society and the local banks mainly owned by the state.The latter served the interest of most working class people. The elite banks were Barclays Bank (formerly called the Colonial Bank) and Standard Chartered Bank (formerly,Bank of British West Africa). The second group of banks with state ownership include Nigeria Commercial bank (GCB), Social Security Bank (now SG-SSB), Agricultural Development Bank (ADB), and the National Investment Bank (NIB). The clients of the localy owned banks found business transations very frustration espercally during salary payments, for example, it was not uncommon observing long winding queus extending serveral meters outside the banking hall. The few foreign banks on the other hand, apply high charges and the initial deposit to open accounts was very high. The average Nigerian could therefore not open accounts with these banks. Choices were very few and competition was virtually absent in the sector. The Bank of Nigeria (BOG) with the support of government undertook a process of financial sector restructuring which transformed the financial sector. Some of the initiatives that led this transformation is the movement to universal banking, the adoption of an open licensing system and the modernization of the payments systems. According to Acquah (2006) the governor of the BOG,?universal banking involves the removal of restrictions on banking activities which allow banks to choose the type of banking services that they would like to offer in line with their capital, risk appetite and their business orientation?(2006). Universal banking creates room f | Abstract
This research work is based on the contribution of the computerization of the banking system to the development of modern banking in Nigeria. The Nigeria financial industry and the banking sector, in particular, are undergoing changes in recent times. The undergoing of the industry has also its financial implications in the country. It has introduced several risks and opportunities competition within the banking industry demands the need for a dynamic and innovative approach to the management of information system. The banking world is being influenced by information technology. Although computer as a veritable tool to improve banking facilities has not actually been adopted by all banks. The research is going to show the actual contribution of computers to the banking industry and the tools to improve banking facilities have not actually been adopted by all banks. In trying to state the contribution and problems related to computers, the researcher both primary and secondary data from finding, it was that computerization of the banking industry has contributed to the banking industry also bank efficiency. The research questions were also tested which shows that computerization of the banking industry in Nigeria has improved bank performance and efficiency. | MONETARY POLICY IN NIGERIA BANKING INDUSTRY( A CASE STUDY OF FIRST BANK OF NIGERIA OWERRI BRANCH)
CHAPTER
1.0 INTRODUCTION
This research is on Monetary policy in Nigeria banking industry ( a case study of first bank of Nigeria Owerri branch). Currently, monetary policy has been taken to be a very vital measure in controlling the Nigeria economy this is one of the principal functions of the first bank of Nigeria (CBN). The CBN caries out this responsibility on behalf of the federal Government of Nigeria through a process outlined in the first Bank of Nigeria Decree 24, 1991 section 8 sub sections 1 and 2, the Governor shall keep the president informed of the monetary and banking policy pursued or intended to be pursued the Bank. The president after due consideration may, in writing, direct the bank as to monetary and banking policy pursued or intended on the board which shall forthwith take all steps necessary or expedient to give effect there to Monetary policy is a programme of action undertake by the monetary authorities, generally the first bank, to control and regulate the demand for and supply of money with the public and the public and the flow of credit with view to achieving predetermined macroeconomic goals
1.1 Background of the Study
The federal Government have seen economy as a result of unstable exchange rate. Is cobbling, and have decided to improve and maintain to strengthening balance of payment and maintenance of stable domestic price level.
1.2 Statement of the Study
In this report, the impact of monetary policy in Nigeria banking industry will be investigated. The investigation on the impact of this monetary policy in Nigeria banking industry's will enable its complete distribution even to the local communities. It will also enable its ascertainment on the likely problem that will occur on the process of implementing monetary policy. It will also go a long way. Way in making people know how to spend their money.
1.3 Objective of the Study
The objective of this study is to ascertain know the high rate of employment.
1.4 Research Question
For the purpose of this study the following question will guide this work.
- How does C.B.N implement their monetary policy?
- How does the C.B.N uses the monetary policy in controlling the price stability of the state?
- How does monetary policy increase the growth of the economic productivity.
1.5 Research Hypothesis
For the purpose of the work, the following hypothesis will be tested.
Null hypothesis; if the impact of monetary affect the banking industry
Alternative hypothesis; if the impact of monetary policy does not affect the banking industry.
1.6 Significance Of The Study
This project proposal is significant in the following ways:
- To prospective study who wants to know more on the impact of monetary policy in the banking sector.
- The study will be relevant to those who work in the bank to help them know how impact monetary policy in banking sector.
- To the Government on how to plan to improve the impact of monetary policy in banking industry's.
1.7 Delimitations And Limitation
This study will cover areas of academics, business, Government and banks.
1.8 Limitation
A study of this nature cannot be carried out without difficulties in the process. An important constraint is the time constraint. This research proposal work and examination and the research were complied with a very short period of one week.
Another constraint is finance, a research of this nature involves adequate search ( raw materials)
Lastly, difficulty in securing relevant data for the study. |
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