By Nzekwu, David O.
This study was aimed at analyzing the effectiveness of electronic banking in
Nigeria. The study appraised the use and applications of electronic banking
in Nigeria, its perception and major setbacks. The study also examined the
extent to which electronic banking contributes to achieving corporate goals
and missions and the various opportunities and benefits, which banks can
derive from the applications of electronic banking. The study equally
analyzed the security, control and risk management issues in electronic
banking in Nigeria.
To generate responses on these issues, two sets of questionnaires were
administered, one to the banks and the other to the banks' customers. It was
observed after a detailed analysis of the data generated from the study that
electronic banking in Nigeria was still evolving. Many of the banks in
Nigeria operate one form of electronic banking or the order. The major
forms of electronic banking operated by the Nigerian banks include; Mobile
Telephone Banking, Internet banking, Automated Teller Machine (ATM),
Electronic Funds Transfer and smart cards including value cards and several
forms of card based banking modes.