Table of Contents

CHAPTER ONE                                                                       

1.0   Introduction

1.1   Background of the study

  • Statement of the Problems
  • Objective of the Study
  • Significance of the study
  • The Research Question/ Hypotheses
  • Research Methodology
  • Scope and limitation of the Study
  • Definition of Terms

End of chapter references

1.9 Organization of the Study



2.0     Literature Review

  • Electronic Banking
  • Electronic Money
  • Electronic Payment
  • Growth and Level of Electronic Banking carried by

Banks in Nigeria

  • The Benefits of Electronic Banking System
  • Prospects of E-Banking in Nigeria
  • Challenges of Electronic Banking System in Nigeria

Banking Industry

  • Types of Risk Associated with Electronic Banking
  • Impact of Electronic Banking Risk
  • Impact on Financial Institution
  • Impact on Regular / Supervisory
  • Fraud and Electronic Crime in Electronic Banking System
  • Security and Privacy in Electronic Banking System

End of Chapter References


3.0     Research Methodology

  • Research Focus
  • Research Instruments
  • Restatement of the Research Question / Hypotheses
  • Restatement of Research Question/Hypothesis
    • Description of the Population and Sample of the Study
    • Description of the Study Population and Sample
  • Sampling Design and Procedures
  • Sources of Data Collection
  • Method of data Analysis and Description of

Tools of analysis

End of Chapter References


4.0     Data Analysis, Interpretation and Discussion of Findings

  • Interpretation of Items
  • Analysis of Data
  • Test of Hypothesis
  • Interpretation of Resul and General Discussion

End of Chapter References


5.0     Summary, Conclusion, Recommendation, and

Suggestion for Further Studies

  • Summary
  • Conclusion
  • Recommendations
  • Suggestion For Further Studies 85

End of Chapter References


Appendix 1





Access Bank PLC is a remarkable story of the remarkable of the transformation of a small obscure Nigerian Bank into a African Financial Institute of note with emerging footprints on the international banking landscape.

Access bank to day is one of the top to largest banks in Nigeria in term of assets base. A phenomena accomplishment considering its antecedents.

The bank was incorporated as Private Limited Liability Company on 8 February, 1989 and commenced business on 11 may 1989. The bank was converted to a Public Limited Company on 24 March 1998 and its share was listed on the Nigerian Stock Exchange on 18 November, 1998. The Bank was issued a Universal Banking License by the Central Bank of Nigeria on 5 February, 2001.


The principal activity of the bank continues to be the provision of money market activities, retail banking, granting of loans and advances, equipment leasing, cooperate finance and foreign exchange operations.

The Central Bank of Nigeria (CBN) prescribed a minimum capital base of N25 billion for all banks operating in Nigeria effective 31 December 2005. To achieve the N25 billion Capital directives, the Bank combined its business with those of Capital Bank International Limited and Marina International Bank Limited. The combination was approved by the Central Bank of Nigeria and the High Court of Justice on the 7th October 2005 respectively.


In Nigeria Banking system, there are many problems that lead to the failure of the banking system in Nigeria.

  • Problem of assessing the performance and effectiveness of electronic banking system into the monetary policy formulation and implementation in the economic to achieve macro economic objective
  • There is also a problem of control, security and database management put in place by operators to avoid fraud and unauthorized access

It is the consideration of the above that the research is designed to conduct a critical examination on a assessments of electronic banking system in Nigeria banking industry.


The board objective of the study is to access the performance of electronic banking system in Nigeria banking and assessment of its. Participation as a medium of delivery of banking service and as well as the performance of the information technology is the growth of the organization and the bottom line of the organization. The specific objectives of the study are:

  • To develop an understanding of the significance of the banks electronic activities within and across business line.
  • To access the current and potential impact of the electronic activities on the electronic activities on the institution financial profits and condition.
  • To asses the adequacy of risk management and oversight of electronic banking activities including outsourced activating.

Nigeria banking industry is growing rapidly and many universal banks are going into provision of electronic banking service and products, without facing a critical look on the risk involved and banking habits of the citizen. The possibility of these banks getting into problem is however on the high side. However a need is there arise to evaluate the challenges of electronic banking system and to prove a lasting solution.


Given the potential opportunities and benefits of electronic banking system to banking performance the research question that emerged for this study was:

  • How would electronic banking have significance effects of business activities across business lines?
  • What are the impacts of electronic activities on the financial profits?
  • Does electronic banking provide adequate risk management and oversight on banking activities?


For the purpose of this research to be achieved the following hypothesis will help in verifying the research statement.


Ho:    Introduction of electronic banking not improves the payment system and services delivery of banks in Nigeria banking industry.

Hi:     Introduction of electronic bank improves the payment system and services delivery of banks in Nigeria banking industry


Ho:    The challenges confronted or face by the banks in the industry not outweighs the potential opportunities and benefits derived form the system.

Hi:     The challenges confronted or banks in the industry outweigh the potential opportunities derived form the system.


Ho:    Introduction of electronic bank not improves the performance of Nigeria banks.

Hi:     Introduction bank improves the performance of Nigeria banks.


This comprises of the collection of instrument, the sample techniques, the procedures and methods of data analysis that is used which is based on questionnaire and data form Access Bank , through textbooks, magazines, interview and observation which provide reasonable information for the research work.



The research work will be based on the assessment of electronic banking system in Nigeria banking performance. Therefore, it will be limited to banks practicing universal banking system only. This research work will limit the study to access Bank Plc, in Akure, Ondo State. The research will appraise the impact of electronic banking system to the operational and overall performance of the bank since its introduction of the bank.

Moreover, this study is generally focused on internet banking practice (electronic banking) of commercial banks within big commercial banks in eastern part of Nigeria services. This is done out of the fact that the commercial banking services. The choice of the location was also as a result of large volume of commercial activity going on there, in the recent part.

The study of some selected commercial banks would enables us generalize about the challenges of concept also system are inter – related and interwoven.

The subject is a quite topical in Nigeria in view of the fact that technologically, it embraces a very broad field. Because of the dynamic nature of the concepts of the electronic baking on commercial banking services will be discussed in this study.

  • ELECTRONIC BANKING PRODUCTS: Today in access bank, electronic banking is still restricted to value card business. Value card is a smart card device that stores data, financial information and money value electronically. In its broadest sense, electronic banking offers several services that consumes may find practical. The following are some of the electronic services that have been introduced by the banks in Nigeria.

Automated Teller Machine or 24 hours Teller Electronic terminals that lets customers bank almost anytime to withdraw cash, make deposit or transfer funds between accounts, the customer generally insert an ATM Card and enter Pin some banks and ATM Owner change a fee, particularly to consumer who don’t gave accounts with them or an transaction at remoter locations.

  • DIRECT DEPOSIT: Direct deposit enables a customer to authorize specific deposit, such as pay cheques to his account on a regular basis. Customer may also pre – authorize direct withdrawals so that recurring bills, such as insurance premiums, mortgages and utility bill are paid automatically

(d)     TELEPHONE BANKING/PAY – BY – PHONE: Pay – by –phone or telephone- banking system will enable a customer to call his bank with instruction to pay certain bill or to transfer funds between accounts. Account statement and balances can be obtained through this means.

(e)      PERSONAL COMPUTER (PC) BANKING: Personal Computer Banking allows a customer to handle many banking transaction via his personal computer. For instance, he may use his computer to view his account balance request transfer between accounts and pay bills electronically.

(f)      MOBILE BANKING: Mobile Banking enables customers to carry out banking transaction via their mobile phones. For instance, mobile phone may be used to view accounts balance, carry out money transfer and pay bills electronically.

(g)     POINT – OF – SALE TRANSFER: Point – of – sale transfer let customer pay for purchase with a debt card, which also may be his ATM card. The process is simple to using a card with some important exception. While the process is fast and easy debt card purchase transfer – money quickly from the customer bank account to the store’s account.

(h)     CARD: Cards are key tool electric banking providing authentication and access to banking service. Most common in Nigeria are most smart cards containing one or more integrated circuit chips supporting multiple applications, therefore facilities access to funds in the card holders account on the basis of information communication electrically.


(i)      INTERNET BANKING: The internet offers the possibility of open system payment and settlement system which operates in parallel to existing more traditional bank – based networks and which is particularly suited to meet the currently unsatisfied requirement for processing payments electronically.

Making payment as well a conducting banking transaction over the internet has become so easy and thus popular especially with the rapid expansion of the internet. All that is needed to process and manage transaction over the internet is a payment system, a credit card account and a computer with an internet connection and a web browser.

Access bank plc, has presently signed on to e – Transact for the banks internet/mobile banking application E – Transact is a mobile phone and internet payment system which enable subscribers to shop securely, transfer money online and pay bills via telephone bills and the web.


(j)      ELECTRONIC CHEQUES CONVERSION: Electronic cheques conversation convert a paper cheques into an electronic payment of the point of sale elsewhere such as when a company receives a customer’s cheques in the mail store, when a customer gives his cheques to a store cashier the cheques is processes through an electronic system that capture the customer banking information and the amount of the cheques. Once the cheque is processed the customer is asked to sign a receipt authorizing the merchant to present the cheques to the customer’s bank electronically and deposit the fund into the merchants account.

The customer gets a receipt of the electronic transfer for his records. When the customer’s cheques has been processed and returned to him by the merchant it should be voided or market by the merchant so that it cannot be used again.

(k)     ELECTRONIC CARD: This is another types of electronic payment that enable customer make payment and cash withdrawal via their cards. There are two types of cards debits card and credits card. Electronic cards are sometimes refers to as smartcards. Smartcards is a generic term for a wide variety of products that evolved in card technology.

(l)      CREDITS CARDS: Credits cards are distinguished from debits cards by having access to line of credits made available for the card holder by the card issuer. They generally require four spare parties to each transaction, the card holder, the merchant selling the goods and services, the merchant acquire processing the credit card payment and the card issuer.

Electronic point of sale terminal permits card details to verify in less than 15 seconds with network linking the merchant, the card holder processor and the issuer world wide. The majority credits card companies’ visa and master card are presently leading the race to established secure payment system on the internet Ecobank has successfully introduced master card into the Nigeria market while value card Nigeria plc in partnership with visa is at the advance stage of introducing visa card also into the Nigeria financial market.

The grow in credit card usage confirm the basic demand which exits for more efficient electronically based payment system.






Above is the specimen of credit card.



(m)    DEBITS CARD: This is brand of smartcard which stores data, financial information and money value electronically. It is electronic purses which hold an electronic equivalent of cash. For example OKA debits card is valuecard which is widely used in Nigerian banking industry the smartness of value card comes for the integrated circuit embedded in the plastic.

Value card can be used as a means of payment and services as an access control system and as a means of identification. However, one of the main limitation of the value card is offline status, which limits its functionality into areas of online leading or access to banking accounts, online settlement of merchant transactions and money transfer. There together with the value card business contributed the profit being recorded by banks.


The organization report of the project divided into five chapters one is the background of the study, statement of the problem, objective of the study, scope and limitation of the study.

And chapter two is for introduction, the major concept, existing theories and their assumption critiques of the theories current literature based on each of the relevant variable of the model, summary of the chapter and references.

While chapter three due with a brief out time of the chapter. Restatement of the research question and hypothesis, research design, characteristic of the study, population, sampling design, and procedure, data collection instruments, test of validity and reliability of the study instruments. Administration of the data collection instrument procedure for processing collected data, limitation of the methodology, references.

Chapter four base in introduction, presentation of the data, analysis of data, test of hypothesis, discussion of result and references.

The last chapter which is chapter five is classify into summary, conclusion and recommendations, summary of synopsis of the study including a comprehensive summary of this finding, conclusion drawn from the finding including how the study has answered, the research questions and tested the hypothesis, recommendation base on the conclusion, suggestion for further studies and references.








C.B.N, (2003) “Guideline on Electronic Banking in Nigeria” C.B.N. Abuja.


Ayocharley, K. (2006) “E- Commerce Prospect and Implementation”, UAC, Ikeja Lagos.


Femi, O. (2004) “Review of Central Bank Guideline for Electronic Banking” UCA, Abuja



Sanusi Lamido A.S. (2009) “Assessment of Current Development in

Nigeria Economy and The C B N Policy Action” UCA, Abuja


online payment nigeria



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