Electronic Banking In Nigeria: Problems And Prospects

Electronic Banking In Nigeria: Problems And Prospects

Abstract

This exploration work is an attempt to assay and find out the “ PROBLEM AND PROSPECTS OF ELETRONIC BANKING IN NIGERIA ”.

The exploration geared toward explaining what Electronic Banking is each about and when it was introduce into Nigeria. The exploration also explained the services and the features of electronic Banking in Nigeria. Though some of the information is between the bankers and their guests, the experimenter was suitable to b ing some of them out eventually, the information contained in this design jotting will educate some ignorant people, concerning how they can distribute business with their bankers or their guests through electronic device.

TABLE OF CONTENT

CHAPTER ONE

preface

Back ground of the study

Statement of the problem

The ideal of the study

compass of study

Limitation of the study

description of terms

CHAPTER TWO

Literature review

review of affiliated studies

Meaning of electronic banking

Features and services of electronic banking

Electronic payment system

Problems of electronic banking

exploration design

A Source of data

B system position of data

C system of data collection

D Tools of analysis

CHAPTER THREE

Summary of findings

A Monetary banking

B Cross – border issues

C Security of an electronic plutocrat scheme

D Frauds

E The payment system

Conclusion and recommendation

Bibliography

Chapter One

Preface

Background Of The Study

Fiscal institutions have been early adopters of smart card and credit cards technology, in the system and more lately, the launching of internet banking have converted with world into a global vill linked with electronic impulses. The idea or when the Apex Bank of Nigeria( Central Bank of Nigeria) gave the blessing to Allstates. Trust Bank Limited to issue a fiscal product known as the ESCA an electronic bag to the public.

latterly on, Diamond Bank Limited, introduced a resemblant product know as Diamond pay card. In February 998 the smart card entered a boost, when 19 certified banks floated a smart card company.

Statement Of The Problem

These preface of electronic plutocrat which are still at a fairly early stage of development have the eventuality of challenge the predominant part of cash for making small value payments and makes retail sale easier and cheaper for consumers and merchandisers( hospices Airlines, supermarkets, etc, who are current account holders). In the view of these, the Central Bank Governors of the group of ten( G- 10) countries commissioned a series of studies on specific issue related to electronic plutocrat. To

i) punctuate the main design features and functional aspects of electronic plutocrat products.

ii) Analyses the specialized pitfalls specific to these products and

iii) Examine possible security measures that can be reckoned upon to help, descry and contain fraud.

The Ideal Of The Study

In respond to information technology developments in domestic fiscal sector, the Central Bank of Nigeria commissioned an information technology strategy study with the ideal of promoting the effective performance of its statutory duties. The design is being enforced in phases and both the certified banks and the nonsupervisory authorities have demonstrated their appreciation of the benefits derivable from use of information technology.

The main focus of this design will be on the abecedarian policy issues, which the preface of electronic plutocrat scheme throws up, acceptable attention will also be devoted to prospects or control medium that has put in place to insure effective operation of electronic product vis- à- vis likely impact on the frugality as a whole.

Compass Of Study

The compass of this design work is confined to only the banks and their client in Nigeria and between a company or fir operating on electronic banking and their guests.

Limitation Of The Study

Despite the exploration is carried out there are some limitation the experimenter hassle similar as

i) shy Time

There’s a limited for the experimenter to work his design considering the short semester of the academy.

ii) shy Respond

Some bank doesn’t expose how they operate on electronic banking because it’s a secret between them and their client.

iii) FINANCE

The experimenter has limited plutocrat to carry out the exploration more effectively.

iv) shy Material

Because the design is a new development the material for the design is limited.

Description Of Terms

i) What’s leg? particular identification number it’s a device used to gain access to bones particular account.

ii) What are features of electronic banking? These are what separate electronic banking and the former banking sale.

iii) What’s prospect of electronic banking? This is the point success or out come or the position of electronic banking.