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THE RELEVANCE OF COMPUTER NETWORKING IN NIGERIA BANKING INDUSTRY

ABSTRACT

With the current banking system in the country’s (Nigeria), the computer networking system has become important in the banking industry as the bank officers and customers have began to appreciate accessibility, creditability and constancy of the network system, this project discovered the importance of computer networking system, in the banking industry. However, quantitative and analytical were used in the compilation of facts, use of bar chart, pie chart, testing of hypothesis, establishing relationship and drawing inferences based on the information collected. Moreover, from the analysis, through questionnaire, direct interview and observation, this study should be able to prove the fact that despite all the problem of the computer networking system in the banks that have started the implementation, like communication problem from MTN software problem, the system I still required in the banking industry to help perform the major banking operations like funds transfer, printing of balances making information to be available from any branch to any other branch when needed etc which ordinary computerization of the bank cannot handle. However, the success of the computer networking system in the banking industry shall be however recorded mainly in the area of minimizing the time spent by customers in the bank when carrying out any transaction, increasing the efficiency and effectiveness of the level of performance by the bank officers, increase in the number of branches since the commencement of the programme and in the number of services rendered by these banks. Furthermore, the study also in the final analysis will make some adequate recommendation to the banking industry. Customers and MTN communication such that all old and new generation banks should embark upon the computer networking system.

CHAPTER ONE

INTRODUCTION

1.1  BACKGROUND TO THE STUDY

Ade Wum, (2006) the advent of structural adjustment programme in 1989 has not only increased competition in the banking industry, but also brought the application of computer in banking services the competition brought about by the structural Adjustment, programme (SAP) has enhanced the introduction of computers in banking industry. But computerization per say has solved some problem in the industry. Some innovation banks have gone into computer network in order to reduce if not eliminating some of these problems. Banks wants to achieve the improvement of their services rendered to customers.

As at 2007, first Bank of Nigeria Plc Ovoko Nsukka monthly Business and economic report (august 2008) opined that the banking industry has witnessed a rapid transaction due to services delivery with the trend of competition. However, some people have argued that the service cannot be significantly improved despite the increase in number, but within that same of people some still believe that banks need to radically improve their mode of operations. This means that bank should rely less on human labour to perform the routine jobs that tend to consume workers time. This still leads to some of the problems  encountered by the majority of the customers in the baking services delivery. The inefficiencies of various degree, such as unbelievable eremitical errors in cash paid and received over the counter and wrong posting to statements of accents. Inadequate and untamed information for loan management etc. can effect bank.

Furthermore, customers will like to operation their account from anther branch different from where they maintain their account. Banking industry problem can be removed with the aid of higher degree of computerization which is computer net working. Not having computers in one branch and forgetting about the other braches. Banks should have computers that will amble them to carryout their operation effectively. The computers have to be linked how this can be done will be discussed in this project writing or work. Basically, computerization of branches has to be achieved before this networking is possible.                     

1.2  STATEMENT OF THE PROBLEM

This research work is concerned with the relevance of computer networking in the Nigeria banking industry using first banking of Nigeria plc Ovoko Nsukka 2005-2012 as a case study. This relevance of computer networking in banking industry is process that must be tackled with every amount of vague by banks in order to minimize undue delay in banking operations.

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