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1.1 INTRODUCTION
As we move into the 21st Century, banks all over the world
1
1.2 STATEMENT OF THE PROBLEM
the energy sector; yet, the banks still have a long way to go in
communication links.
growth in ICT.
tax (PAT)
industry
3
1.4 RESEARCH QUESTIONS
on customers’ patronage
HYPOTHESIS 2
H0: Adoption of ICT by Intercontinental bank has not
improved customer’s patronage
HA: Adoption of ICT by Intercontinental bank has improved
customer’s patronage
HYPOTHESIS 3
H0: There is no variation of growth in ICT systems
4
HA: There is variation of growth in ICT systems
HYPOTHESIS 4
H0: Growth in Intercontinental Bank’s performance is
independent on ICT
5
1.7 JUSTIFICATION OF THE STUDY
banks), has been a strong driver for ICT adoption. Firms are
head office).
6
Today, the mere possession of online real-time technology is
in the sector. The role of ICT has evolved today, where banks,
7
inter-organisational and inter-country communication in most
pass it by.
Recommendations.
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CHAPTER TWO
2.1 INTRODUCTION
has been one of the most essential and most important factors
10
branches and some of the banks have initiated home banking
during the same sampled period. The lower return from ICT in
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compounded by the low ICT literacy level among the
population.
The idea that modern ICT services and policies have positive
Growth”.
12
a. what is the share of ICT sector in the principal macro-
exports)?
key variables?
13
Source: CBN Economic and Financial Review September,
2006 and NITDA
Africa (BWA) merged with the bigger bank, the Standard Bank
apartheid Nigeria.
At the end of World War II, another foreign bank, the British &
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Nigeria in 1949. From 1956, it was simply called the British &
French Bank. In 1961, the bank was renamed the United Bank
for Africa (UBA) with the French, Italian, British and Dutch
companies as shareholders.
firms.
15
management, the bank known as the Industrial and
In short, between 1947 and 1952, there was a rush to fill the
and of all the 185 banks registered between 1947 and 1952
only 25 survived.
banks collapsed. This was the first attempt to put down the
are the Banking Act of 1958, 1969 and the Banking and Other
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Financial Institution (BOFID) Decree No. 25, 1991 and the
amendment.
17
economy of scale. It is evident that the adoption of information
cumbersome.
the studied banks took place within the last five years.
use before 1998. The reason for the early adoption of MICR
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rising operating cost. In view of the enlarged scope of the
20
The Nigerian banking industry has demonstrated a fair amount
successfully.
they have realized that one way in which they can provide
operations. This has brought to light, the fact that ICT has
21
the market size is not really increasing, has made banks more
rate, and there are now far more employees, larger customer
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the late 1980s. This has brought an increase in the need for
Despite the fact that many of the new generation banks based
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these incessant downtimes. IT fraud also, is a major problem
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in 2008. At the wholesale payment segment the CBN Inter-
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2.8 BACKGROUND INFORMATION ON INTERCONTINENTAL
BANK PLC
The bank was founded in March, 1989 as the Nigerian
of the market, with its pre-tax profit of N592.6 Million for the
its group profile result surpassed the One Billion Naira mark in
26
which in turn has a majority stake equity stake in an insurance
firm, WAPIC Insurance Plc. The bank has sustained its strong
mobile phones.
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competitiveness through market segmentation, customer
this competitive trend within the sector suggests the need for
cards were the early enablers to reduce the need for front-
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desk service workers like cashiers etc, the internet now offers
maintenance)
v. Statement
vi. Requests
31
Control measures are usually used along with these options in
units).
32
- Customers’ liabilities report
deposits trends)
- Budget models
33
accurate returns are made automatically to the interested
Million
35
2004 21,653
2005 52,598
2006 161,357
2007 262,536
2008 435,457
base which in turn help the bank create new and better
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CHAPTER THREE
remain viable in the 1990s and the decade that follow. They
in ICT over the years. The quest for survival, global relevance,
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general, most of these studies covered developed nations. The
40
Niininen, P, (1998), estimates the contribution of ICT to
especially during the mid 1990’s and concluded that all the
over the period 1980 to 2000. The empirical results show that
41
growth over the study period in most countries which later
2002. Their results show that ICT had a strong impact in the
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processing and recording. Information and communication
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processing. It is capable of encoding, reading and sorting
cheque.
account is domiciled.
out that while most of the banks in the West and other parts of
the world have at least one PC per staff, Nigerian banks are
45
lagging seriously behind, with only a PC per capita ratio of
Frazer, 1985).
46
3.2 TELE-COMMUNICATION AND ECONOMIC DEVELOPMENT
In the past, capital, labour and raw materials were regarded as
regardless of distance.
47
and between countries and organizations is critical to
competitive advantage.
since early 1990s and now has an estimated 160 Million users
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worldwide. It has become the fastest, cheapest and
telecommunication infrastructure.
Most of Nigeria’s roads are bad and do not promote fast and
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has been a sustained increase in firm-level productivity
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frame, allowing efficient technical learning and absorption on
growth model.
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industrial growth, not from more capital investment, but from
human capital
new design
∆A = F (KA, HA, A)
55
Where, ∆A is the increasing technology, KA is the amount of
technology.
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CHAPTER FOUR
4.1. INTRODUCTION
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The indicators used to analyse major findings of this research
PERFORMANCE
INDICATORS
LOANS &
BANKS’
ADVANCES
ICT SYSTEMS
FIXED
TELEPHONE
LINES
CUSTOMER’S
DEPOSITS
(PAT)
expected to lead to growth in Intercontinental Bank’s Loans &
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Due to constraints imposed by unavailability of secondary
aspects:
ICT.
After Tax.
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Table 4.51: Fixed/Mobile Phone Lines Subscribers
Before/After GSM Liberalization
Year Fixed % ∆ in Mobile % ∆ in
Telephone Fixed Lines Mobile
Lines telephone Lines
Lines
1995 405,073 - 13,000 -
1996 405,073 0.0% 13,000 0.0%
1997 415,400 2.5% 18,000 38.5%
1998 415,400 0.0% 18,000 0.0%
1999 473,316 13.9% 35,000 94.4%
2000 553,374 16.9% 35,000 0.0%
2001 600,321 8.5% 266,461 661.3%
2002 702,000 16.9% 1,569,050 488.8%
2003 850,000 21.1% 3,100,000 97.6%
2004 1,120,000 31.8% 9,200,000 196.8%
2005 1,223,258 9.2% 18,587,00 102.0%
0
2006 1,563,028 27.8% 32,325,78 73.9%
5
2007 1,579,664 1.1% 40,395,61 24.9%
1
2008 1,879,495 18.9% 57,608,87 42.6%
7
Source: National Communication Commission (NCC) &
International Telecommunication Network (ITN)
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Figure 4.51:
60,000,000
From the above analysis in Table 4.51, the higher the number
of telephone lines (fixed & mobile), the more likely there will
50,000,000
be improvements on the banks’ performance. The figure
42.6% respectively.
62
Figure 4.52:
500,000
450,000
harnessing its full benefits in 2003 has
400,000
increased from 12,602 in 2003 to 21,653 in 2004, representing
350,000
2004, corresponding to a growth rate of 31.8% and 196.8%.
performance.
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Figure 4.71:
1,200,000
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Figure 4.71:
40,000
35,000
potential for business process re-engineering of the Nigerian
30,000
reconciliation and balance enquiry. This factor brought about
2006, it was 7,215 and the highest PAT of 34,773 was attained
This study revealed that the period between 1990 to 2008 was
68
years. Although, the advent of GSM has increased
telecommunication infrastructure.
CHAPTER FIVE
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SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 SUMMARY
personnel, have more installed base per PC, LANs, WANs and a
5.2 CONCLUSION
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It is also revealed that telephones, computer systems, LANs,
ICT in Nigeria.
5.3 RECOMMENDATIONS
of ICT; some banks were at the cutting edge of ICT and have a
development.
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In order to fully harness the increasingly returns and network
expensive.
The research also brought to light, the fact that ICT has
the market size is not really increasing has made banks more
high and in response, banks use ICT to satisfy the demand for
addressed.
REFERENCES
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Agboola, A. A. (2001) Impact of Electronic Banking on
Case?
46
74
Ego-Orusa, H. A. (1997) “Development Myopia-technology and
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Harold, B and Jeff, L (1995) Don’t Let Technology Pass You By;
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Lau, L. J. and I. Tokutsu, 1992: The Impact of Computer
Publishers
76
Piatkowski, M., (2003); The Contribution of ICT Investment to
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Washington, D. C.
77
Woherem, E. E. (1991), Information Technology and Africa: An
Appraisal.
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