THE ROLE OF COMPUTER IN PROMOTING THE EFFICIENCY IN NIGERIA COMMERCIAL BANKS

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THE ROLE OF COMPUTER IN PROMOTING THE EFFICIENCY IN NIGERIA COMMERCIAL BANKS

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND TO THE STUDY

There is no doubt that recent development in banking industry relating to computerization banks including First Bank Plc Enugu, attracts comments from various organization, individuals government etc. in the society, hence many have written on the problems, benefit and prospects of computerized accounting system in Nigeria. Based on the views of some scholars, one learnt that computer has been found to be very important machinery that has not only facilitated banking transactions in banking industry but has helped in the large number of its customers. However, base on our views one could write under the following areas base on ones analysis. Pre-computer era in banking system, brief history of computer. The working and component of computer, computer era and banking operation, meaning of computerization in relation to First Bank Plc Enugu, benefits derivable of computerization.

The general observation in the past, regarding data collection and processing has been done partially, but as business advances as they are today emergency of computerized data collection, storage, analysis and application has become necessary. This development in business growth and expansion required good and efficient commutation facilities. Consequently Nigeria as a rapid growth in her economic social and political spheres cannot afford the risk of poor documentation as a result of ineffectiveness in data collection and storage. Henceforth the need for computerized system in her activities has become necessary due to the increased volume of business, which involves a lot of record –keeping and information. Beside it helps to avoid time wasting exercise. Computerization led to the development of the country especially in the business sector including banking where such services are needed especially First Bank Plc Enugu.

Generally, according to Adenumi (2014), there is need for quick and accurate decision to be taken among various banks especially, in new generation banks. This is important in areas like monitoring as well as other vital activities concerning the banking operation. Banks must react quickly to changes in interest and other vital variables in operation. In the past, a large but manageable amount of book-keeping in banks was handed manually, but due to the expansion in Banking industry the huge labour force will be needed to take today’s massive volume of book-keeping. It is not surprising that most banks have resorted to the application of computer in some of their activities especially First Bank Plc. Enugu with sophisticated computers designed to meet their needs as well as their customers.

1.2 STATEMENT OF THE PROBLEM

With the sudden increase activities as a result of oil boom in Nigeria, customers could no longer have patient while trying to transact business with the banks. The pressure on banks to access information becomes inevitable. The manual operations of banking were change into a more complex ones which emphasized the availability of information at the shortest possible time. This means that the use of manual operations is inefficient and in some cases lead to loss in banking service. A customer could sometimes stay in the bank for almost the whole day just to cash or deposit money. Furthermore, the increase in business activities is not favourable with the use of manual operations and could not guarantee time. There has been a manual process to things that will make banking service not easy and time wasted, and computer seems to be favourable means of rendering those services to customers. Despite the importance of computers in banking system, there is the problems confronting its operation, they are:

i) Lack of steady and regular power supply

ii) Lack of total commitment on the part of data processing consultants.

iii) Attitudinal problem

iv) Inadequate supply of computer programmers.

1.3 OBJECTIVE OF THE STUDY

The objectives of the study were as follows:

(i). To find if computer have any effect in promoting efficiency in the Nigeria commercial banks especially First Bank Plc Enugu.

(ii). To know if computer has any significant influence on the time spent by customers in banking transactions.

(iii). To find out if improved computerized system of First Bank Plc Enugu has succeeded in attracting customers to the bank more than other banks.

(iv). If computer has any significant influence on fraud limitation.

(v). To know if computerized banking has any effect in the preparation of statement of account of customers.

1.4 SIGNIFICANT OF THE STUDY

ODO (1992) states that the significant of a study, simply means how the different users and renders of the protect will view the study. In the right above therefore, this study will be great of benefit to the operations in form of financial business because most important use of computer enhances the performance of their operations. Again the study gives insight into the problems and prospects of using computer in banking operations. Improvement in banking operations as a result of the computers will not only help satisfy customers effectively and efficiently, but also will help the banks to make greater profit.

1.5 SCOPE OF THE STUDY

Basically the work, which involves the computer in banking industry, will take on in-depth look on how computer is being applied by banking operations. Again the study will limit to First Bank operation within Enugu State, and scientist to handle the operation of those computers. Solution to these problems and many more are the central task of this research.

1.6 LIMITATION OF STUDY

There is no doubt that research work in country is fraught with problems. This is because the government, individual and organizations do not give the necessary encouragement desired to research. The study of role of computer in new generation banks like First Bank Plc, Enugu also present some problems because secrecy and restrictions guiding the use of such computer is not well expose. This certain relevant information as well as specimen documents required could not be procured.

REFERENCES

ABATSON J. M. (2017): COMPUTER LITERATURE; ENUGU GARBAGE OPTIONAL VENTURES. P. 61 – 213.

MADU F. N. (2014): RESEARCH METHODOLOGY FOR SOCIAL SCIENCE AND BUSINESS STUDIES ENUGU ASSOCIATE PRESS P. 20-25.

FEDRICK, G. & THOMPSON F. (2015): BASIC ELEMENT OF COMPUTER APPLICATION, LAGOS; BUTTER WORTH PUBLICATION.

ABAHSON J. M. AND OKPA, J. A (2017): COMPUTER METHODOLOGY ENUGU SUNNY VENTURES PUBLICATION.

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