Appraisal Of The Effect Of Information Technology On Accounting System In Nigerian Banking Sector

ABSTRACT

 The study titled appraising the effect of information technology on the accounting system in the Nigerian banking sector has been concluded. The purpose of the study was to find out the reason for persistent complaints from customers as regards IT system of banking (ebanking) in Nigeria; identify the challenges facing effective implementation of electronic banking system in Nigeria; and evaluate some factors that could help to mitigate these identified challenges of electronic banking in Nigeria. Research questions and hypotheses were formulated and tested at 0.05 level of significance using the t-test statistical method and analysis of variance (AND VA). A blend of descriptive survey method was employed with a sample size of 100 respondents. Data were collected with the aid of designed questionnaire while Statistical Package for Social Sciences (SPSS) version 15.0 was used in analyzing the data collected. The result indicates that poor level of security, frequent power outages during transaction, frequent downtimes of ATM machines and poor interconnectivity among banks on online platforms among others are the major causes of persistent complaints from customers as regards the use of IT (e-banking) in Nigeria. The study however, concludes that power cuts during transaction send wrong signals about e-banking and poor regulation of the e-banking structures is a limitation of banking in Nigeria and must be rectified in order to restore the initial confidence of users. Finally, the study recommends that critical infrastructure like power; security and telecommunication should be strengthened to ensure the application of electronic banking in Nigeria and optimum satisfaction on the part of customers.