AN EXAMINATION INTO THE FUNCTIONS OF ELECTRONIC BANKING ON THE DEVELOPMENT OF NIGERIAN ECONOMY
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
Background Of The Study
Before the emergence of modern banking system, banking operation was manually done which lead to a slowdown in settlement of transactions. This manual system involves posting transactions from one ledger to another which human handles. Figures or counting of money which should be done through computers or electronic machine were computed and counted manually which were not 100% accurate thereby resulting to human errors. Most bank then use only one computer in carrying out transactions which ameliorate the sluggish nature of banking transaction.
According to Adesida. (2018) in his Academic dictionary of banking, electronic banking is defined as a form of banking in which funds are transferred through an exchange of electronic signals between financial institutions, rather than an exchange of cash, cheques or other negotiable instruments. According to Agbada , (2018) defines electronic banking as a system in which funds are moved between different accounts using computerized on line/real time systems without the use of written cheques. According to Agboola. (2021) in international Journal of investment and finance, electronic banking is defined as a system by which transactions are settled electronically with the use of electronic gadgets such as ATMs, POS terminals, GSM phones, and V-cards e.t.c. handled by e-holders, bank customers, and stake holders. In the Nigerian monetary system, the Central Bank of Nigeria (CBN) is pursuing the cashless banking system that would see the co-existence of cash and electronic money and the policy document on cashless economy detailed out the following implications:
Reduction in cash transactions to both the banks and their customers;
Expansion in vault cash;
Expansion in the credit creation process;
Expansion in the involvement of the informal sector in the banking process. CBN (2011)
These implications follow directly from the surface of the policy but there is the need for a deeper and economic analysis of the introduction of the cashless banking or cashless economic paradigm and its attendant implications as far as the attainment of advanced economic objectives are concerned.
Related Project Materials
An investigation of digital marketing analytics on campaign effectiveness in banking: a case study of Access Bank Nigeria
Background of the Study
Digital marketing analytics have become indispensable in measuring and optimizing campaign effectiv...
MEDIA AND CREATION OF POLITICAL AWARENESS
ABSTARCT
This study was carried out on the impact of media in creating politi...
An Appraisal of Online Food Tracking Applications and Their Impact on Dietary Adherence in Gombe State
Background of the Study
With the rising prevalence of diet-related diseases such as obesity, diabetes...
MODERN BIOTECHNOLOGY AND DIGINITY OF HUMAN LIFE; AN ETHICAL ANALYSIS
THE PURPOSE OF STUDY
The real question is what has this work to contribute to the global debates on the issue of human c...
An Assessment of the Effectiveness of Career Counseling in Guiding Nursing Students’ Career Paths in Imo State University College of Nursing
Background of the Study
Career counseling plays a vital role in helping students make informed decisions about their future professions....
Analyzing the Influence of Media Ownership on News Framing in Sokoto North Local Government Area, Sokoto State
Background of the Study
Media ownership plays a critical role in shaping the content, tone, and framing of news stories....
An appraisal of the environmental implications of plastic waste accumulation in Enugu North Local Government Area, Enugu State
Background of the study
Plastic waste accumulation has emerged as a global environmental issue, with significant local imp...
The Role of Journalists in Strengthening Accountability Through Ethical Reporting in Zaria Local Government Area, Kaduna State
Chapter One: Introduction
1.1 Background of the Study
Journalists play a pivotal role in fosteri...
The Effect of Ethical Sourcing on Supply Chain Sustainability: A Case Study of Seven-Up Bottling Company in Jigawa State
Background of the Study
Ethical sourcing refers to the practice of procuring goods and services in a responsible and sus...
An Evaluation of the Impact of Regional Integration Policies on Trade Between Gombe and Neighboring States
Background of the Study
Regional integration policies aim to foster closer economic, political, and social ties between...
