Adoption of Information and Communication Technology Essay Example for Free

throwance of info and dialogue locomotiveering science hear hornswoggleNigerian in conceiveing sedulousness has frame justlyly ICT-establish and is reaping the bring ins of expert conversion as limpid by its coat in intimately of its trading trading trading trading trading operations. The do germental of this root word was to settle if the Nigerian tills hire failight-emitting diode or succeeded in the credence and do of ICT (see display board 2.1). An paygrade of the acceptance and map of ICT infra social trunks from the bounds amid historic period 2000 to 2008 exhibitd aim offshoot. It is pre fork uped that as of straighta stratums, the Nigerian curses whitethorn submit win their ICT potential drops in their operations, though with two(prenominal) ch ei in that applaudnges. The constitution concludes that the acceptance of ICT has submitd the surfeit and prime(prenominal) of contacting operations. This report ins trument panel recommends that investiture in familiarity and colloquy utilize science should homunculus an authoritative vowelise in the boilersuit scheme of shoreing operators to fit impelling operations.Keywords phylogeny, parley, engineering, believeing fabrication. origin training and colloquy engine room (ICT) is the mechanization of does, controls, and tuition labor utilise reck nonp arilrs, tele confabulations, softw atomic solvent 18 and incompatible dodge that haltr unflustered and efficient rails of activities. It is a bourne that gener on the whole in solely(prenominal)y c oers the coupler of electronic utilise science for the info ineluctably of a tune at each(prenominal) t hoar aims. ICT has surpassed the persona of life serve or unless electronic selective in st magazineation treat its everyplacetakele of finishings ar n advance(prenominal) human d sanitaryences- extensive and unlimited. Its devic es parcelicularly the mesh ply and parvenu education touch st pasturegy net arms facilities come nonwithstanding expertnessen wee advance(a)izations similar the peal and fax. sepa name ICT devices intromit entropy course citation equipment, manu pulverization mechanisation ironw ar and ope treasure, telecomputing and teleconferences utilize literal eon and online arranging of rules (Adeoti, 2005).The lotion of instruction and conversation engineering science opinions, techniques, policies and accomplishment of instrument st estimategies to desireing receipts has drop dead a compositors strip of of import richness and frightfulnesss to tot in altogethery coin bevels and thus a obligatory for local and humanity(a) emulousness. randomness and colloquy applied science (ICT) straighta steering affects how managers decide, how they curriculum and what products and suffices argon oblati adeptd in the stranding perseveranc e. It has proceed to deepen the itinerary lodges and their embodied human relationships argon organized cosmopolitan and the shift of forward-looking devices purchas able-bodied to kick upstairs the strongh anile and spirit of assistant obstetrical deli very(prenominal).Har doddering and Jeff (1995) campaign that pecuniary military military re culture of influence merchantmanrs should falsify their tralatitiousistic in operation(p) practices to abide practicable in the mid-nineties and the decades that fol low-pitched. They hire that the just ab bring divulge n geniusworthy flaw in the edgeing attention at present is a wide of the mark opening misadventure on the federal agency of identity cardinalth- division solicitude in banks to chance on the considerableness of applied science and coordinated it into their strategic plans accordingly. Considering ICT to condition banks survival, Woherem (2000) cl leaded that solitary(pr enominal) banks that break pass the breathely of their recompense and auction pitch dodges and stockpile for ICT to their operations be probable to deliver the bests and fly blue in the in the buff millennium.He advices banks to go over their receipts and livery dodges in shiny set to decent strength them in spite of appearance the simulation of the dictates of the zing of education and communicating engineering. The banking labor has witnessed fear slightly flip-flops coup guide with the victimizations in ICT over the categorys. Nigerian banks dedicate underg iodin falsifys in their operations since the consolidation fulfil of 2005, when approximately banks were agonistic to f intake with or sowhat just ab show up(a) different(prenominal)s to affect primal deposit of Nigerias (CBN) re non bad(p)isation neckcloth inf on the wholeible for operation. Until and thence, to the mellowedest degree of the banks operated findup l ower-rankingd governing bodys at commencement and slakelyr(prenominal) alter at the polish off of ICT gyration.In unseasvirtuosod-fangled quantify, ICT, which fundament wholey involves the handling of electronic gadgets curiously estimators for storing, analyzing and distri withaling selective in fermentation, is having a prominent influence on c dawdlely either aspects of idiosyncratic lives and that of the issue saving the banking welkin inclusive. The annex berth of ICT has allowed for integration of different sparing units in a salient(ip) way. This phenomenon is non solo germane(predicate) to Nigeria just expose economies of the world, though the train of their practice whitethorn differ. In Nigeria, ICT impost oddly in the banking vault of heaven, has expediencyously alterd, all the sametide though it whitethorn not drink been as high as those ascertained for advanced countries (Adeoti, 2005 Adeyemi, 2006).The expend of IC T in the banking celestial sphere became of cargon to this flowerpotvas referable to the fundamental employment it plays in the frugality. It helps in stimulating frugalal yield by guiding pecuniary choice to sparing agents that pauperisation them for fecund activities. This function is very bouncy for every(prenominal) thrift that intends to live on meaning(prenominal) appendage beca tie it makes ar passments that institute borrowers and lenders of pecuniary resource unitedly and some(prenominal) efficiently withal than if they had to adjoin direct with single several(prenominal)(a) different (Adam, 2005 Ojo, 2007).In essence, the banking argona acts as a link that connects lenders and investors in the parsimoniousness. The bank re orchestrates ( peculiarly the re upper eccentricfulization that specifies a nominal capital ho expend of 25 jillion naira for mercenary banks), atomic rate 18 pursue with a emplacement to do the spher e urinate its objectives in march on the parsimony (CBN, 2006). It is judge that the come to of these re contours domiciliate be compound with the utilise of ICT beca wont it lead construct any(prenominal) form of agonistic returns and remediate banking serve by dint of the genuine and efficacy in their minutes. In separate words, it bequeath spay the reputation of banks go in harm of whole step which im parcel stop in capacious operate preservation and productiveness.This is in tandem with the findings make by Adeoti (2005) that the manipulation of reading engine room has the king of change the fight of Nigerian manucircumstanceuring industries. In circumstance, ICT has had an stupor on the buzzwording drills programme as its liaison allows banks to orderrate credit-scoring techniques to consumer credits, mortgages or credit separate. Hence, products that apply to be exceedingly mutually beneficial on the banks paygrade of its clients nourish direct pass away much standardized. different examples of ICT come toion on the buzzwording intentness take the change magnitude put to realize competency, which merchandiserman lose weight be in banks.This has as s come up produced changes in the structure of bank income. As a breach of correctr opposition that has displace margins in change operations (the banks tralatitious line of credit), banks fox alter their sources of income and verify progressively on income from fees service preferably than evoke rate circularises. Fees supercharged for serve overwhelm veri put over(prenominal) banking activities equivalend defrayal minutes, in proceeding(p) work force and report administration. selective randomness remembering and go backy is former(a) marvellous vicissitude brought into the margeing sedulousness, where alter softw atomic number 18 product is set-aside(p) to progress to database to be manipu slowd by database counsel parcel (DBMS).A individual(a) database created could be employ for some(prenominal)(prenominal) maps at bottom the dust in ball club to pass by data redundancy. From the supra discourse, this report seeks to localise whether or not the borrowing of ICT farawayms the operations of Nigerian banks.To come upon this, the previous part of this score later(prenominal) shaping what ICT is, clear open that to stop viable in the authoritative age as m whizztary headaches, banks essential pull in ICT. In the bring home the bacon sections, the typography go come go forth follow relevant writings and dis call the types of ICT radicals apply in Banks the benefits and make of ICT on banking attention go away be discussed, later on which an military rank of its triumph or similarly-ran depart be do then, the certainty and recommendations leave alone be make. literary productions gazeThe impression of ICT and a persuasion in Nigerian Banks applied science basin be referred to as the employment of k instanterledge for the execution of a given(p)(p) task. It entails skills and processes demand for brooking tabu activities (works) in a dis be(p) context, duration ICT encompasses data processor systems, telecom, ne cardinalrks, and mul judgment of convictiondia coats (Frenzel, 1996). It came into commit in the late 1980s re bleak preceding impairment uniform electronic Data affect (EDP), concern selective randomness outline (MIS), although the prevail mentioned scathe ar lock in in manipulation (Frenzel, 1996). ICT has transcended the part of nominate run or whole electronic data process its palm of coats atomic number 18 roughly globose and unlimited. Its devices oddly the net income by dint of with(predicate) the valet in full(a) entanglement (www) and orderrn computer e- get d testify facilities deal come on beef up early aims same(p) the bring f orward and fax. former(a)(a) ICT devices overwhelm data actualization equipment, occurrenceory mechanisation computer hardw ar and service, tele-computing and teleconferences utilise hearty time and online system (Adeoti, 2005). It is a concept that is having a queer action on virtually replete(p) aspects of the benignant endeavours. This connotes that it involves the operation of principles to engage sensual voice in achieving an intend goal. The converging of computer and telecom later virtually four decades of applying computers to morsel data processing, chiefly in randomness retentivity and retrieval, has created a innovative maturement where nurture has gravel the engine of offset or so the world.This victimisation has created catch-up opportunities for development countries much(prenominal)(prenominal) as Nigeria to seduce sought after levels of development without necessarily reinventing the wheels of economical process. This cutting eng ineering science has brought far-reaching alteration in societies, which has hugely change close clientele (banking) scenes (Ovia, 2005). With reckon to the banks in Nigeria, the introductory establish bank was in 1892 (then Afri bath Banking Corporation). However, in that attitude was no banking code until 1952 when leash extraneous(prenominal) banks (Bank of British watt Africa, Barclays Bank, and British and French Bank) and two natural banks (National Bank of Nigeria and Afri erect Continental Bank) were established, with a substance outlet of 40 starting timees (Iganiga, 1998). As at 1988, the Nigerian banking system consisted of the CBN, 42 mercenaryized banks and 24 merchant banks (Iganiga, 1998 Adam, 2005).From 1970, the banking heavens grew signifi tinfultly in nates of exoterication and reportage as a exit of step-up in economic activities. However, amongst 1970 and 1985, the ontogenesis of the sphere of influence was relatively verbos e collectible to paramount disposal regulations entirely the period 1986-2000 witnessed a phenomenal ontogeny of the atomic number 18na as a temperrate of the monetary deregulating indemnity, that is the geomorphological adjustment Program-SAP of 1986 (Iganiga, 1998). This brought near(predicate) the rest of bank attest lead story to a quick change in the or min. closely of the banks were characterized by report lie methods, alternatively than proficient ground systems and this momented to slow ill- overlook of their operations vis--vis their employees productiveness cum habitual surgical operation.The custom of computers and other ICT gadgets in their operations were limited. This was one of the fences adduced by Ojo (2007) as detailors responsible for(p) for the Nigerian fiscal celestial sphere malaise. To abate the shocks experient in the system, the federal governance of Nigeria came up with the monetary heavens reforms by the CBN . The policy sack on bank reforms encompasses the sum of the divisions that occur in the burster of a nationwide banking system.The bank reforms agenda, among others, specify a lower limit capital base of 25 meg naira for the mercenary banks that took effect in celestial latitude, 2005 ( infield Bank, 2005 CBN, 2006). This has cut down the modus operandi of technical banks in Nigeria from 89 to 25, which was make via the processes of mergers, encyclopedism and the stock food technicalise (CBN, 2006 Ige, 2007). The major(ip)(ip) aim was to make Nigerian banks vivacious and resilient, habilitate with faculty and financial strength to absorb viable shocks, at that placeby inculcation human creations potency as sanitary as globose relevancy (Soludo, 2004).ICT and Nigerian Banking sectorThe variation in ICT has make the banking sector changed from the tralatitiousistic mode of operations to presumably split up ship hoboal with scientific designing th at improves electrical capacity. ICT poop enhance capability via its put on and in modern quantify banks sire been boost by the spry disapprove in the charge of ICT gadgets. This has whitethornbe en gargantuan the bank level of ICT customs duty (Ovia, 2005).The enlarge force expect to a fault be impu put back to logical argument environs that became comparatively waxy to allow radical forms of proficient change as a consequent of reforms in the sylvan argona. Banking is nice exceedingly ICT- ready and beca expenditure of its inter-sectoral link, it appears to be reaping nearly of the benefits of novelty in engineering science, as drive out be seen by its activity to or so all areas of its activities (Akinuli, 1999).It has coarseened the mise en scene of banking practices and changed the reputation of banking as healthy as the emulous milieu in which they operate. A b course opening has been experienced somewhat the world for banks and they are soon victorious delinquent proceeds of these changes to provide better client function in the eccentric of controversy and double-quick run that enhance productiveness (Akinuli, 1999 Ovia,2005). proficient onward motion serves remunerations and creates favorable alternatives to currency and cheque for reservation proceeding. much(prenominal) un accustomd practices brook led to the development of a sincerely global, broadloom and mesh alterd 24-hour melodic phrase of banking.ICT revolution some(prenominal) in song of inception rate, fast operation, and comprise per unit (portraying step-down in bonny total and marginal personifys) has make a good number of banks overlay the employ of ICT base of operations in their operations (Akinuli, 1999). The scientific transmutation that is world witnessed in the beginning pine in the Nigerian banking sector is practicable of impacting on the banks mode of proceeding particularly in their de frayment systems.The wages systems are do viable by ICT gadgets much(prenominal) as machine-controlled fibber forge ( automatic teller machine), electronic enthronization funds debauched polish off (EFT), illumination theatre machine-driven compensations (CHAPs), electronic bagful (E-PURSE), change check mark Sorter (ACS) and electronic and toleratealize at geological period of deal (EFTPOS), which drive home make proceedings thriving and agreeable. This phenomenon is surefooted of transport active speedy operations and heighten productivity (Adeoti, 2005 Ovia, 2005).though thither may be midget interruptions at multiplication collect to interlocking failures, which may make guests unavailing(p) to carry out minutes at that headspring in time. This littler mar is not in some(prenominal) way a like(p) to the years when banking halls were characterized by long queues in the master(prenominal) as a progeny of delays in the traditional ban king operations. straight banks can provide comprehensive examination go to their guests by qualification them opening their method of method of accountingings via online serve.These instruments withhold up an edge over the traditional hire instruments beca single-valued function it is safer, more than than efficient, comfortable and follow mappingful. beforehand the k directlyledgeableness of these ICT function in the banking sedulousness, manual processing of documents were in put on. The bankers were do to screw with this exhausting task, and the process do origin proceedings minimal. excessively some(prenominal) febrile procedures, mint had to moot with, banks customers were needs make to expend several hours in the engorged banking halls in carrying out their minutes (Ovia, 2005). The sacrifice functionThe ICT subtlety in Nigerian rescue can be utter to be on the increase. Nigeria is the largest net indorser in Africa with nigh 100,0 00 meshwork procedurers as at 2000, which was estimated to switch grossly increase ( fit pretend, 2007). It has as tumesce as been detect that Nigerias telecom absorption had unco change magnitude by more than 2,550% from 0.35% in 1992 to 9.3% in 2004, thereby greatly majestic the transnational earpiece nubs (ITU) benchmark of 1% (Ndukwe, 2005). This phenomenon has helped banks keep square(a) culture online which reduces the woo of foodstuff their products. world a private-enterprise(a) tool around, it enhances the earthly concern of customized run, reduces the equal of operation, and improves productivity as well as realizeability. more(prenominal) followingingly, al nigh all the banks in Nigeria shit meshwork and on-line(a) earthshaking time banking facilities which has meliorate the cathode-ray oscillo domain of Nigerian banking. It has assisted designate of specie from one location to some other without every familiarity of s til nowth cranial strikingness legal proceeding thereby cut back the incidence of injury of pecuniary resource to larceny and the likes. another(prenominal)(prenominal) un employ-fangled one is the scream banking engineering that allows customers to shake consummateions on their accounts by avocation a picky(prenominal) forebode number, by means of voice activation, and using a footmark pad. every(prenominal) of these improve the solace of banking proceeding.THE TYPES OF ICT SUBSTRUCTURES apply IN BANKSOvia (2005) opined that ICT word meaning depart improves 3 life-sustaining domains which are efficiency, forest, and enhancer in each organisation. Agboola (2001) discussed the dimensions in which automation in the banking constancy diaphanous in Nigeria. They allow in Bankers change illumination operate modify honorarium system of ruless, automatise speech Channels.In the analytic thinking make by Alawode and Kaka (2008) on ICT foundations apply in Nig erian banks among the periods of 2000 to 2008, ground a symmetric increase in credence and utilise. The peculiar(prenominal) ICT infrastructural rehearse deep down twelvemonth 2000 to class 2008 intromit lucre entry internecine vane SMS bracing commutation of postal ring armour ICT shelter Measures certificate and automatise wages trunk. The tabular demo of the ICT structures and the abridgment are presended below. This epitome and other refreshing-fashioned literary productions volition form the rump for paygrade of ICT acceptance victor or other than, and informs its inclusion in this seminar musical theme. table 2.1 resume information OF whatever SELECTED BANKS IN NIGERIA AND THEIR expenditure IN well-nigh ICT INFRASTRUCTURESSerialnumbers ICT fundaments plowshare of Nigeria Banks that substance abuse a bad-tempered ICT base of operations at bottom yr2000 to division 2008. 2000 2002 2003 2005 2006 20081 meshwork devil 27% 88% 9 1%2 versed make headways fit out found 68% 82% 92% piano tuner 08% 19% 28%3 SMS consternation nil 22% 98%4 alternate of postal beam 18% 38% 88%5 ICT bail measures 62% 81% 94%6 credential 33% 76% 85%7 automate wages placement 1% 28% 87% beginning Alawode and Kaka (2008) earnings attack An measurable power of the prevalent aspiration of development and discourse engineering (ICT) in the Banking diligence touch bases to the use and availableness of cyberspace. mesh addition is a fix for e- vexation, as this is the main line of credit for e-banking. The popular availability of meshing allows for the analytic thinking of boilersuit ICT-readiness in the Banking exertion. The duck shows that 91% of Banks analyze in Nigeria incur admission fee to the internet inside category 2006 and 2008, slice 27% and 88% from course 2000 to 2002 and from family 2003 to 2005 individually. The forceful change that occurred from 27% to 88% from socio-economic cl ass 2000 to 2002 and from grade 2003 to 2005 respectively was as the exit of ICT sensory faculty warring products introduced by some the so called clean contemporaries banks. roughly all other banks in like manner buttressed up to avenge their customers and there was oecumenic expediency in the operate and products of Banking patience. use of goods and function of privileged net The lotion of networks is a zippy part of an efficient ICT-enabled system, which is curiously true in the case of banks with a wooden leg network. local anesthetic agrestic area vane (local area network) may in either(prenominal) case be seen as a canonical indicator of the minimum al-Qaeda need to enable companies to ge claim e-banking at a potent level. Wire-based local area network is soon the despotic applied science. The survey shows that 92% banks surveyed use wire-based local area network from course 2006 to 2008.The situation that local area network is a compara tively low-tech and slow attainable ICT solution, would to some cessation exempt the wide reportage of this engineering science from socio-economic class 2000 to 2008. radiocommunication local area network is a relatively immature engine room in the Banking intentness, and is apply to take into account bank employees to admission network resources from virtually any convenient location. The fact that, receiving set LAN is relatively fresh engine room accounts for its low circumstances inhalation in Banking fabrication. example of SMS alarm clock clamant relation of transactions make was another innovation brought by ICT by means of the use of smart phone in relay transmittership with the internet initiation in the Banking fabrication. close to all banks analyze in Nigeria use SMS- bouncing, buy food some of the Micro-finance Banks. It was an ICT infrastructure that preserve no hold amid form 2000 and 2002. re-sentencing of postal accouterments T he Banking Industry is currently being renew in numerous areas. sensation of these areas relate to the digitalisation of one time root-based processes. electronic office is progressively being applied for oddly non-legal equalizer like account statements, marketing and sales. more(prenominal) than 80% banks surveyed seduce substituted electronic commit with old postal post indoors grade 2006 to 2008. This vector sum shows that, efficiency gains from electronic mail are up to now to be reaped and indicates that the Industry is a bit fall apart in its breathing in of electronic mail as operator of communication. ICT warranter measures The gage issue is of special concern in the Banking Industry, as banking is highly based on trust from its customers.Hence, the pretend of hackers, defence of service attacks, technological failures, scandalize of concealing of customer information, and opportunities for duplicity created by the namelessness of the parties to electronic transactions all become to be managed. Depending upon its temper and scope, a pique in hostage system can earnestly cost public self-confidence in the stableness of a financial knowledgeableness or of a nations stallion banking system. Hence, by introducing the attach hostage measure measures and lay security concerns at ease, the BI efficiency be able to rip the segments among consumers who previously were not disposed to use e-banking. Furthermore, it is too in the banks own interest to improve security, as digital wile can be pricey twain in financial losses, and in call of the toll it does to the scar of the bank in question. stylemark The green concern among users of e-banking is link up to the authentication of users and data connections. The use of digital contacts is not as putting green as twilight codes or encryption, and reason is the fact that digital trace is relatively new technology. The look into unconstipated shows t hat none of the canvas banks uses digital sig temper as the form of authentication, but the up-take in other types of authentication is mainly high, up to 85% indoors the socio-economic class 2006 and year 2008. modify hire dust Devices utilize in change hire Systems allow in unbidden bank clerk forge ( automated teller) and electronic funds imparting. ATM understood stratified higher(prenominal) in its bed cover than electronic property Transfer, beginning rate of spread of this technology power be callable to cost, fear of unsound practices and lose of facilities unavoidable for their operation. altogether chiefly speaking, the sufferance of change wages System change magnitude dramatically. The table shows the increase from 28% to 87% at heart the range of 3- sidereal days.BENEFITS OF ICT credence ON BANKING persistence many a(prenominal) a(prenominal) researchers nurture agree on some benefits that strike to ICT word sense and use in the ba nking patience. These accept among others intensify available efficiency. The use of ICT in the banking fabrication enhances the useable efficiency of the banks (Ma over payableme, 2009). For example, the use of SMS alert, an ICT infrastructure that enter no concern among Nigerian banks mingled with year 2000 and 2002, has soon back up flashgun presentment of transactions. ameliorate tone of service delivery. legion(predicate) researchers (Ikechukwu, 2000 Madueme, 2009 Fenuga Oladejo, 2010) subscribe that the application of ICT to banking operations has doubtless enhances the musical note of customer service delivery in the banks.The uses of ICT-based compensation systems much(prenominal) as self-regulating narrator automobile (ATM) and electronic cash in hand Transfer do real amend the service delivery of Nigerian banks to its customers. For example, a silver canalise transaction that utilise to take me days to transact has been cut to a matter of a couple of(prenominal) minutes. For a case in suggest, last week, I sent property to my crony by means of UBA bank and before I got to the entrance after the transaction, I got a call from him con theatreing that his account was credit through a capacityedness alert. growth in customer happiness. This benefit derives from the one in a higher place. accord to Fenuga and Oladejo (2010), the word sense and use of ICT in the banking application has increase customers propitiation due to ameliorate pure tone of banking service. Referring to the supra case of personal experience, it is peremptory that customer satisfaction has markedly increase as a result of betrothal and application of ICT in Nigerian banks. meliorate profit carrying out. another(prenominal) cardinal benefit of the acceptation and use of ICT in the banking assiduity has to do with ameliorate profit margin. numerous studies (Baba Harker, 1997 Ikechukwu. 2000 Madueme, 2009 and Oladejo Adereti, 201 0) curb shown significant and substantiative correlation amongst ICT word meaning and advantageousness of organisations. affix in market shares. When ICT is achieverfully pick out and applied to banking operations, the boilersuit motion of the banks is improve and this manifest in the synonymic increase in market shares, positiveness and other indicators of performance (Oladejo Adereti, 2010). intensify militant advantage. interrogationes by Ikechukwu (2000) and Oladejo and Adereti, 2010 spend a penny lent credence to the fact that application of ICT to the operations of the banks has boosted their in operation(p)(a) efficiency and brought astir(predicate) great competitory advantage in the industry. effect OF ICT ON BANKING persistenceAgboola (2001) try the impact of computer automation on the banking serve in Lagos and ascertained that electronic Banking has tremendously improve the services of some banks to their customers in Lagos. The study was however restricted to the commercial nerve bone marrow of Nigeria and pure on solo six-spot banks. He do a comparative psycho outline betwixt the old and new contemporaries banks and detect variation in the rate of credence of the automatize devices. Aragba-Akpore (1998) wrote on the application of information technology in Nigerian banks and pointed out that ICT is comme il faut the backbone of banks services variety in Nigeria.He cited the baseball field corporate Banking serve (DIBS) of adamant Bank restrain and electronic lustrous gameboard sum up (ESCA) of every(prenominal) States Bank trammel as efforts geared towards creating ordinariness in the banking sector. Ovia (2000) find that banking in Nigeria has progressively depended on the deployment of culture intercourse technology and that the ICT budget for banking is by far big than that of any other industry in Nigeria. He contended that on-line(a) system has facilitated profit banking in Nigeria as testify in some of them submission websites.He found also that banks now offer customers the tractableness of operational an account in any branch no matter of which branch the account is domiciled. Cashless transactions were made realizable in our gild of nowadays. The removal company of the economy (Banking Industry) is now well positioned to meet-up with the new scraps from the costumers, competitors and even from the nations economy with right tool in their hand to reach illimitable point of success. The Industry is now maturation on nonchalant basis with respect to new innovations that are approaching out in the world of technology. ratingThe banking assembly line in Nigeria today can be assessed as being highly ICT based. The analysis of Alawode and Kaka (2008) ICT infrastructures used in some selected banks among year 2000 to year 2008 as originally presented in table 2.1 clear indicate the rigid growth of ICT application in Nigerian Banks. meshwork over ture usage, for example, blush wine from 27% in the midst of geezerhood 2000-2002 to 91% amid historic period 2006-2008. SMS Alert that was extinct among the periods of 2000-2002 locomote from nowhere to 98% in the midst of long time 2006-2008. Similarly, automatise remuneration System that was barely 1% between years 2000-2002 rose dramatically to 28% in years 2003-2005 and throw away rocketed to 87% between years 2006-2008.The research, which provided the higher up analysis, is over 5 years old now. Considering the rate of growth inform in the analysis, it is clear that most of the infrastructures may deal reached their full potential. draft copy from above background, one could middling accept Akinulis (1999) rack when he discovered then that it appears Nigerian banks were reaping most of the benefits of revolution in technology, as can be seen by its application to roughly all areas of its activities.Adeoti (2005), Ovia (2005) and Osabuohein (2008) in sepa rate remarks corroborate the fact that the technological innovation witnessed in Nigerian banking sector is feasible of impacting on the banks mode of operations especially in their defrayal systems. It is and then classical to state that ICT toleration in Nigerian banks has broadened the scope of banking practices and changed the nature of banking as well as the competitive purlieu in which they operate. such new practices charter led to the development of a rightfully global, unlined and cyberspace enabled 24-hour backing of banking. In summary, the bridal of ICT in Nigerian banks can be say to be a success though not without some argufys.ChallengesThe automation of banking operations is truly make up altercates to the Consumers, the banks themselves and regulative/supervisory politics in Nigeria. Among the issues touch on are Infrastructural deficiencies It is intelligible that the use of ICT in the banking industry need minimum level or base infrastructur e such as electricity, telecommunication and motorable roads. save all these go forward great challenges even as they let as manifestos in all presidential termal campaigns. ineffectiveness of telecommunication service providers and epileptic supply of electricity befool much times cost quite a little to spend days worthless to detect pin down cards in ATMs.For example, there was a day my friends card got confine for only divinity fudge knows the reason, but on a Saturday when the banks ply could not be assentinged to think neither the card nor alternatively withdraws notes at UBA Aliade road branch. He had to front until Monday break of the day to recover his card. some(prenominal) his purpose for wanting to memory access property must fall in been defeated. Consumer sentience and capacity A major challenge of ICT banking to many unknowing and semi-literate universe of discourse of the country who anticipate in rural areas is overlook of awareness of how the systems work and their inability to access the services which more often than not exist in cities and high inhabit work areas or institutions. memory access to ATM and GSM Telephones in that respect are incompetent banking facilities to cover for the maturement universe of Nigerians who can access the services. more households are unable to kick in terminals and all accessories mandatory for operating in todays banking system. The recent federal official governments 60 billion naira anticipate examine for 10 one thousand million farmers (Olatunji, 2013) is one ensample that absolute majority of Nigerians are too piteous to move over a telephone, a infallible abetter _or_ abettor for accessing ICT banking services. Consumer security system some other major challenge of bankers acceptance of ICT is the absence seizure of statutory or restrictive sustenance to harbor the consumer of the products/services. imposture So much parody has been account wit hin and outside banks due to ICT espousal.The high ikon of the system to fraudsters, hackers and other criminally minded persons who could access, bump and utilize confidential information from the system if security measures are scant(p) to win unauthorised encroachment is another challenge to the authorities. Systems working(a) Risks Bank IT rests on computers and telecommunications which could be persuadable to system failure, infixed manipulations and unsuitable regulative policies (Etim, 2000). ratiocinationConcerns about ICT billet in attaining effectiveness, efficiency and productivity were raised(a) in the late 1980s. Since then a large number of studies set out emerged both at the industry and firm level that excite substantially ameliorate our misgiving of the relationship between ICT and firm performance. This radical has clearly be what ICT is and presented a look back of relevant literary works to charge judgment of the diachronic antecedents or reforms that necessitated its word sense in Nigerian banks by assessing the benefits and effects, and the pilgrimage so far.The composition nevertheless evaluated the success of ICT adoption as well as addresses the challenges it has posed to banks, consumers of services and inadvertence authorities. The paper concludes that the adoption of ICT has influenced the content and quality of banking operations positively. From all indications, ICT presents great potential for craft process reengineering of Nigerian Banks. It is pressing for bank management to intensify investment in ICT products to facilitate speed, convenience, and high-fidelity services, or otherwise lose out to their competitors. testimonyThis paper recommends that investment in information and communication technology should form an cardinal theatrical role in the boilersuit system of banking operators to realise effective performance.ReferencesAdam, J.A. (2005). Banking firmament Reforms The polity Ch allenges of Banks integration in Nigeria. Selected document for forty-sixth yearbook Conference, Nigerian economic decree, stately 23-25. Adeoti, J.O (2005). selective information engine room coronation in Nigerian Manufacturing Industry The come up So Far. Selected paper for the 2004 yearbook Conference, Ibadan Nigerian economical Society, 213-244. Adeyemi, K.S (2006). Banking domain desegregation in Nigeria Issues and Challenges. coalescence Digest, 9(34) June (http//www.unionbankng.com/adeyemi.pdf). Agboola, A. A. (2006). electronic payment systems and Tele-banking services in Nigeria. ledger of Internet Banking and Commerce, 11(3), 112-124.Agboola, A. A. (2001). clashing of electronic Banking on node go in Lagos, Nigeria. daybook of economics and Financ, 5(12), 45-73. Akinuli, O.M. (1999). learning engineering science in Nigerias Banking Industry practicable Applications, Problems and future tense Challenges. CBN Bullion, 23(3), 71-75. Alawode, A. J. and Kaka, E. U. (2008). study and Communication engine room (ICT) and Banking Industry. proceedings of the first external applied science, command and milieu Conference, African Society for scientific research (ASSR) 673-677. Aragba-Akpore, S. (1998). The thorn of Banks emolument Regeneration. noteswatch, July 22, p23.Baba, P. and Harker, P. (1997). Examining the Contributions of cultivation engineering science towards productivity in get together States sell Banks. papa Wharton School. reconciliation Act, (2007). Balancing Act give-and-take update (http//www.balancingact- africa.com/country_profile.php?id=24).CBN, (2006). insistence Release. The Guardian, Vol.22 (9902), January 3, p.11.Diamond Bank, (2005). Banking Industry Report, strategical provision Unit, December (http//www.diamondbank.com/public/Banking%20Industry%20Report%20December%202005.pdf). Etim, S. O. (2000). electronic Banking The Risks in the insurance. A musical theme Presented at magnetic core for Insurance enquiry Luncheon, Lagos, may 23.Fenuga, O. J. and Oladejo, R. K. (2010). The takings of electronic Payment on guest function obstetrical delivery in Nigerian Banks. external diary of economical growing research and Investment, 1(1), 5-16. Frenzel, C.W. (1996). entropy applied science Management, Cambridge Thomson create Company.Harold, B. and Jeff, L. (1995). entert let engine room make pass You By. ABA Banking diary, 73-81.Iganiga, B.O (1998). modern Issues in Money and the Nigerian pecuniary System, Lagos Amfitop Books.Ige, C.S (2007). Reforms in phylogeny. The Reformers, 2(1), 4-16. Ikechukwu, G. (2000). Enhancing the functioning of Banking operations through becharm breeding Technology in Nigerian Banking Industry. Ibadan Spectrum Books. Madueme, I. S. (2009). adjoin of information technology on the ptofitability of commercial banks in Nigeria. foreign daybook of course and leafy vegetable food market Studies, 6(12), 112-121. Ojo, J.A.T. (2007). pecuniary empyrean Maladaptation, option verify and Nigerias growth Dilemma. universe Lecture, concordat University, Ota, Ogun State, January 25. Oladejo, M. O. and Adereti, A. S. (2010). equal of information technology on the performance of microfinance institutions in Ogun state, Nigeria. global journal of economic growing Research and Investment, 1(1), 44-55. Olatunji, S. (2013). FG to give rural farmers N60bn cellular phone phones. Punch, January 3, www.punching.com/ condescension/business economy/fg-to-give rural-farmers-n60bn-cell-phones/ Osabuoheien, E. S. C. (2008). ICT andNigerian Banks Reforms outline of pass judgment Impacts in Selected Banks. globular Journal of Business Research, 2(2), 67-76. Ovia, J. (2000). From Banking hall to E-Platform. monetary Standard, January 15. P. 6. Ovia, J. (2005), Enhancing the efficacy of the Payment System in Nigeria. CBN Bullion, 29(1), 8-18.Soludo, C.C. (2004). Consolidating the Nigerian Banking Industry to meet the Development Challenges of the twenty-first Century. An send for Delivered to the peculiar(prenominal) conflict of the Bankers Committee, Abuja, July 6. Woherem, E. W. (2000). Information Technology in the Nigerian Banking Industry. Ibadan Spectrum.