The Relevance And Challenges Of Computer Networking In Nigeria Banking Industry (A Case Study Of First Bank Nigeria Plc 2007-2013)
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This project is dedicated to God Almighty for sustaining his grace, love and strength upon me.
I wish to acknowledge with immense thanks the contribution of my fellow students in Banking and Finance which enabled me to identify the need to fill the gaps existing in my research work.
My gratitude goes to my supervisor for the timely correction and proper supervision of the project; Elder T.C Ngwu, my departmental lecturers, especially the head of department of banking and finance Mr. T.C Ngwu.
I will not fail to convey my profound gratitude to my parents who contributed in no small measures to the successful completion of my HND programme. May God bless you all. Bravo!!!
With the present banking system in the country the computer network has become important in the banking sector as the banks officers and customers have began to appreciate accessibility, credibility and consistency of the network system in the banking industry. The method should be qualitative and analytical which will involve complication of facts, use of tables, testing of hypothesis, establishing relationship and drawing references based on the information collected.
Moreover, from the analysis through questionnaire, direct interview and observation, this study should be able to prove that fact that despite all problem of the computer network system in the banks that have started the implementation like communication problem from NITEL, software problem, the system is still required in the banking operations like fund transfer, printing of balances, making information to be available from any branch to any other branch when needed etc which ordinary computerization of the bank is not handed.
However, the success of the computer network system in the banking industry shall be however recorded mainly in the area of minimizing the time spent by customers in the bank when carrying out any transaction, increasing the efficiency and effectiveness of the level of performance by the bank officer, increase in the number of branches since the commencement of the programme and in the number of services rendered by these banks.
Furthermore, the study also in the final analysis will make some adequate recommendation to the banking industry, customers and Nigeria telecommunication establishment (NITEL) such that the old and new generation banks should embark upon the computer.
Table Of Contents
- Title Page
- Approval Page
- Table Of Contents
- 1.0 Introduction
- 1.1 Background Of The Study
- 1.2 Statement Of The Problem
- 1.3 Objectives Of The Study
- 1.4 Statement Of Hypothesis
- 1.5 Research Questions
- 1.6 Significance Of The Study
- 1.7 Scope Of The Study
- 1.8 Limitation Of The Study
- 1.9 Definition Of Terms
- 2.0 Literature Review
- 2.1 Introduction
- 2.1.2 Various Applications Of Computer
- 2.2 Computer Networking
- 2.2.1 Network Specification
- 2.2.2 Network Systems
- 2.2.3 Importance Of Computer Networking
- 2.2.4 Standard Approach For Networking
- 2.3 Operations Of The Banking Industry In Nigeria
- 2.3.1 Banking Operations
- 2.3.2 Enhancing Banking Industry Performance
- 2.3.3 Automation In The Banking Industry
- 3.0 Research Design And Methodology
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Area Of Study
- 3.4 Sources/Methods
- 3.5 Population And Sample Size
- 3.6 Sample Technique
- 3.7 Validity And Reliability Of Measuring Instrument
- 3.8 Method Of Data Analysis
- 4.0 Data Presentation And Analysis
- 4.1 Introduction
- 4.2 Presentation Of Data
- 4.3 Analysis Of Data
- 4.4 Test Of Hypothesis
- 4.5 Interpretation Of Result(s)
- 5.0 Summary, Conclusion And Recommendation
- 5.1 Introduction
- 5.2 Summary Of Finding
- 5.3 Conclusion
- 5.4 Recommendation
1.1 Background Of The Study
Adewunmiu (1992) the advent of structural adjustment programme in 1996 has not only increased competition in the banking industry but also brought the application of computer by the structural adjustment programme (SAP) has enhanced the introduction of computer in banking industry. But computerization per say has solve some problems in the industry. Some innovative bank have gone into computer network in order to reduce if not eliminating some of these problems. Bank want to achieve the improvement of their services rendered to customers.
But as at 2005, first bank monthly business and economic report (august 2013) opined that, the banking industry has witnessed a rapid transformation due to services delivery with the trend of competition. However some people have argued that the services cannot be significantly improved despite the increase in number.
But within the same class of people, some still believe that banks need radically improve their mode of operations. This means that banks should rely on human labour to perform the routine jobs that tend to consumer worker’s time. This still leads to some of the problems encountered by the majority of the customers in the various degree, such as unbelievable arithmetical errors in cash paid and received over the counter and wrong posting to statements of accounts. Inadequate and untimely information for loan management etc. an affect the relationship customers have banks.
Furthermore, customers will like to operate their account from another branch different from where they maintained their account. Banking industry problems can be removed with the aid of higher degree of computerization, which is computer networking. Not having computers in one branch and forgetting about the other branches. Banks should have computers that will enable them to carry out their operations effectively. The computers have to be linked, how this can be done will be discussed in this project work.
Basically, computerization of branches has to be achieved before this networking is possible.
1.2 Statement Of The Problem
This researcher work is concerned with the relevant and challenge of computer networking in the Nigeria banking industry using first bank of Nigeria plc. As a case study banking industry has continued to live with this problem since its commencement.
This relevant and challenge of computer not working in the Nigerian banking industry is a phenomenon that must be tackled with every amount of vigor by banks in order to minimize undue delay in banking operations.
1.3 Objectives Of The Study
The aim of the study is to find out how computer network system has helped the banking industry in their activities so far. The study will like to identify some of these:
- To identify whether banking earning will increase with the installation of computer network system.
- To find out whether computer improve the rate of performing bank operations.
- To find out whether customers prefer this network system to manually.
- To find out whether the overall profitability of the bank increase since the commencement of networking.
1.4 Research Questions
- What is the extent of safety and speed deli9very of services by computer network in the banks?
- How do you identify whether bank introduce net technique in their operation?
- Is there any problem encountered by the use of computer networking in the bank?
1.5 Statement Of Hypothesis
- H1:computer network has improved the rate of performing bank operations.
- H2:computer network has been increasing bank earnings since the installation.
1.6 Significance Of The Study
This research work obviously is a novel in our banking sector. However computer networking is not completely new in the oil sector and some well established co-operate bodies. The banking industry and customers will derive a lot of benefit from this study as well as the government economically. Some of the benefits that will be seen from the study are as follows the time spent in searching and updating required information can be reached customers can operate their account from another branch with the aid of the network, what many customers want to achieve in a bank.
Also that wastage of time for customers to achieve what they want in a bank can be reduced. Moreover, the end of the days report can be accessed easily by their headquarter with the network system that is, with the aid of management information system, the information can be made available whenever it is needed by the branch of the bank. The result of this research will be immense value to the banking industry generally.
1.7 Scope, Limitation And Delimitations
Computer networking can be applicable to many sector in the sectors like airline medical centers, oil refined industry, banking industry, education centers, oil refined industry, banking industry, education etc but this study is confined to the banking industry.
In Nigeria, the banking system has three categories of financial institutions namely:central bank, the commercial bank. The research work will concentrate on the services performed in the network system. Due to the large expenses that will be involved and the time constraint the study scope will be limited to Owerri. It is hoped that the result collected is from first bank of Nigeria Plc.
1.8 Definition Of Terms
It is an electronic device (machine), which under programme control has the ability to accept inputs and process the inputs store them and produce the result known as output. It can also be seen as electronic device which is capable of receiving information (data) and performing a sequence of logical operations in accordance with a predetermined but variable set of procedural instructions (program) to produce a result in the form of information for signals.
2. Computer Network:
This is the connection of two or more computers together for the purpose of sharing resources and to exchange information and develop useful contacts for the simultaneous broadcast of a programme.
Is a process of using computer to solve problems that may or may not otherwise be solved manually. It is also a process of converting to a system or form which is controlled, stored, or processed by computer.
This is a comprehensive term for a number of institution that carryout certain kinds of financial business. It is an institution that control and management the volume of in circulation, they accept money deposits from their customers and other valuable items for safekeeping.
This is the coming together of firms that engaged in the same line of business operations. An industry therefore can not be formed without firms coming together. It can be seen as an economic activity concerned with the processing of raw materials and manufacture of goods in factories.
This means modern techniques that are newly introduced, i.e. new and important things that is closely connected or appropriate to the matter happening in the banking like computer networks.
7. First Bank Of Nigeria Plc:
First Bank of Nigeria plc is a commercial bank, it is also one of the foremost banks that started operations in Nigeria in 1894. This bank has enjoyed depositors’ confidence for a long time due to its strong asset base and good management practices adopted by the bank over the years.
8. Computer File:
A computer file can be defined as a set of data or collection of related records organized according to some common characteristics and often stored in the secondary memory of the computer system electronically or stored under a single identifying name
Is the art of writing instructions or codes in a particular programming language for processing data to attain to attain the purpose and objects of a particular application.
Data can be define as any fact, figure, text, chart or symbol that represent an idea, object, conditions or symbol that represent an idea object, conditions or situation which is yet to be processed and when processed it becomes information to the recipients.
This consist of facts providing knowledge relations to a specific situation which may be used as a basis for making a decision to modify a cause of action which could otherwise not be implemented
This is a process of conducting an investigation or a view of finding out something, studying of materials or sourcing a particular article in order to establish facts and reach new conclusions.
A customer is a person who buys feeds or who services is being rendered to by a business man or a ship attendant. He is also a specified or special person whom one has o deal with, because without the customer most business would not move forward.
14. Co-Operative Organization:
This is a firm or a business owned and run jointly by group of people or members of the organization, who share the profits or benefits that is achieved from the business.
This is an act of a company yielding profit or financial gain. It is also the difference between an initial outlay of a company and the subsequent amount earned.
This is the use of electronic channels such as internet or communication and email to conduct business transactions. It can also serve as a means of transferring information from one bank to another.
This is the provision of banking products and services through electronic delivery channels such as internet banking, telephone banking and other electronic delivery channels. It provides enormous benefits to customers in terms of the ease and cost of transactions. It involves the use of computer in dispensing cash and transfer of funds.
This means the ability of the banks to store enough funds and raise funds quickly from the markets to satisfy depositors, loan customers and other parties with a view to maintaining public confidence. It is also the ability of the banks to meet its short-term obligation in terms of cash and cash equipment.
This is a continuous/integrated operation of production system that uses computers or related equipment to regulate, co-ordinate the quantity an quality of what is produced. It is also an equipment used to measure the size and pattern of a particular product.
This is an automated teller machine used in the bank to withdraw, transfer, inquire and view balances of one’s account. It is an electronic device that operates on its own, without the help of a man. This device is a machine which enables a customer’s account to be debited instantly with the cost of purchase in an outlet.
21. Smart Card:
This is a plastic card with a built in microprocessor, used for electronic processes such as financial transactions and personal identification. The merit of smart cards over other debit cards is that the micro-chips contain additional information on bio-data and financial position on the holder.
22. Pass Book;
This is a book issued by a bank or a building society to an account holder, in recording transitions. When a customer opens an account in a bank, the pass book is being processed in an IBM machine (international business machines) either by debiting a customers bank account or by taking credit from the store.
23. Home Link:
This is a product that allows bank customer to transact banking business at home. A pre-requisite for the use of this product is that the customers must have a television set at home. The banks on its part will provide a home deck console through which the customer carries out his transactions. Home link facility provides the customer the opportunity to settle his purchases through an electronic instruction to the bank and this in turn reduces the use of cheques.
This is one of the most commonly used forms of internet. This means electronic mail. E-mail accounts are usually provided by ISP (internet service provider, it is the company that gives access to the internet). Emails can be received within minutes after a mail has been sent and usually cost for free making e-mail a popular choice for people who need to send a lot of mails. E-mail is a system of sending message electronically from one computer user to one or more recipients via a network.
This is the provision of financial services through electronic channels such as ATM, pass card, Smart card and home link. This electronic devices can only be use when there is electricity available in that area of organization. It is also the management at large amounts of money, especially by governments or large companies through electronic channels.
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How to nail it on the head during your project defence
You are through with writing that project. Now what?
You have found yourself at that point where you have to defend what you have written. Of course you have to stand in front of your supervisor and other literary personalities to prove that you know what you wrote in your project paper. Unfortunately, the more you think about it, the more it looks like you are about to face a legion. It is not a war. But the emotion of dread welling up inside of you makes it look like one. So now you are asking yourself questions.
- How am I going to start?
- I hope I will do well enough to get an A.
You really want to nail it, but you need to come to terms with exactly how to get everything in perfect control. Especially your emotions of fear that seem to make a wreck of you every time you think about public speaking.
So here is the deal. I want to help you avoid that feeling that would ruin your precious moment if you dare to let it. And we are going to do it together.
I am going to highlight some very important tips to help you get in control for you to be comfortable enough to move from that feeling of DREAD to CONFIDENT; and making an awesome Impression for that great rating your supervisors should be giving to you so freely.
Consider these tips as you prepare for your defence. We will be taking them one after the other so here we go.
Watch Your Body Language And Keep It Confident:
Can you tell that a person is falling apart if they look confident? … If I can second guess you rightly, am sure you answered no to that question. Remind yourself that you need to come out that way. Now this might seem like a huge big deal when you are dealing with the foreboding. Maintaining a poise of confidence is very important. So find your most comfortable position, sitting or standing and draw up your body. You must exude confidence. It is something you need to do for yourself. People can only see what you allow your body language to show. So you must endeavour to put that out. Remember the story of David and Goliath? … At the end of your defence day, you want to be David.
Dress In Your Most Comfortable And Impressive:
Am sure this one is a no brainer. However I must highlight that you choose comfortable pieces. You don’t want to look so good and yet look like you were forced to wear something that does not belong to you. It’s great to ensure that as impressive as your clothes are on you, that they are also very comfortable.
Speak With Authority:
Going hand to hand with that aura of confidence is your most powerful asset:your words. If you look that confident, your words must not come out like whimpers. To be able to pull this off, you definitely need to speak as deliberately as possible in expressing yourself. Let them also hear what they see.
Use, Your Gestures:
I have often found this to come to my rescue in dealing with shyness and conveying my confidence. Usually it gives you an edge to also drive home your point. You must, however, ensure that you do not over use it. It doesn’t mean that your hands should be flying all over the place. That would be absolutely unnecessary. If you do this well, after a while you will realize that you are not as self-conscious as you used to be at the very start. For most situations, it would have completely disappeared altogether; leaving a really confident you talking.
Have A Good Opening And Closing Line:
Make sure you have perfected a good opening line. You should also be armed with a good closing line too. Try and rehearse it to a friend. If for the first time you presented it, your friend does not say “wow, that’s beautiful” or something like that; just know you need to keep refining it until you get the perfect line. Both opening and closing lines will go a long way in how impressed your panel gets to rate you high.
Make Sure You Know Your Work:
Certainly you should understand how important it is to know your own work from start to finish. Not having in-depth knowledge of your own work is tantamount to a suicide mission. Why should you kill yourself?
When all is said and done, this is what you came to defend in the first place. You should know your work from A to Z.
Prepare For The Questions:
Now this part is truly essential. You must be sure you do not floor all the good work you did on your presentation by not answering correctly. You must pay attention to the questions you are asked to be sure you will give the right answer. Many people get it wrong at this stage and spoil their good presentation. When you do not understand any question do endeavour to ask the person to expatiate what they mean before you answer.
These tips are by no means exhaustive, but applying these tips will give you some necessary advantage you need for a great outcome. Of course that outcome would mean that you eventually earn all your points on this project.
The structure of a good project work
Undergraduate projects in Nigeria is a prerequisite for graduation amongst Nigerian tertiary students who will which to obtain bachelors degree in their respective courses of study such as accounting, banking and finance, business administration and a host of others. Writing an undergraduate project in Nigeria for final year students entails a lot both financially and otherwise. Being able to develop any final year project depends on getting a researchable topic whether it is Accounting Undergraduate project topics, Banking and Finance research topics or banking and finance project topics and materials and it all requires diligent hard work of students who are willing to develop best undergraduate projects in Nigeria and graduate in flying colors.
A typical Undergraduate project in Nigerian tertiary institutions can be said to be divided into five or six chapters depending on the format of the school and course of study which are
The introduction of an undergraduate project states the main research problem and research argument. What precisely the study is all about and why it is important. It looks at the originality of the research work and how it will fill the gap in other studies. Justification for a research undergraduate topic should not be lengthy before it has been explicitly stated.
Below are the contents in chapter one of an undergraduate research project which includes;
- Background of the study,
- Statement of the problem,
- Objectives or aims of the study,
- The research questions,
- Research hypothesis,
- Significance of the study,
- Scope of the study,
- Limitations of the study and
- Operational definition of terms.
2. Literature review
Literature review of any undergraduate research work, be it business administration project topics or Economics project topics just to mention a few is very critical to securing a high grade in one’s project work. The literature review of a research process uncovers what other writers have written about the student’s topic. A student’s undergraduate research work should include a discussion or review of what is known about the subject and how that knowledge was acquired. The review could conclude with a brief summary of the literature and its implications. The contents of the literature review are the theoretical review, conceptual framework, empirical review and summary of literature review.
3. Research Methodology
This section includes a description of the research methods used in the undergraduate research work such as the sample size, data collection methods, measurement instruments, research data analysis procedures and the population from which the sample was selected. This section also describes the method used in selecting the sample or samples, validation and reliability of the instruments used in the research work. There are different research statistical techniques used in undergraduate research work such as SPSS, e-views etc.
4. Results & Discussion
This section presents and discusses the data analysis results used in an undergraduate research work, the results of each analysis is being summarized, tabulated, and then discussed for each research question. Then for each research hypothesis, the statistical test of significance selected and applied to the data is briefly described, followed by a statement indicating whether the hypothesis was supported or not supported. In presenting the result analyses/summary in an undergraduate project tables and figures and or graph are used to add clarity to the presentation.
5. Summary, Conclusions And Recommendations
This section summarizes the findings of the study in an easy to understand manner. It also explains the practical implications of those findings, and points to recommended directions for future research in that area.
This is where every source cited in the undergraduate research work is being included. Every undergraduate research work must be properly referenced for its authenticity.
Choosing A Good Project / Research Topic
Students in Nigerian universities these days wish to choose a very simple project topic/material. There is no issue choosing a simple project topic; the only problem is your ability to choose a good project or research topic that your supervisor will easily approve for you.
Most project supervisors really want to see how good his or her project student understands his or her surrounding through the kind of topic he or she chooses for their project work.
There are some project topic that are not reject-able; for instance in Nigeria of today; what do you think is the major issue on ground now?
If a project student can choose or craft a topic on the effect of dollar increment on the economy of Nigeria. Such project topic will be very interesting to write on.
Now what are the qualities of a good project topic?
- The materials for the project topic must be easily assessable.
- The project topic itself must be meaningful.
- The variables must be able to give a clear aim of the project topic.
What do I mean by variable?
Well I am deriving my point from the area of ; the variables here are those main words in the project topic.
Like the above project topic; the effect of dollar increment on the economy of Nigeria. You can see the main variables that really define this project topic are:dollar, increment and economy.
Before you present your topic to your project supervisor, first of all understand your project topic, and then secondly try to do some research for your topic to see if at least you can get up to 60% of what you need to write the complete project.
I said that above because you might have a very nice topic that the materials are not available online and there are no books as regard the topic; in this case the project topic becomes difficult for you even though the topic is catchy.
What do I mean by your topic being assessable?
Well what I mean is very simple and easy to understand. Simply pick your project topic, type it on google and see if you will have at least a good background for the topic you are writing on.
If you can have a good background for your project topic and you can understand the problem associated with the project topic, then I believe the aim of the project is not far-fetched.