ABSTRACT
Nigeria I\as a state with as many financial institutions as possible. These include Commercial Banks, Central Banks and others specialized financial institutions that are established to help the government realise its financial policy objectives.
For the purpose of our study, our concern would be centred on the commercial banks- First Bank of Nig. Enugu in particular. Before the era of computer or the invent of such, the activities and operations of this bank has been carried out and operated in a manual form. For this reason, the performance of the bank has drastically been reduced. It is based on the above circumstances that researchers came up with a system of application called computer which are used for various purposes including for financial and accounting purposes.
Here, this study was set to evaluate the impact which computerization has played in operations and activities of First Bank of Nig. Enugu.
In this research work, data would be collected through constructed questionnaires, oral interviews and observations. In other words, I intend using both primary and secondary sources of information.
The data so collected would be properly presented and analysed accordingly. However, the analysis further showed that in the absence of computer operator, the activities will still remain stagnant and will even be reduced to a large extent. On the basis of the above, recommendations were given to facilitate easy operation of the bank.
It is my belief that the result of this research work will expose the benefits accruing to the banks which are fully computerized.
The research work will definitely be beneficial not only for further research work on the issue in my department, faculty and institution as a whole but also to academic world at large.
TABLE OF CONTENCTS.
Title page – – – – – – – – i
Approval page – – – – – – – ii
Dedication – – – – – – – – iii
Acknowledgment – – – – – – – iv
Abstract – – – – – – – vi
Table of contents – – – – – – – viii
CHAPTER ONE : INTRODUCTION1
- Introduction – – – – – – 1
- State of problem – – – – – – 5
- Objective of the study – – – – – 7
- Significance of the study – – – – 9
State of hypothesis – – – – – – 10
- scope and limitation of the study – – – 12
- definition of terms. – – – – – 13
CHAPTER TWO: REVIEW OF RELATED LITERATURE
- Historical exclusion of computer – – 16
- definition of the computer – – – 26
- structure of the computer – – – 29
- Classification of the computer – – – 35
- Misconception abort the computer – – 39
- Impact of computerization in Banks – – 43
- problems of computer application in Nigerian Banks. – – – – – – – – 52
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
- Source of Data – – – – – 56
3.1.1 Primary Data – – – – – 56
3.1.2 Secondary Data – – – – – 57
3.2 Sample used – – – – – – 57
3.3 Method of investigation – – – – 62
CHAPTER FOUR: DATA PRSENTATION AND ANALYSIS
- Data presentation and analysis. – – – 63
- Test of hypothesis – – – – – 82
CHAPTER FIVE : SUMMARY OF FINDINGS CONCLUTION AND RECOMMDETION
- Findings – – – – – – – 96
- Recommendations – – – – – 100
- Conclusion – – – – – – 103
Bibliography – – – – – – 106
Appendices – – – – – – 108
CHAPTER ONE
INRODUCTION
The use of computer in virtually all spheres of human activities is rapidly expanding . The compute is now a variable tool in research management, Engineering accounting, Banking communication and so on. Government and private organizations are increasingly computerizing their operation.
In banking, these is a great need for information. This is because, all things being equal, quantity information could support good decisions , good decisions should lead to effective performance of managerial functions and effective functional performance should lead to the attainment of the organization goals. It the implies that management information system must be employed since it remains the system that provides management with needed information on a regular basis This calls for the time value of information which implies that when the required information is received behind the period it with be used, the information becomes useless. The most important management information system component is the computer which is at the center of data gathering processing, storage and communication of the data as well as the out put in the form of relevant information the information component of management information system us critical as it constitution the element needed by management in carrying out its functions thane culminated in effective decision – making.
The need for performance is greater in banking because of the nature of the business and to satisfy the bank’s need for information computer has been found to be an invaluable aid.
According to Vaugham (1969:11) for the individual bank, the pressure to automate (its information processing) usually result from one or two causes: the bank may be experiencing overlord in the operation areas which traditionally book –keeping equipment cannot handle or it may be looking towards future development in the banking industry with an eye in the direction of improving its competitive position. The former may be regarded as a short- term cure, which mainly falls under the heading id operational pressure while the later is a long- term falling under the heading of policy planning.
On this note, the researcher of studying THE IMPACT OF COMPUTERIZATION IN FIRST BANK OF NIGERIA PLC,OKPARA AVENUE, ENUGU.
First Bank of Nigeria PLC was established on 31st march 1894 with bank of British West Africa (BBWA) as the name. This bank which was registered in lever pool, London had its Nigerian branch in Lagos which commenced in November 1,1976, the name was again changed from BBWA to standard bank of west Africa (SBWA). The new structure, nevertheless, was short lived as the west Africa components who wanted to maintain its distinctive identify with west Africa stated to disengage there years later obtained local incorporation. The Nigeria component became standard Bank of Nigeria ltd (SBN). In order to re-establish its real identify, SBN was changed to first Bank of Nig. Ltd in October 1st 1999 and later became first Bank of Nig. PLC, a name it is bearing today.
The bank has grown from strength to strength and has the highest number of branches spread all over the country than any other bank in Nigeria. Because of its size, the bank was split into five rejoins for administrative purposes. They are tabulated as follows:
OFFICE REGIONAL HEAD OFFICE
Dam’s office (central) Kaduna
Dam’s office (east) Enugu
Dam’s office (west) Ibadan
Dam’s office (North) Kano
Dam’s head office marina – Lagos.
Each of the regions is autonomous to the extent of the power allocated to it by the head office.
1.2 STATEMENT OF PROBLEM.
Despite the improvement that has taken place almost in all the banks pertaining to computerization, the problems that has been facing the bank under consideration have been solved to some little extent because customers still encounter their problems as well as the management itself.
The problems remain that the bank in question is not fully computerized. There are some departments with no computer system that require such for effective operation in their environment. Besides, even where such (computer) exists, there’s lack of computer interest workers. This has resulted in poor banking services where most of the work are still done manually. For this reason there is delay in rendering the bank services.
However, there is this problem of communicating gap which still exists to some extent and due to that, there results poor management information system under which vital information that in required by the management for proper decision making will not be transmitted here that the essence of communication/relationship in decision making is to correct the possible errors emanating from personal influence in the art choice making.
In view of these, this study would address itself to the following problems:
1). Customers still stay long hours in the bank despite the installation of computers.
2). First bank is still not fully computerized. Though there exists incessant breakdown in the available ones. This is a problem because most of their work will be subjected to manual system of operation.
3). The management information system is not fully utilized to the benefit of the accounting function / aspect of the bank.
4). Some accounting system are not fully computerized.
5). The management information system is not efficient as a result, information so obtainer cannot be fully recorded.
6). Auditing of the bank’s operation is not yet done with computer system.
1.3 OBJECTIVE OF THE STUDY.
The main objective of this study is to examine the impact of computerization in the activities and operations of financial institutions in general and in particular, first bank of Nig. Plc, Enugu.
In addition to this major objective, the study would ascertain the following objectives.
1). Is there any improvement to the bank’s own advantage when it comes to the operation system of the bank?
2). Is identify whether the introduction of computer has reduced the time customers spend in the bank. In other words, any increment in the customers services especially when the bank has in mind, the maintenance of bank/customer relationship.
3). To find out whether first bank is fully computerized or whether some of their work are still done manually.
4). To find out whether the application of computer has improved the banking habits of their customers.
5). To identify whether the management information system is fully utilized to the benefit of the accounting functions of the bank.
6). To investigate whether the audit of the bank has been done with computer system.
7). To find out whether the bank’s accounting system has been computerized.
8). To investigate whether management information system is efficient and whether information obtained are fully recorded.
1.3. SIGNIFICANCE OF THE STUDY
This study could be seen as reflecting the essence of computer application, its benefits in the operational system of the bank under consideration and other financial institutions. In effect whatever retard its programme will invariably retard the success, growth and developments of the bank as a financial institution.
This study is giving to be very useful to other researchers who may work on related issues.
Students who may use this work as a reference point from time to time would benefit from it, for it will provide a stepping stone of success to their.
Furthermore, the bank under consideration will benefit by having an overview of some of its weak points, problems and its stand in operation and development. It will see how its stand in management could improve to steer the company into achieving the aims and objective for which it was set up.
The society will be informed about problems and prospects partially facing financial institutions. Banks in our present day Nigeria. It will help to reexamine the existing objectives of the bank and then rationalise them into one specific achievable objective.
This study is very tiredly especially now that banks are currently being set up as well as what people refer to as computer age.
Considering the fact that there are limited literature on the effect of activities, this research therefore seeks to enlighten the general public about impact of computerization in our financial institutions.
1.4 STATEMENT OF HYPOTHESIS.
1). Ho = computerization has not improved the bank services to its customers.
Hi = computerization has improved the bank services to its customers.
2). Ho: computerization has not assisted in the management decision making of the bank.
Hi: computerization has assisted in the management decision making of the bank.
3). Ho: The application of computer has not improved the banking habits of customers.
Hi : The application of computer has improved the banking habits of customers.
4). Ho: With the application of computer, there has not been effective flow of information in the bank.
Hi: With the application of computer, there has been effective flow of information in the bank.
5). Ho: Computerization has not bridged the communication gap between the management and the staff.
Hi: Computerization has bridge the communication gap between the management and the staff.
6). Ho: The accounting system has not been fully computerized.
Hi: The accounting system has been fully computerized.
1.5 SCOPE AND LIMITATIONS.
This research work is centered on the impact of computerization in financial institution generally and first bank of Nig. PLC in particular. First bank of nig. PLC as one of the financial institution was classified as one concerned with customer services and maintenance of bank / customer relationship. This can only be done only when full computerization has taken place.
However, there were many obstacles, which the researcher encountered while carrying out this study. The research work was constrained by some factors as.
Time constraints: the researcher could not extend his study to other financial institutions for general analysis due to time constraints. Accordingly, the stuffy is limited to first bank of nig. PLC, Okpara Avenue.
Financial constraints: liability of gather enough financial resources militated against the much needed standard in this work.
Lack of co-operation by the bank staff: Certain information needed for this project were not revealed due to some beaurcratic bottleneck in the banking industry especially as it relates to banks position on secrecy. Some cookers find it difficult to respond to questionnaires sum did not even return the questionnaires. This made the researcher to embark on oral interviews particularly was management officials. Any way, the researcher was able to extract the much needed information and clarify them.
1.6. DEFINITION OF TERMS.
ACE: means automatic computing Engine.
EDSAC: means electronic delay storage automatic computer.
EDVAC: means electronic discrete variable automatic computer.
INFORMATION: means facts discovered abut something or somebody simply put, processed data.
COMPUTERIZATION: means the application of computer in doing specific or severed works. The system or process of providing computer to do some work.
DECISION: means the action of deciding on something.
HYPOTHESIS: means A testable tentative , probable explanation between two or more variables that create a state of affairs or phenomenon.
Ho: means null hypothesis. It is usually stated in ‘’No difference’’ from and the one to be tested.
Hi: means Alternative hypothesis. It is usually stated in positive form. It is the hypothesis to be accepted if the null hypothesis to be accepted if the null hypothesis fails.
TRADIC: means Transistorized digital integrated computers.
UNIVAC: means universal accounting machines.
LEO: means Lyons electric office.
EOP: means electronic data procuring.
DISCLAIMER: All project works, files and documents posted on this website, eProjectTopics.com are the property/copyright of their respective owners. They are for research reference/guidance purposes only and some of the works may be crowd-sourced. Please don’t submit someone’s work as your own to avoid plagiarism and its consequences. Use it as a reference/citation/guidance purpose only and not copy the work word for word (verbatim). The paper should be used as a guide or framework for your own paper. The contents of this paper should be able to help you in generating new ideas and thoughts for your own study. eProjectTopics.com is a repository of research works where works are uploaded for research guidance. Our aim of providing this work is to help you eradicate the stress of going from one school library to another in search of research materials. This is a legal service because all tertiary institutions permit their students to read previous works, projects, books, articles, journals or papers while developing their own works. This is where the need for literature review comes in. “What a good artist understands is that nothing comes from nowhere. The paid subscription on eProjectTopics.com is a means by which the website is maintained to support Open Education. If you see your work posted here by any means, and you want it to be removed/credited, please contact us with the web address link to the work. We will reply to and honour every request. Please notice it may take up to 24 – 48 hours to process your request.
