Electronic Commerce, Automation and Online Banking in Nigeria: Challenges and Benefits


1 (B.Sc, M.Sc ACCOUNTING) Accounting Department,Covenant University, Nigeria

2 Ph.D, ACA, ACIB, FNIM), Banking and Finance Department, Covenant University, Nigeria


Electronic banking has been around for some time in the form of automatic teller machines and telephone transactions but with the advent of internet, more publicity has been witnessed. This issue of internet has equally given a new look to their transactions and mode of product delivery in banking services for the benefits of both the customers and the banks. The objective of this paper is to find out the correlation between the anticipated benefits and challenges and encountered benefits and challenges. This paper therefore empirically, adopted the use of survey research to explore in quantitative terms the various benefits and challenges of e-business in the Nigerian banking and finance industry. It was found out that there is a statistically significant difference between the anticipated and encountered benefits and major challenge is the security breach that customers faced. It therefore recommends that some workshops should be organized for ...