DEPARTMENT OF BANKING &FINANCE, PROJRECT TOPIC: APPRAISING THE IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGY IN NIGERIA BANKING INDUSTRY (A CASE STUDY OF AFRIBANK NIGERIA PLC)







APPRAISING THE IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGY IN NIGERIA BANKING INDUSTRY

 (A CASE STUDY OF AFRIBANK NIGERIA PLC)


CHAPTER ONE
1.1      INTRODUCTION
Banking can be defined as a financial sector that deals with mobilization of financial resources from the surplus unit and lends to the deficit unit of the economy.
Bank can also be defined as a person or company, entity or a firm caring on the receiving money deposit and collecting of obligation of honoring the customer’s cheques drawn upon from time to time by the customers to the value of amount available on their account on granted of over draft.
Information and communication technology is one f the recent development in banking institution even the extent of the development determine the rate at which a particular bank penetrate the market but in spite of the level of development in information and communication technology devices of the banks. A lot of problems still arise. A possible study carried on to examine the impact of information and communication technology.
        Te competitive nature of the banking industry and process carried out manually, as the explosion that the volume of business threatened to send staffing level out of control. Also the numerous customers over the years as brought about the role and the introduction of information and communication technology. In coping with urgency needs to satisfy the needs of bankers in carrying out their daily activities in satisfying their numerous customers.
        The introduction of information and communication technology has had a major impact on many banking industries in the country in much area to mention few. On the area of organization and reformation of banking activities in terms of manpower, accounting procedures are mere easily accessible quality. In data collection and processing, modeling and packaging of their services, for casting and other banking services.
        The emergence and rapid development of information communication technology in banking industries has brought to the door of the people all over the world good banking services. Information which is regarded as an end result of processed data to make a reasonable decision making has serious implication on the transaction of business world wide. The objective of every business organization is to satisfy customer’s needs with quality services or production and also to maximize profit.
        The fact is reflected in the mission statement of the Afribank plc which said that “our mission is to provide fast class service to our customers delivered by well trained and highly motivated people acted by the best technology generating superior return to shareholders, while positively importing the community served” (Afribank plc. Olaogun 2001). In the Nigeria banking services revolves around such, keeping of account collecting of cheques and lending of money through loans and advances, provision of international trade among others. All these needs a measure application of information and communication technology enable service rendering by banks to be relatively efficient and cost effective that the use of manual processing and labor intensive banking
1.2      STATEMENT OF THE PROBLEM
The statement of the problem of this research work is as follows:
a)   What is the evaluation of information and communication technology in Nigeria banking industries?
b)  What are the rationales for information and communication technology in Nigeria banking industry?
c)   What are the areas of information and technology development in the banking industry?
d)  What are the effects of information and communication technology in the Nigeria banking industry?
e)   What are the benefits of information and communication technology in the Nigeria banking industry?
f)    What are the likely adverse effects of information and communication technology in the Nigeria banking industry?
1.3      RESEARCH QUESTION
The study is built on the foundation provided by the following question from the respondent.
a)               Can information communication technology promote bank management efficiency?
b)              Can information communication technology restore public confidence in the bank?
c)               Can information communication technology make banking industry globally competitive
d)              Can information communication technology improve the volume of capital base?
e)               Do you think information communication technology enhance fast growth in Nigeria banking industry?
f)                       Do you think information communication technology require special skill and knowledge from the bank staff?
g)               Can information communication technology lead to unemployment?
h)              Do you think bank services can strongly and better improve through information communication technology?
i)                      Can information communication technology enhance banker customer’s relationship of your bank?
1.4      OBJECTIVES OF THE STUDY
The main objectives of the study are:
1.              To examine the evolution of information and communication technology in the Nigeria banking industry.
2.              To highlight the rationale for information and communication technology in Nigeria banking industry.
3.              To enumerate the areas of information and communication technology in the Nigeria banking industries.
4.              To mention the effect of information and communication technology in the Nigeria banking industries.
5.              To explain the benefit of information and communication technology in the Nigeria banking industries.
6.              To critically examine the likely problems of information and communication technology in the Nigeria banking industry.
1.5      RESEARCH HYPOTHESIS
The general hypothesis is hereby state for the purpose of the study.
Ho:
Information communication technology has negative impact on services provided in the banking industry.
Hi:
Information communication technology has position impact on services provided in the banking industry.
1.6      SIGNIFICANT OF THE STUDY
Presently, the business environment, especially there banking industry is more competitive.
Then there is a critical for study of the factors than others as a result of are bank advantage of information and communication technology.
The following people will be benefited from the research work.
1         To Government -; It help the record workers up to date and maintaining budgetary control 
2         To Banks;
                    I.        It helps in the area of monetary transmission and other services.
                  II.        It make the bank to improve in the area of transaction and marketing
                III.        It enables the industry to be responsible to the modern economic development through efficient financial market base on sustainable account system structure necessary.
3                 To customers:
                         I.        To removes the need for customers to visit the banks frequently to transact business.
                       II.        It reduces the long hour of waiting in the banking hall.
                     III.        It facilitates the effort of transferring funds
                     IV.        It eliminates the risk of carrying cash and reduce frauds in the bank.
4         To bank staff:
                          I.        It improves their skill and allows them to participate some sensitive tasks.
                        II.        It broadens the knowledge and enhance their technical power.
                      III.        It gives standard interaction and enables to manage computer with easy process.
                      IV.        It enables them to operate computer freely and perfectly.
                        V.        Timeliness is achieved, it reduce the complexity in work to bearable minimum.
5         To company:
                         I.        It prevent high rate of fraud to some extent and help to make reasonable decision, with easy planning, policy formulation for costing, data manipulation and process to be updated.
1.7   SCOPE AND LIMTITATION OF THE STUDY
        The research work will be confined only to the role of information and communication technology in efficient service delivery in the banking sector and industries with the special emphasis in the Afri Bank Nigeria Plc.
There is some problems encounter during the course of this study. These include:
LACK OF ENOUGH TIME: The time consumed in putting together the information needed for the research project work is so small, mostly in term of data collection.
INSUFFICIENCY OF DATA : The data used for this project work is not enough that the secondary and primary data. Moreover  effort has been made to ensure the data contain and limitation do not affect the quality of the research.
INADEQUACY OF FUNDS: The analysis and gathering of data involve much money, therefore the extent by which information is collected depend on the availability of fund in the hand of the researcher.
UNCOOPERATIVE ATTITUDE OF THE RESPONDENTS: The respondents refuse to give a good answer to question given to them.
1.8   DEFINITION OF THE KEY TERMS
INFORMATION: Information can be defined as one or more statement or facts that are received by a human and that have some form of worth to recipient.
COMMUNICATION: Communication can be described as the process which involves the exchange of any kind of information or data.
TECHNOLOGY: Technology can be defined as the application of science or knowledge to commerce and industry.
ATM: Automatic Teller machine
EFT: Electronic Fund Transfer
CHAPS: Clearing House Automated Payment System
SWIFT: The Society for World Wide Inter-Bank Financial Telecommunications
ENIAC: Electronic Numerical Integration And Calculation
EDVAC: Electronic Diskette Variable Automated Computers
         MICR: Magnetic Ink Character Recognition
        BASC: Bankers Automated Clearing Services
        EDI: Electronic Data Interchange
        MIS: Management Information System

1.9   ORGANIZATION OF THE STUDY
This study will be organized into five chapters.
CHAPTER ONE: Introduction statement of the problem, research questions, objective of the study, research hypothesis, significant of the study, scope and limitation of the study, definition of the key terms, organization of the study.
CHAPTER TWO: Literature review, history and background of Afri Bank plc, rationale for information and communication technology, areas of development of information and communication technology by bank, effect of information and communication technology, benefit of information and communication technology, adverse effect of information and communication technology.
CHAPTER THREE: Research methodology, the study population and sample size, sources of data collection, administration of the data collection instrument, procedure for processing collected data, limitation of the methodology.
CHAPTER FOUR: Data presentation, data analysis, test of hypothesis, generalization, policy issue and application.
CHAPTER FIVE: Summary of the study, findings, conclusion, recommendations, references.





CHAPTER TWO
2.1 LITERATURE REVIEW
According to encyclopedia in America (Vol. 21), the term technology derived from the greek word “techno” meaning “art of craft in the narrow source” technology can be described as the industrial process of succeeded craft operations separating, however, one can refer to technology as any process that deals with material. It is also an offshoot of science.
Eric M W (2000) in his book “financial technology review” stated that technology in general was said to started in 17th century in Europe with emergence of the great of the scientific revolution such as Dalton (1944-1966) who advent the atomic theory of matter. Michael Faraday (1971-1987) who invented the electronic.
        Also, Chatder L O (2000) stated in his book “strategic business planning for financial institution using automated solution and technology for comparative advantage” stated that technology impelled on other areas of the business than information processing micro economy has revolutionized product designated with now product such as digital watches, compact disk, computer aided design (CAD) and manufacturers (CAM) and computerized stock and product control and increase innovations        
Meanwhile the administration system of much less automated organization are being changed by the advent facsimile transfer (fax), electronic mail, native king, etc. the electronic office for a bank, however the prime operational activity is international processing. Its not just the administration support system but the whole function of the organization that as been revolutionized by information and communication technology.
The machine performed its operation in a pre-determined sequence. The second generation of computer has based on the punch and machine. This was the type of machine in use in the 1890 for the American census. The first and electronic computer built at the university of pensy irania to solve problems in ballistic aromanic foe US army taking some three years to contract, finished as massive machines weighing some thirty tons and using 18,000 and electronic valves diodes it occupies 10,000 square fast of floor space, put into service in 1946 known as electronic numerical integration  and calculation (ENAIC) but was relatively inadaptable as it has been design to bank on special feed problems.
The next generation machine developed by the same army university electronic discrete variable automated computer (EDVAC), it is more versatile, it is a store programmed machine using punch power tape input and was described as world first comment electronic data processing machine. During the same time IBM was developing general purpose computer in US resulting in the introduction in 1948 of the IBM 604 and IBM 701 in 1952, IBM 650 in 1960 with punched magnet tape was established in the US. Today have what could be called fifth generation of computer now in the market (mostly micro). They can accomplish the task originally meant for mainframe. Igbo. C (1999)
Banking of the global level as reaped immense benefit from information and communication technology and as warmly embraced it. It have such facilities as electronic fund transfer (EFT), automated teller machine (ATM), smart card and other internet facilities input in the banking industry today (Agboola O M) 2010.
Technology information been introduced in the ndustry has eventually changed the banking landscape and now compete a strong marketing tools that assist banker to retain and attract new customers. On the other hand, banking as a dealer of money and money lender is as old as mankind to the 17th century, some rudimentary banking activities as become wide spread in several areas of the world, especially in Europe and Asia, however, and the early bank deals mainly with commodity money crisis.
They were lending individual businesses which fall into trouble by making unproductive lending to kings and nobles.
Gradually, efforts were made to check the observed weakness to uplift banking practice and transformation into the forms which could protect the interest of the shareholders.
Information could be seen as incomplete without become useful for decision making for all this level of management.
Whereas, management information involves the formulation system in an organization could be seen as transaction process system and management information system.
The transformational system processing could be said to represent the lowest level in an organization which operate on instructional bases for the execution of specific task and ensure that its been carried out efficiently and effectively.
Management information system: it is synonymous to information system with a changing phenomenon or the rules or procedures for deliver9ing timely and accurate information in an organization e.g. management. Also, to every employer who required information in an organization.
Information is the transformation of data into useful result, also it is an end result if a processed data but the result must be for rationale decision making.
According to Henry Frayo says authority and responsibility must be relevant for decision making. The survival of any organization depend among other factors the quality of information that is available to the manager. Every organization must interact effectively outside world the business community, government and the society as a whole.
Communication is the art of tapping ideas, opinions and feelings of customers, non-customers, regulation and other external public as well as understanding the value, of internal human resources.
This is the process by which meanings are perceived and understanding reached among human beings whether in terms of written or spoken words, silence, use or exchanging of information. It is a universal human activity, which may be directed of initiating actions e.g by requesting, instruction or persuasion each ongoing information, ideas, attitude and beliefs, establishing and maintaining relationships.
Dartmer Fisher, describes communication as a process by which verbal and non-verbal communication or symbols are exchanged between two or more person.
Serena K K and Mortceen D D also described it as a way by which sender and receiver of message interact in a given social context.
In an organization setting it’s discovered that communication plays a vital role as abedrock because without communication objective cannot be accomplished. There is nothing like organization or achievement of an organization without communication.
In an organization like bank, banker’s customer relationship can only exist with the existence of communicational respective of service provided by the bank.
Information and communication technology enable services to be relating effectively and efficiently than traditional face to face banking services (Ajuba 1997, Jackuet 1999).
Limitless opportunities have been provided for banks to resolve in the areas of new product services.
Information and communication technology has helped bank in developed countries to invest more and more in information and more in information and communication technology (ICT) as means of reduco9ng cost and improve organization efficiency. An operation of ICT requires investigation of the application of ICT in Nigeria bank was carried out in order to determine the expectation and success of information and communication technology implementation in the sector.
The data was generated from a survey of randomly selected branches of 56 banks in Lagos, almost all the banks had information and communication technology policy, the main thrust of which are to achieve full application of information and communication technology to be able to meet organization goals to serve competitive advantage and to be able to date.
2.2   HISTORICAL BACKGROUND OF AFRI BANK PLC
        Afri Bank Nigeria Plc is one of the leading bank in Nigeria in terms both asset and profitability. It is arguable the most diversified financial conglomerate in Nigeria. From a humble spread of two branches in 1960, the bank has grown to represent in over 250 locations in major urban and sub urban town throughout Nigeria.
Afri bank Nigeria plc is a parent company of the Afri bank group. The highly diversified financial group boost of a full service commercial bank, Afri bank capital market, and offshore financial company in Dublin, island, a stock broking company, and insurance brokerage company, a trustee and asset management company and an estate development  company. The consistent growth of the financial superstructure has continued to exemplify the bank’s position as Nigerian “one-stock bank”.
Afri Bank is a full service commercial bank that is committed to its cooperate visions of becoming Nigeria’s foremost financial services group. To achieve this objectives, the bank show an even stronger allegiance to its cooperate mission of facilitating the success of its customers through the provision of world class, one-stop financial services.
The strong asset of the bank as continued to make it possible for it to play a major role in the National economy. In order to sustain iys competitiveness as a financial conglomerate with global influence, the bank allocates a significant percentage of its annual profit to the accusation adoption of information technology to its operation and the development of its manpower in Nogeria and Abroad. Presently, all the over 250 business offices of the bank linked on-line-real-time.
Afri Bank continues to be included in project of National priority. Beyond partnering with various multi lateral agency on various socio economy development project, the bank is also the leader in public revenue collection in Nigeria.
The bank is the only financial institution appointed by the federal government of Nigeria to co-ordinate the revenue collection and  registration of all the expert rates working in Nigeria. In the education sector, it pioneered the sales of examination application for, ms at all level.
The research fellowship instituted in the name of three Nigeria federal university since 1990 attest to the bank strong support for research. It also instituted best student price in the banking and finance department of 13 federal universities in the national university matriculation examination co-ordoinated by the joint admission and matriculation board (JAMB). The bank strong resolve the support in the development of all the categories of sports in Nigeria. Also account for its annual sponsorship of the prestigious Pro-AM Nicon Hilton Golf Tournament in Abuja.
2.3 CONCEPT OF INFORMATION AND COMMUNICATION TECHNOLOGY
        It is necessary to define some conceptual use to aid the appreciation of these paper and understanding. Whole information technology has become a critical use in the world today. Technology, viewed from a broad perspective may be defined as “cultural tradition” developed in a human community for meeting societal means or simply “societal institution” (Kranzberg Dellemport 1972; Dickson 1947). It involves practical in execution of most human activities including communication, mining, transportation, manufacturing, agriculture, hunting and production of services among others.
From a narrow perspective, technology can be defined as a body of knowledge, knowledge required for the execution of a given activity and it entails information, skills and processes necessary for the execution of such activities in the society (Stewart 1977). Hence, we talk about information technology, production technology, brewing technology etc.  Which requiring a specific body of knowledge, skills and procedure serve as the “culture tradition” for executing the specific task for attaining set objectives in an efficient, effective and timely manner (Verscliwur 1984).
It may be obvious to many people the new wave of technology during virtually activities in the world today is information and communication technology.
(Alias 1977) defines computer as a system consisting of input devices, processor and output devices. He believes that computer performs mathematical and logical operation on data within its processing unit based on the set of program instruction and it produce the result in form of useful output within minimum human intervention.
Moreover, it is clear from the definitions above that computer can be ,defined to me an  automatic machine, a system consisting of some elements on and a device that perform certain task under set of instruction. Thus, it is inferred from (Fapounda 1999) that a computer has a following elements, which mean authors like Alias and French completed the idea.
Computer software refer to the general term of all various program that maul be used on a computer system together with their associated document (French 1992) it also refer to the to the draggers of classical music in form of long playing recorder cassette tape (Fapounda 1999, Alias 1997) define software as such program as well as operating aid that extends the capacity of the computer system. It is clear that computer software refer to the instructional programs that enable the accomplishment of any task or goal.
2.4   EVOLUTION OF COMPUTERS
        The history of computing is as old as mankind. In the past, counting and other simple arithmetic operation were performed by the use of different part of human body such as brain, stick, drawing of lines. As man become more sophisticated with the resistant increase in the volume of data to bee processed and also with the need for faster processing and more accurate result it becomes imperative for aid of tools to serve for computing. The characteristics of present day computer have been arrived at through the process of development. They may be classified according to the generation which they belong.
FISRST GENERATION OF COMPUTER: They stored programs concept was the innovations that lead to the first generation computer. It involves the use of serial binary system operations. First generation computer were characterized by the use of vacuum tube as the basic blocks for building the logical parts of the computer. The main problem encounter during this era was that they occupy a large amount of space and they were also slow in operation. Computer in the first generation included UNIVAC 1103 etc.
SECOND GENERATION OF COMPUTER: In 1946, Bell telephone invented a device called transistor. This invention revolutionalized the computer industry. The wired and thermion valves for the first generation were therefore with the printed circuit diodes and transistor. The computers in this generation had larger instruction set, larger internal of performing Arithmetic functions much faster.
THIRD GENERATIION OF COMPUTER: A very important technological innovations in thus generation was the integrated circuits. Substantial attention was paid to communication problem in this generation
FOURTH GENERATION OF COMPUTER: The fourth generation use large scale integrated circuit (LSI), very large scale integrated circuit and ultra large scale integrated circuit (ULSI). This period witnessed the use of powerful silicon chips. The silicon chip is a piece of silicon and its circuit.
FIFTH GENERATION COMPUTER: This generation is characterized by the reduction in size of the computer and enhancement of its power. Movement was made in such a way that greater memory capacity was possible. New words such as “SMMS”, (SDRAM) were introduced to replace chips. Other features of this period were the large size software in terms of money utilization and complexity. Additional storage devices and drives as in CD-ROM characterized this generation.
2.5   APPLICATION OF INFORMATION AND COMMUNICATION TECHNOLOGY IN AFRI BANK PLC
        This part of project will be focusing on some application of information communication technology in Afri Bank Nigeria plc. Afri Bank plc in their own development of information and communication technology as a means of delivering their services as been able to introduce some of their  information technology facility for effective delivery of banking operation. They are:
“BRAINS” OPERATION
Branch accounting and information system (BRAINS) the third house developed banking operation, it run on a Solaris UNIX operating system and ORACLE the first in house development banking application is branch account system called BL .it was IBM mainframe computer base batched system that operated only in Lagos branches later on micro boss (micro banking operating system) was develop for use of upcoming branches to complement the BL, for the wide information system brains operation in an online and real time mode. Over 100 branches and head office division use the system with more than 40 of them is committed to V cal to the banks wide network. Users operate the system through work station and terminal that is connected to the data based server I branches and head office division. It also provides an online enquiring facility for customer information in transaction, thereby enabling user to track down movement on an account.
2.6   RATIONALE FOR INFORMATION AND COMMUNICATION TECHNOLIGY
        Information and communication technology is on of the several major now present in our socio, economic and political system. ICT has continued in our society and impacting on the present and the future while it may be easy to dismiss the future development of ICT as simply as process of role out or the diffusion of already established technology taking such perspective will be a grave error. There is much to be won than loss in the next few tears. In terms of development of information and communication technology (UK department of trade and industry 2002) a scenario for success in 2005.
2.7   AREAS OF INFORMATION AND COMMUNICATION TECHNOLOGY DEVELOPMENT BY ABNKS
        Information and communication technology has product that are useful in the banking industry in transacting business between the banks and their customers. This as been contributing immensely to the development of banker-customer relationship as well as banking standard and quality services to the customer. Therefore many as early mentioned.
Banker automated clearing services (BASC) this is used to reduce paper flows for payment. BASC services payment method so such as standing order, direct debit and bank credit. The banks or companies make payment through BASC by means of data held on a computer media which might not be a disk tape. Perhaps, the biggest application of BASC has been to co-operate customers paying salaries, wages and trade debit. The data may be physically taken to the process center or transmitted to bank through the telephone network using a service called BASC TEL.
THE CLEARING HOUSE AUTOMATED PAYMENT SYSTEM (CHAPS)
This automated the transfer of funds between banks. In the bank CHAPS, settlement takes place on the same day. The bank CHAPS computers are networked using sophisticated software and telecommunication links, so there is center point for CHAPS processing. It is the centralized system. The bank link into the system called gateway.

ELECTRONIC FUND TRANSFER
The promotion electronic fund transfer of the point of sales or EFTPS, is yet to emotionalize money transmission in the retail environment. The idea behind the system is that a customer wishing to make a payment in a shop for example, uses a plastic card (Debit Card) containing his bank account details in a magnetic strip. The customer account is debited directly and the retailer is credited.
THE SOCIETY FOR WORLD WIDE - FINANCIAL TELECOMMUNICATION (SWIFT)
This is used by all major banks in the developed world, linked with domestic inter-bank network. This facilitates the transmission between numbers of international payment, statement and other messages (previously discounted) concerned with international banking. The SWIFT system enables faster, safer and more efficient money transmission services by banks. It is still growing and developing.
ELECTRONIC DATA INTERCHANGE (EDI) 
This will enable cooperate customers to settle transaction between themselves by the means of EDI. This technology will enable swift to become a much more widely used medium for settlement instead of having a used paper message to link the flow of funds between cooperate account (payment) with communication between companies (remittals advice). EDI allows the tool money and information to follow simultaneously.

SMART CARD APPLICATION
Smart card might contain the entire amount of transaction on a particular account in certain circumstances or other personal details. They are thus an entire personal file which the bank can review automatically.
AUTOMATED TELLER MACHINE
This has evolved fairly from cash dispenser into sophisticated unformatted devices for the retail customer. Most newer ATM’s are usable 24 hours per day, seven days per week, although some earlier machine have more limited hours of services and a bank might restrict usage as matter of general policy.
To use an ATM, a customer insert his/her card into the machine, key in a personal identification number (pin) and then key in instruction to the machine under the guidance of a visual display in the machine itself. This can be used to:
    I.        Withdraw cash
  II.        Find out current balance of the customer’s account.
III.        In some cases, it will maintain mini statement of the last few transaction on the account.
IV.        In some cases, to ask for the statement of account or new cheque book to be sent.
2.8 EFFECT OF INFORMATION AND COMMUNICATION TECHNOLOGY ON BANKS SERVICES
There has been a cycle in the relationship between bankers and customers. Information and communication technology applications have removed the need for customers to visit the banks to transact business as well as scaling down branch presence, and creating mass market for banking. They have depersonalized the relationship since the (pre-technology) days of personal contact banking. ICT has also, however, depersonalized the relationship since database technology supports the tailoring and marketing of specialist project to specific segments of the customer base. It refocuses attention on the customer, rather than the account.
Through information and communication technology there is opportunity of sharing resources within the same branch, branches and other banks in Nigeria even the international countries with going through the use of energy, time and money.
This has helped in many ways of preventing the rate of perpetual frauds in banking industry, fraud thus is a crime or deceiving act in order to get someone desire such as money or goods. This has been a recurrent phenomenon in many organization and activities that brings human relationship, whereby the other party suffer for selfish act done. This found to be true because information in bank are stored and network to other department or branches and fraudsters who are not careful will be caught during the process of the operation.
ICT supports high and consist service levels for the customer with a speed up of transaction time.
The bank environment growing more customer- friendly. The barriers created by bandit screams’ are being dismantled and replaced by teller-assisted unit. More space is liberated for open plan public and personal banking areas.
The range of services rendered by the bank and branches is widening: integrated system can offer related relevant products to the customer and handling application together , moving towards one stop shopping in financial products.
2.9 BENEFIT OF INFORMATION AND COMMUNICATION TECHNOLOGY
The Central Bank of Nigerian recognizes that electronic banking and payment services provide many advantages to the banking industry and also have its early stages of development in Nigeria. The benefit derived from the information and communication technology is enormous in nature to the banking industry.
1.     It helps to improve the quality of the bank service as well as reducing the long waiting of customers in the banking hall
2.     Information and communication technology have removed the needs of customers to visit the bank to transact business and also creating a mass market for the bank.
3.     It makes good speed and efficiency in transaction service as well as enhances computerization in the banking industry through which the skills and knowledge of the staff are developed as a result of sensitive analysis and other techniques.
4.     Electronic banking provides a strong and growing economy because information can be easily sourced.
5.     It enables latest transaction easier and cheaper for customer and merchants who are current account holders. This is true because banks have access to current information on product through the use of information and communication technology.
6.     It reduces the significance of other factors of production in banking sector through information and communication technology
7.     It becomes possible for one country to provide services irrespective of distance thereby. Breaking the geographical barriers. More elbow to information and communication technology also to telecommunication in particular, because of the enablement of transaction that takes place within one bank and other without boarder restriction.
Therefore as a result of connectivity of their operation on ICT based system the bank with information and communication technology services have become profitable (Agene 2002).
2.10 IMPACT OF INFORMATION AND COMMUNICATION AND COMMUNICATION ON ECONOMY
The revolution of ICT in recent years aptly captured the establishment and access to a global networking of information stems, has positive influenced time and space in sending and retrieving of information. Both within and across countries and regions. The development has brought about drastic changes in the way in which decisions are reached and policies implemented in the organization. Information and communication technology made contribution to the global search for efficient and effective solution processing and often complex, local, regional problems.
The response to the absorption of elements of the technology also necessarily different, indeed, in accessing the impact of ICT in developing countries.
There are reasons why the impact of ICT on economy is more important.
1.         The services are easily and more readily targeted for reforms (telecommunication financial services are also the examples)
2.     Because of the reutilized character of producer services such as accounting, banking and finance these are readily programmed and also impacted by ICT (especially computerization).
3.     Service have undergone tremendous technological transformation in the use of management base and information intensive technology.
4.     Changing in the structure of industry and services.
5.     Employment structure training manpower
6.     Telecommunication infrastructure and revolution of service delivery of existing infrastructure, especially power system.
7.     Improve the production process and products
8.     Development of industrial organization and
Management
2.11 ADVERSE EFFECT OF INFORMATION AND COMMUNICATION TECHNOLOGY
Banking in Nigeria in the past and now still operate large of book keeping manually that hinge labor forces employed or needed to tackle massive volume of data.
Information and communication technology affect banking industry despite their development and contribution to the organizational life.
1.     It changes the work environment. There are now problems for premises managers in adapting the environment to technology in terms of space, heat, noise, ventilation, control of static electrically, wire and cable management etc.
2.     It employs changes in the nature of work and structure of the work force by requires new skill in technology management and operation.

3.     It reduces the number of workers to be employed and making human intervention unnecessary for some process (but possibly liberating staff for different roles e.g. sates or
Consultancy).
4.     Another adverse effect is power supply that short system down sometimes most bank find it difficult to carry successfully that acquired online failure from NITEL line are often as a result of NEPA’s inconsistence and erratic power supply.
5.     Lack of international maintenance skill and lack of information and communication technology management, knowledge, among other (Juga 2001).
CHAPTER THREE
3.1 RESEARCH METHODOLOGY
Data is collected from two main two main ways for this research work. These are:
(i)          PRIMARY DATA: These are the data generated from the use of questionnaire, observations, interviews and suggestion that are revived from the respondent. The primary data instrument that are used in the this research are the following:
(a)  QUESTIONNAIRE: This is a research instrument consisting of series of questions and other prompts for the purpose of gathering information from the respondents.
(b)  OBSERVATION: This is a method of data collection in which the situation of interest is watched and the relevant facts, and behaviors are recorded. It is a direct participation by the researcher in studying activities of the research.
(c)   INTERVIEWS: This can be describing as the physical exchange of question and answers by both the researcher and the respondents. There are two types of interview, these are structure and unstructured. However, the type of interview that was used in this research work is unstructured interview.
(ii)        SECONDARY DATA: These are the data which the researcher collected from someone else records . some of the secondary data that was used un this research work are: Reports, journals, internet, textbook. Etc.
Some of the secondary data that are:
(a)  JOURNALS: This can be describe as a publication of a particular organization that appears at fixed interval i.e monthly, quarterly, twice a year or yearly. In this research, the researcher makes use of the journals of the case study. i.e Afribank plc.
(b)  INTERNET: This can be describe as an international information network linking computers. Whereby the researcher can gather information for the purpose of this project.
(c)   TEXTBOOK: This is the source in which the researcher can gather information for the research project through another’s person’s publications.
3.2 THE STUDY POPULATION AND SANPLE SIZE
The populations of this research work world comprise of the staffs and customers of Afribank plc Ilorin.
SAMPLE SIZE AND SAMPLE TECHNIQUES
The sample sized is based on the numbers of fifty questionnaires that would be administered within the staffers of united bank for Africa and their customer base in Ilorin.
The customer were both sexes, that its male and female and as regard the management staff of the bank length of service and educational qualification were duly considered.
The kind of sample to be drawn from the population guides the research in selection of the method of sample or sampling techniques.
As a matter of fact the customers of afribank PLC are heterogeneous. In this study, therefore, stratified sampling techniques is adopted for easy empirical examination and with various methods like personal interview, library work and questionnaire and this was achieved through random sampling by selecting only Ilorin branch office as a representative of the entire staffers and customer of afribank plc. All the data’s analyzed will be generalized or bind on the entire organization.
3.3 SOURCES OF DATA COLLECTION
Population used for gathering for this research work is staffers and customers of Afribank plc. The data sources be used would be both primary and secondary data.
The primary data this consist mainly of questionnaire and personal interview. The questionnaires which consist of fifty questions were mainly designed to get some facts about the objective and operation of ICT at afribank PLC. It also enables the researcher to acquired information about the effectiveness, the degree and short comings of the ICT. The questionnaires were further supported with personal interview held with the people in the related field of the research topic.
The secondary data consist of internet work, historical data from text book, hand book bank journal, central bank annual reports, and economic reports, research student academic and personal experience. Other secondary data is the information and advice given by the respondents made this project a complete and this work will be of immense use to any one who might reference it.
Library source are also used in order to complete the information gathered from various researcher conducted and interview mentioned above, relevant text books and journals that deal with the subject matter of this project i.e. impact of information and communication of Nigeria banking industry were also consulted for good assistance in the completion of this project.
3.4 ADIMINISTRATION OF THE DATA COLLECTION INSTRUMENT
The questionnaire will be administered to the management staff of Afribank plc and their customer. The questionnaire is structure in such a many as to obtain relevant information needed for study. The questionnaire is done in such a manner of providing list of solutions which the respondent has to fill in the answer and make other remarks.
Fifty questionnaires were administered. Out of these fifty questionnaires that were sent out, only forty seven were received from the respondent.
3.5 PROCEEDURES FOR PROCESSING COLLECTED DATA
Response to the items in the questionnaire will be summarized and interpreted into quantified, response will be ranked to measure the extent of their significances to the survey statistical tools of frequency and chi-square computation will be used to measure the significance of response.
Frequency enable and descriptive analyses based on the questionnaire administered were in analyzing the impact of information and communication technology on Nigeria bankrupt industry.
The stated hypothesis will be tested using chi-square methods.
X2     = ∑ (Fo-Fe)2  FO1 = observe frequency
 Fe
FO=          observe frequency
Fe    =      expected of theoretical frequency
∑=    or e = expected out come
Where      x      =     variable
M     =      mean
0=    standard deviation
FO-Fe       =      observed frequency- expected frequency
x2 < = chi-square calculated
 x2 t I = chi-square table
V      =      degree freedom (Row-i) (column-i)
The level of significance to be used is 5% where expected frequency
=      rtxct
N
∑F    =e    expected frequency =       ∑rt x ct
                                            N
Decision rule option
If x2 C< x2 t accept Hi and reject Ho
If  x2 C< x2 t accept Ho and reject Hi
3.6 LIMITATION OF THE METHODOLOGY
This research work has carried out by focusing on the staff management and customer of Afribank PLC, which is the case study of this work.
There are certain limitations that affect the overall success of any research work to which this project work is no exception.
Some of these limitations are:
LACK OF ADEQUATE TIME; The time consumed in putting
together the information needed for this research work is so small in terms of data collection.
INADEQUACY OF FUNDS; One of the limitations of this research work is the problem of funds. The analysis and gathering of data involve much money.
FILLING OF THE QUESTIONNAIRE WRONGLY; another limitation n faced in the course of collecting data is wrongly filling of the questionnaire by the respondent.
UNCOPERATIVE ATTITUDE OF THE RESPONDENT; Some of the respondent are willing to give a good answer to the questionnaire giving to them.

CHAPTER FOUR
4.1 DATA PRESENTATION AND ANALYSIS
This chapter deals with how data were presented, the method of such data collection and also the analysis and justification. It will also describe the various statistical techniques that will be employed in providing answer to research question hypothesis testing.
The work of statistical is often incomplete even when investigation has reached its peak where data has been analyzed and important conclusion has been draw.
Regardless of whether a study is intended for conclusion by report in new paper publications for public display or advertising as possible to the readers when they are supposed to read, more often to the readers when they are supposed to read, more often than work was explained.
The recent study has shown that banks that manage and direct information and communication technology investment properly realized. From information and communication technology investment (Aderson 1999) since this research work shows that purpose of assessing the impact of information and communication technology in the Nigerian rain banking industry, with emphasis on UBA was to actualizes the recent development of information and communication technology.
This study is printed by questionnaire and hypothesis. The respondents are classified according to department, sex marital
status and educational qualification, the number of questionnaire that was administered was fifty and forty seven was returned filled with responses by the staff and customers of afribank plc.
4.2 DATA ANALYSIS
TABLE 42.1 RESPONDENTS BY DEPARTMENT
Department
Frequency
Percentage%
Marketing
12
25.53
Accounting / auditing
10
21.28
Operation
11
34.40
Admire
9
19.15
Others
5
10.64

47
100%
Research  survey 2011
Text Box: FrequencyRESPONDENTS BY DEPARTMENTS
Department
 
Tab(e 4.2.1 shows that 12 (25.53) of the respondent in
marketing department 10 (2L28) of the respondents in accounting and auditing 11(34.40) of the respondent in operation department a (19.15) f the administration department and 5(10.64) of the other department. This shows that the questionnaire spread a cross alt the department in the organization.
TABLE 4.2.2 RESPONDENTS BY AGE
Research survey 2011
Text Box: Frequency 
As indicated in the bar chart 4.26% below 20 years, 21. 28% are21-30 years between 31-40 (53.19) of the respondent between 31- 40 and (21.28) are of the respondent above 40 years
4.2.3 RESPONDENT BY SEX
1
 
Research survey 2011
Text Box: FrequencyRESPONDENTS BY SEX
                                                        Key
                                                       



The 42.3 show that ma)e respondent is 57.45 and female respondent is 42.55. Conclusively it shows that single staff is higher that female.
4.2.4 RESPONDENT OF MARITAL STATUS
Research survey 2011
RESPONDENT BY MARITAL STATUS
Text Box: Frequency
Table 4.2.5 shows that 17(36.17) of the respondents are single and 30(63.83) are of the respondents are married. It shows that married respondents are more than the single respondents.
Table 4.2.5 Respondents by Education Qualification
Research survey 2011
Respondents  by Educational  Qualification
Text Box: Frequency
HND has 44.68%, PNO/MSC has 1489% and others has l9.l5% BSC/HND shows highest percentage of all respondent. It shows that majority of this respondent are graduates.
      4.3 TEST OF HYPOTHESIS
Section B. need for information and communication technology. Here, question 7, 8, 9, 10 and Ii are cross tabulated and the result are shown below:
              WORKING HYPOTHESIS
HO: The introduction of information and communication technology does not improve bank week and volume of capital base in Nigeria banking industry.
Hi:    The introduction or information and communication technology’ improve batik with bank week and volume of capital base in Nigeria banking industry.
Table 4.2.6 frequency observed on test 1 level of significant = 0.05 Degree of freedom =     (r-1) (c-i)
=      (5-I)--(3-1)
=      (4) (2)
=      8
x2 31.08, 8       = 15.507
see appendix III for chi-square calculation
Decision rule: Reject the null hypothesis if the calculated value is greater than the table value and accept the alternative hypothesis.
Conclusion: Since the calculated value is greater than the table value therefore, the null is rejected and alternative hypothesis is accepted which says that the introduction of information and communication technology improve bank work and volume of capital base in Nigeria banking industry.
4.2.6 Section C: Service render by information and communication technology
Here, question 12, 13, 14, 15 and 16 are cross tabulated and the result are shown below.
Working hypothesis
HO: The innovation of new electronic fund transfer does not ease the risk of caring cash
HI:    The innovation of new electronic fund transfer can ease of the risk of caring cash.
Table 4.2.6 Frequency Observed on test II Level of significance 0.05
Degree of freedom    =      (5-1) (c-i)
=      (5-1) (3-1)                X2  = 16
=      (4) (2)
=      8
x2     =      20.237, 8 = 15507
see appendix II in chi-square calculation
--
 
Decision Rule: Reject the null hypothesis W the calculated value is greater than the table and accept the alternative hypothesis.
Conclusion: Since the calculated value is greater than the table value therefore, the researcher reject the null hypothesis and accept the alternative which says the innovation of new electronic
fund transfer ease the risk of caring cash.
4.2.7 section D; Problems of information and communication technology
Here question 17, 18, 19 and 20 are cross tabulated and the result are shown below:
Working hypothesis
HO: Information and communication technology does not bring changes to the nature of work and structure in Nigeria banking industry.
Hi: Information and communication technology brings changes to the nature of work and structure in Nigeria banking industry Table 4.2.7 frequency observed on test level of significant = 0.05
 Degree of freedom (r-i) (c-i)
=      (4-1) (3-i)
=      (3) (2)
=      6 12.502
 x2 = 13.535, 6 = 12.502
see appendix III chi-square calculation
Decision Rule: Reject the null hypothesis if the calculated value is greater than the table value, accept the alternative hypothesis.
Conclusion: since the calculated value is greater than the table value therefore the research reject the null hypothesis and accept the alternative which says information and communication technology brings changes to the nature of work and structure in Nigeria banking industry.
4.1.8 Section E. solution to the problem of information and communication technology
Here, question 21, 22, 23, 24, 25 and 26 are cross tabulated and the results are shown below
Working hypothesis
Ho:   Information and communication technology does not enhance banker customer relationship
Hi:    information and communication enhance banker customer relationship
Table 4.2.7 Frequency on test level of significant = 0.05 Degree of freedom         =      (r-1) (c-i)
=      (6-1) (3-1) x2  = 100
=      (5) (2)
10 = 18.307
see appendix IV for chi-square calculation

 
Decision Rule: The null hypothesis. If the calculated value is greater than the table value, accept tile alternative hypothesis.
Conclusion: Since the calculated value is greater than the table value therefore, the null is rejected and alternative hypothesis is accepted which says that the introduction of information and communication technology enhance banker consumer relationship.
4.5 POLICY ISSUE AND APPLICATION
From the results obtained after analyzing the relevant data, it could be concluded that information and communications technology is very vital and should be widely accepts by the banking industry as a means of rendering efficient services and enhance capital base of the banks.
The use of information and communication technology in the banking industry will yield to enhancement of banker customers relationship and subsequently brings growth to the banking industry.







CHAPTER FIVE
5.1 FINDINGS
After a through analysis of the various research question and defensive hypothetical test the research was able to arrive at the following:
1.     High cost of installation of information and communication technology systems (computer)
2.     Poor maintenance culture and poor management of the information and communication technology system by management staff
3.     Poor security problems due to negligence as part of the management staff whereby wrong and fraudulent input are stored in the system by intruders and fraudsters.
4.     Inadequate man-power due to lack of enough management staff to take up the work
5.     Poor telecommunication problem due to hanging and seizing of vital and useful information on the system
6.     Resistance to charges whereby• the customer of the bank resist to pay necessary charges with the believe that charges are too expensive for the type of services rendered
7.     Poor infrastructure and epileptic supply of Power Holding Company of Nigeria (PHCN) i.e. shortage in power supply
5.2 SUMMARY OF THE STUDY
The research work has proved that innovation in information and communication technology are greatly introducing new ways of functioning and thinking in our personal, organization as well as professional lives. Therefore, the spreading nature of information and communication technology application is influencing the kind of banking projects introduced by Nigeria market in these same manners as in other part of the world.
Despite banks general application of the benefit of and communication technology, the reason why some have refused to embark on whole sale automatic are resistance o charges, inadequate man-power, lack of fund, poor telecommunication, poor infrastructure and epileptic power supply of PHCN Information and communication technology in Nigeria banking sector has improved management efficiency increased customer base and deposit mobilization.
To sum up, information and communication technology is at the heart of modern banking and its difficult to envisage a bank up creating without information and communication technology system.
In addition, information and communication technology in Nigeria banking sector is a sword with double edge and must be carried with caution (Zuniga 2001)
5.3 CONCLUSION
The appeal of information and communication technology is very strong and it sis high needed in order to improve the quality of services of the banking sector in Nigeria. through large segment of the banking sector in Nigeria is still on the fringe of high information technology revolution.
Information and communication technology in Nigeria banking sector is a conventional break through because it has succeeded to some extent in transferring the manual operative in banking sector t a form of computerized banking services (sandal 2001).
Its generally belief that technology operation cannot be done without the use of computer and this has place a researcher interest of the people on the usage of computer even virtually every business organization and also it has been useful to an extend that graduate without computer literate secure no reasonable job.
Information and communication technology is the use of micro electronics and telecommunication to provides, store, obtain and send information in the form of pictures, words or numbers more reliable quick and economical.
5.4 RECOMMENDATION
Useful recommendation based on findings of the research is Deemed necessary having undergone a through study of the impact of information and communication technology on the banking success. The economical benefits of using computerized system in the banking industry were exhaustively eliminated in the literature review.
1.     Due to high cost of installation information and communication technology system are world like to recommend that banks that can not do it alone can pull resources together by forming a consortium to acquire some of the ICT facilities e.g. VSAT (very small Aperture Terminal) or lease from bank that do have it. a typical example of this serious is UBA’s Telesys Ltd which serves former Hall mark bank.
2.     We would also recommend that staffs should be sent to training so as to know the maintenance culture and management of the UCT system or better still showed employ expert in computer programming
3.     Despite the advantages and benefits that it offers it is not totally devoid of some defeat fraud can still likely occur more seriously in financial industry since large amount of fraud may be easier to perpetrate economically than with manual be easier operation and this explain why UBA PLC decide o employ the services of various ICT firms to train and retain their staff on how best to use ICT in banking to avoid various ICT security codes beaten by fraudsters (UBA Annual Report 2000)
4.     To overcome the problem of poor telecommunication, inadequate man-power, banks should go to contract with information and communication firm to hire their staff to manage and work hard. They should also employ more hands so as to enhance efficiency and to achieve the overall objective of the bank.
5.     In addition to this future prospect of the banking sector which it adopts the best and latest technology lies on the fact that ICT can make Nigeria banking sector very and more reliable.
6.     A stand by generator and that advancement of the sector to greater height with guaranteed.
5.5 REFERENCES
Agboola O.M (2010) Introduction To Computer Applications
      Package and Management Information System. Ilorin Olad Printing Press.
Asapka S.O (2006) Basis Of Computing. Dekunle Printing Prees Offa.
Charder L.O (2000) Strategic System Planning for financial Institution Using Automated Solution and Technology For Comparative Advantage Long Man London.
Dalner fisher. (2003) Communication in organization. 2nd Edition. West Publishing Company
Euis M.W (2000) Banking on the Web. Financial Technology Review. Economic Money Publication
Igbe-C (1999) Computer Technology Principle and Modern banking Lukeman .A. (2002) Computer in Banks A Comparted AVID press Ltd Lagos
Lukman .A (2002)Computer in Banks. A Compacted Analysis VID Press Limited Lagos.
Oliver E.C, Champman R.J, Ajacquet, French C.S(1999)
       Data Processing and Information Technology. Great Governcey Press.
Juga O. (2001) Information and Communication Management


Kwara State Polytechnic,
Department of Banking & finance,
P.M.B 1375
Ilorin.

The Manager,
Afribank Nigeria Plc,
Ilorin Branch.
Ilorin.
Dear Sir/Ma
QUESTIONNAIRE
I am a final year student of the department of banking and finance Kwara State Polytechnic, Ilorin as part of the condition for the Award o Higher National diploma (HND) conducting a study on impact of ICT on Nigeria banking industry.
I shall therefore be very grateful if you could do me a favour in completing the attached questionnaire as objectively as possible.
Please be assure that any information given in this regard will be treated confidentially and used only for the purpose of this academic exercise.
Thanks for your unreserved assistance
Yours faithfully,
Otunla Temitope A.
QUESTIONNAIRE TOPIC: APPRASSING THE IMPACT
OF ICT IN THE NIGERIA BANKING INDUSTRY
Please kindly complete the below questionnaire by putting mark and writing in the space provided
SECTION A
1. Name of the Organization…………………………………………
2. Department………………………………………………………..
3. Age 18 - 2O (                )       21-3O (    )       31-4O
31- 40 (    )       4O-above(                )
4. Sex a)   Male (       )        Female   (       )
5. Marital Status       Married   (       )
Single (    ) divorce   (      )
6. Education qualification       NCE/OND        (      ) HND/Bsc(      )
MBA/MSC       (       ) Others (          )
SECTION B  NEEDS FOR ICT
7. Do you think ICT can promote AfriBank  management efficiency? Yes        (        ) No (                ) Indifferent (    )
8. ICT enhance fast growth of your bank?
Agree (      ) Not Agreed (   ) Not at all (      )
9. Do you think ICT can improve the bank work and volume of capital base? Strictly  (  )       Rarely   (  )  Not at all(     )
10.  ICT restore public confidence in your bank?
Agree  (     ) Not Agree (     ) Not at all (      )
11. Would you say, ICT can make the banking industry globally competitive? Strictly (   )Rarely  (  ) Not at all  (     )
SECTION C
SERVICE RENDERED BY ICT
12. Did your bank provide smart cash and electronic data interchange (EDI) service to your customers?
Yes ( ) No ( ) Indifferent ( )
13. Would you say the new innovation of electronic fund transfer can ease the risk of caring cash?
Strictly (   )Rarely  (  ) Not at all  (     )
14. Did your bank provide ATM service to your customers?
Yes (         ) No (        ) Indifferent (    )
15. The use of society for world interbank financial telecommunication  (swift) has help inter bank networks
Agree (      )       Not Agree (       )       No at all (         )
16. your bank provide Internet banking services to your customers? Strictly (        )Rarely  (  ) Not at all  (     )
SECTION D: PROBLEMS FACING ICT
17. Do you think ICT require special skill and knowledge from your staff? Agree (       )       Not Agree (       )       No at all ( )
18. Can ICT leads to unemployment?
Strictly (   )Rarely  (  ) Not at all  (     )
19. Do you think loss of signal did not affect customer patronage? Strictly (        )Rarely  (  ) Not at all  (     )  
20. ICT brings changes to the nature of work and structure of your bank? Agree (       )       Not Agree (       )       No at all ( )
SECTION E: SOLUTION TO THE PROBLEMS OF ICT
21. Do you think your bank service can strongly and better improve through ICT?
Agree (      )       Not Agree (       )       No at all ( )
22. Do ICT enhance banker customers relationship of your bank? Strictly (        )Rarely  (  ) Not at all  (     )
23. Can ICT enhance quality of services render by your bank
bank? Yes (      ) No (       ) Indifferent (           )
24. Do ICT reserve the daily visitation of your customers?
Strictly (   )Rarely  (  ) Not at all  (     )
25. Would say ICT of your bank leads to profit maximization?
Strictly (   )Rarely  (  ) Not at all  (     )
26. Do ICT reserve long hour waiting of customers?
Strictly (   )Rarely  (  ) Not at all  (     )
SECTION F GENERAL CONCLUSION
21. What do you think your bank can do to ensure that problem face as a result of the recent ICT facilities is eliminated
1……………………………………………………………………………
2…………………………………………………………………………….
3………………………………………………………………………………
4 ……………………………………………………………………………..
GENERAL COMMENTS………………………………………………
……………………………….........................................................................................................................................................................................................................................


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