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IMPACT OF INFORMATION TECHNOLOGY ON PERFORMANCE OF BANKS IN NIGERIA
ABSTRACT: Over the last two decades, the Nigerian banking sector has witnessed some upsurge in the use of technology for service delivery. However, concerns have been expressed as to whether cost and other challenges of adopting information technology can be justified by performance. Accordingly, this study sought to examine the relationship between different e-banking channels and the profitability of organisations in Nigeria. Four e-banking channels,(automatic teller machines, point of sales, internet banking transactions and electronic mobile banking) were identified and regressed against return on equity (ROE) of Deposit Money Banks operating in Nigeria between 2006 and 2016. A panel data regression model was formulated and tested using the generalized method of moment approach. The result revealed that the overall impact of electronic banking on profitability of Deposit Money Banks operating in Nigeria was significant and positive. The study recommends that critical stakeholders and beneficiaries of electronic banking – the government, regulatory authorities and the banks should collaborate to put in place an enabling operating environment and an effective regulatory framework to bring about optimal deployment of these services to customers
KEYWORDS: Information technology, Deposit money banks, Profitability, Generalized method of moments.