TABLE OF CONTENTS
PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of contents vi-viii
CHAPTER ONE
1.0 Introduction
1.1 Historical background of
Afribank Nigeria Plc.
1.2 Statement of the problem
1.3 Purpose of the study
1.4 Research question/
Hypothesis
1.5 Significance of the study
1.6
Scope of
the study
1.7
Definition
of terms
Reference
CHAPTER TWO
2.0 Introduction
2.1 Evolution of Banks in
Nigeria
2.2 Manual operation in banking
2.3 Computerization of Banking
Operation
2.4 The Accounting and the computer
2.5
Internal
control of computer in banking operation
2.6
Computerization
in Afribank Nig. Plc
2.7
Challenges
resulting from 25 Billion Recapitalization of Afribank Nig. Plc.
Reference
CHAPTER THREE
3.0 Research Methodology
3.1 Research design
3.2 Population of the study
3.3 Sampling design and
procedures
3.4 Data collection instruments
3.5
Procedures
or method for data analysis
Reference
CHAPTER FOUR
4.0 Data analysis and
presentation of findings
41. Introduction
4.2 Data presentation
4.3
Test of
hypothesis
Reference
CHAPTER FIVE
5.0 Summary, conclusion and
recommendation
5.1 Summary
5.2 Conclusion
5.3 Recommendation
Bibliography
Questionnaire
CHAPTER ONE
1.O INTRODUCTION
There
is no doubt, we are in the information technology age of which the computer
plays a very active role. This has invariably turned the whole world into a
global village with new innovation setting in a rapid succession.
As
a result, banking industry like any other industry, has attempted in
utilization of capabilities of the computers in order to improve service and
confidence on the part of their customers as well as tap the computerization to
improve on their own efficiency.
In actual
facts, computerization has achieved a lot in solving a major quieting problem
in banking halls couple with serious delay to that is rather known as one stop
banking i.e. you get into the bank and get any financial service need for them.
This has made some banks very successful since the same services can be
rendered better and at a faster rate than what can be obtained from another
place or bank that is not computerized.
1.1
HISTORICAL
BACKGROUND OF AFRIBANK NIGERIA PLC
Afribank
Nigeria plc was granted a license to
carry on banking business on 20th October, 1959 and began operation
with the opening on 4th January, 1960 of a branch in Kano and other
shortly afterwards in Apapa, Lagos and
its
head office subsequently established in 1961 at No 94 broad street, Lagos.
In
1964, the bank originally owned by a Banquede L’Afriqqu Occidental (BIOA) to
reflect 49% acquisition of first National
City bank Incorporation. The bank was later
incorporated as a private limited company under the Nigeria Company decree 1968
on 30th May, 1969.
In 1976, the Federal Government of Nigeria acquires 60% ownership of the bank
equity share out of which 10% was later transferred to the staff to bring the
government holding to 50% while BIOA retained 40% shareholding as a technical
partner.
Later
in 1980, the bank share capital increased from N3.6M to N6m. that also saw the
bank having its first Nigeria
chairman in the person of Alhaji. T. Galadima. Today, Afribank is one of the
most diversified banks in the country with the following wholly owned
subsidiaries.
1.
Afribank International Limited (Merchant Bank)
2.
IBWA Finance company, Dublin, Republic of Ireland
3.
Afribank Estate Company Limited
4.
The Afribank Insurance brokers
5.
The African finance company limited.
In
the finance industry, Afribank now occupied on equitable fourth
position.
Its has network of branches covering the entire country with the aid of
financial core and Globus software enable them access to all their customers
accounts in all their branches. There is
no delay of getting to where you open an account before you withdraw money
except when the network fail which is or common. A wide spectrum of corporate
institutions and customers enjoy the professional services of the bank in
meeting their financial obligations and objectives.
The
bank mission is to achieve the position of a leading international financial
institution providing comprehensive and quality banking and financial services
and its structural according through three (3) directorate structure each
headed by an executive director as follows
·
Banking operations, which is responsible to branches
operations and equally in charge of mortgage and agricultural finances as well
as recoveries and security.
·
Finance and corporate client, which enhance the
quality of services, rendered by the banks as its combine computers
applications with the aids of Globus software to make their services fast and
attractive in corporate finance.
·
Corporate development and services, which is, charged
with the management of human and materials resources of the banks.
1.2
STATEMENT
OF THE PROBLEM
A major problem that had faced Afribank Plc, is the
common method in use, that was manual operation and this made their performance
and services to be too slow, boring and unattractive. Some operations were
computerized and some are not but with the introduction of computerization,
there is rapid improvement in their services and activities as well.
Obviously, before introduction of computer technology,
customer statement of account was not being promptly made available, sometimes
for remittance of periodical returns to be Apex bank, Central Bank of Nigeria.
But with the introduction of computerization, statement of account is being
promptly provided and it also affords easy and speedy preparation of returns to
the Apex bank.
1.3
PURPOSE OF
THE STUDY
To
investigate and analyses the role of the computer in the services of the
banking industry.
To
access the effect of computer ha affected customer’s satisfaction.
To
find out the advantages gained in using the computer.
1.4
RESEARCH
QUESTION
This
study will attempt to find reasonable solutions to the following questions:
What
effect does computerization perform in banking operations?
In
what ways has computerization helped and reduced unhealthy performance in
banking system?
How
have the introduction of computer in the bank improve the efficiency and
effectiveness of the banking operations?
Is
there any major difference is computer operation in the banking sector compare
to any other commercial sector?
What
are the problems encountered in computerization in banking activities?
HYPOTHESIS
Ho: Computerization
has brought changes in the work Structure of banks.
H1: Computerization has not brought
changes in the work Structure of banks.
Ho: Computerization
has eliminated the chance of fraud in the
banking
industry.
H1: Computerization
has not eliminated the chance of fraud in the banking industry.
1.5
SIGNIFICANCE
OF THE STUDY
The
role of the banking industry in a nation economy cannot be over emphasized. It
can be likened to the oil, which the entire industrial set up may ground to a
halt, the basic services provided by banks industry includes: relieving money
(deposit) from outside sources for safe keeping based on the payment of an
interest charged to the banking, giving out loan to credit worthy customers,
purchase and sales of foreign currency for and behalf of customer’s and money
transfer. By mobilization savings and creating credits, the banking system
performs a vital role in the over all development of a nation. It is the
business of banks channel resources saved with them to those sectors of the
economy that need the funds for their operations. Moreover, with the
application and utilization of computers system in the banking industry, banks
can derive benefits from the computer system which includes improved job
efficiency in the area of the mental physical human resources which can be
directed towards more intelligent and more decisional tasks against the procedural
repetition
activities
which the compute can efficiently and accurate services, fraud
prevention or detention (through the computer
audit trail) effective account ability, better customer satisfaction, most
current information (through the computer on-line validity procedure) easy and
friendly (yet security conscious) access to information and the effective and
efficient usage sharing of the stored information. Computer has been found very
useful and quite interesting too not only in a typical office or banking
environment but also at home and other business out let and even in purely manufacture
set-up.
1.6
SCOPE OF
THE STUDY
This
research work shall entail a brief survey of the effect of computerization in
the banking industry, it must be pointed out at his early stage that despite
the great interest the researcher have in this topic, the research study will
not be regard as being perfect. This research work, which include:
i.
Scope: The scope
of the study is limited to the effect of computerization in the banking
industry.
ii.
Time: Since
time is very precious the study would be limited to whatever information that
is available within the reasonable time.
iii.
Effect: the major
constraint to the research work is the effect of computerization on the
performance of Nigeria banks.
1.7
DEFINITION
OF TERM
BANK: A bank can
be defined as the body of person whether incorporated or not who carry on the
business of banking (Bill of exchange Act 210)
GLOBUS SOFTWARE: This is the
software used which enable them access to all their customers account in all
their branches so that there will not be any delay of getting to where you open
an account before you can withdraw money except when the network fail which is
not in them or common. Globus software
aids their services fast and attractive in corporate finance
MONEY TRANSFER: With the
help of computerization, money transfer is easily to occur without any problem
encounter in as much as the procedure has been put in place the money will
definitely shown in the account of the customer.
CREDIT CARD: Through the
help of computer it is easily to cash money and where in as much as there is
money in the account and the pin code is not being used by any other person
which attract to fraud committed by another person.
FINANCIAL MARKET: Bank cal
also be called financial market where service provided by banks industry
includes: relieving money (deposit) from outside sources for safe-keeping based
on the payment of an interest charged to the banking giving out loan to credit
worthy customers, purchase
and
sales of foreign currency for and on behalf of customers and money
transfer. By mobilization savings and creating credit,
buying and selling of security for account and others.
COMPUTERIZATION:
Introduction of computerization into banking industry improved job efficiency
in the area of mental physical human resources which directed more intelligent
and more decisional tasks against the procedure repetition activities which
computer can provide accurate services, fraud presentation or detection,
effective account ability, better customer satisfaction, most current
information through the computer on-line and access information usage sharing
and storing.
Section
(1) explains that an Acceptance house means any person in Nigeria who transacts
banking business and whose business mainly consist of granting acceptance
facilities or whose operation are in the opinion of the central bank, those of
an “Acceptance House” and “Discount House” means any personnel in Nigerian who
transacts banking business whose business mainly consistent of trading in bills
of exchange, treasury bills or other securities. In addition to engage is major
actives of acceptance house, discount house, and Afribanks are highlighted by
the decree, Afribanks perform a common activity of all banks – the Business of
banking which the 1969 decree defines as the business of receiving money from
outside in form of deposit, irrespective of the payment of interest or
the
granting to loans and acceptance credit or the purchase and sale of security
for accounts of others or the incurring of the obligation to acquire claims
irrespective of loan prior.
Click “DOWNLOAD NOW” below to get the complete Projects
FOR QUICK HELP CHAT WITH US NOW!
+(234) 0814 780 1594
Login To Comment