ABSTRACT
Since the past years, name of the students of the
department of accounting either NCE or B.SC has made any write up in the topic
Nigeria tax system. In view of this, it is necessary and important to let
students of accountancy department and necessary and other department to know the important of tax
system in the development of Nigeria economy. This has become imperative
because of the ignorance of people on important of tax system, which has been a
hindrance on the economic development. People usually feel cheated when asked
to pay up their tax liabilities. If people are aware of he aims, objectives and
contribution of the Nigeria tax system to the economy, they will not feel
reluctant to discharge their civic responsibilities while the government will
not hesitate to provide the masses with vital social amenities.
TABLE
OF CONTENT
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Table of content vi
Abstract ix
CHAPTER ONE
1.1
Introduction 1
1.2
Statement of the Problems 4
1.3
Research Question 5
1.4
Objectives of the Study 6
1.5
Research Hypothesis 7
1.6
Significance of the Study 8
1.7
Scope of the Study 8
1.8
Definition of Terms 9
1.9
Plan of the Study 10
CHAPTER TWO
2.1 Introduction 11
2.2 Meaning
and concept of Information Communication
Technology and Globalization 12
2.3 Computer and Telecommunication 14
2.4 Information and Communication Technology
Oriented Product and Services 16
2.5 Benefits of the Application of Information and
Communication Technology 19
2.6 Challenges Facing the Application of Information
and Communication Technology
in the Nigeria Banking Sector 21
2.7 Historical Background of union Bank of
Nigeria Plc 23
2.8 Current Development of Information and Communication
Technology of Union
Bank of Nigeria Plc 25
CHAPTER THREE
3.1 Introduction 27
3.2 Sources
of Data 27
3.3 Identification
of Population Size and Sample 28
3.4 Method
of Data Collection 28
3.5 Method of Data Analysis 28
CHAPTER FOUR
4.1
Introduction 30
4.2
Data Analysis and Presentation 30
4.3
Analysis of Questionnaire Administration 30
4.4
Analysis of Personal Data of Respondent 31
4.5
Analysis According to Research Question 33
4.6
Hypothesis Testing 36
CHAPTER FIVE
5.1 Introduction 39
5.2 Summary of Findings 40
5.3 Conclusion 40
5.4 Recommendations 41
Reference 43
Questionnaire 46
CHAPTER
ONE
1.1 INTRODUCTION
A
powerful force drives the world towards a company commodity and that force is technology
(LEVITT
1992) from the beginning of the human era, technology has been one of
the most essential and most important factors for the development and mainland
(idoms et al, 1987). During the last two decades, technology changed often been
related to economic growth in the form of new types of goods and services. Smith
(1.976) first wrote about technical change in the form of new machines as one of
the three important causes of increasing incomes more than two decades ago.
It
is now generally accepted that, days traditional banking operation systems and
services. These are no doubt that the effects of technology based credit assessment
system, technology driven product development and computerized human resources management
system, financial planning and monitoring system have completely altered the terrain
for competition in the banking industry globally. Information has increasingly become
the life of blood of any organization and the management of enterprises through
Information and Communication Technology (ICT) has become an important strategy
in any banking institution.
The
greatest innovation that has taken place in the last two decades, Information
and Communication Technology is the introduction of computer and advances in
Information and Technology, which have transformed the global economic and have
particularly put the banking sector on accelerated pace development. The
information revelation has led to the convergence of the computing the
telecommunication network, covering the would through cable and satellite information
supper highways. Global networks have dismantled national boundaries and barriers
and created a global village where one can access information from any part of
the world by the mere touch of mouse.
The
banking industry today appears to be truly improving with the technology and
aiding globalization and integration of the world financial markets, there has been
quantum jumps in the expectations of customers for newer product and alternative
delivery pressure today about what customers are expecting in the future.
Information
and Communication Technology (ICT) can therefore be defined as the modern handling
of Information by electronic means of Communications (Ige, 1995) Information and
Communication Technology has become helpful by allowing companies to gain access
to their bank statement on personnel computer and also individual on their inabile
planned.
DEVELOPMENT OF INFORMATION AND COMMUNICATION
TECHNOLOGY IN NIGERIA SECTOR
Development
in a country can be measured in terms of it’s overall social, economic and
political development. But no matter how develop the country is, it cannot be
self sufficient, there is an everyday urge to improve in the social relationship,
and economic development.
In
Nigeria, during the pre-colonial era, there was always an interaction which starts
mostly from trading activities which enables for country to exchange what it is
had for what it requires. Trading was carried out among the various tribes that
made up the present Nigeria Nation through the primitive methods of trade by banker
systems which is the exchange of goods for services. However, as society grew more
complex, these methods of exchange became insufficient coins and paper not were
introduced and these made it easy for any amount of goods and services to be acquired
at the exchange of such coins and paper notes.
The
use of information technology is widespread from the most developed countries through
the developing countries to the least developed countries, although the extent of
overall use in directly related to the level of development. Deposit money bank
since they are highly information intensive; have invested in Information and technology
extensively. In developed countries, Information Technology has become a
necessity for Financial Institution keep on trying to come out with new
services / products.
1.2 STATEMENT
OF THE PROBLEMS
The
complexity of modern day banking necessitated the use of information and
communication technology.
Therefore, the mobility of banks to fully
adopt information and communication technology is the major research problems.
Although, most banks in Nigeria claim
to have computerized their operations, it’s mostly in the areas of quotation of
simple clerical procedure of personnel payroll and little of these operations are
felt by the customers.
Information and communication technology
are valid to banking operation while non application of the technology in the banking
brings about inefficiency.
Hence, this research works is aimed at
addressing the impact of information and communication technology on the
operational efficiency of the Nigeria banking sector.
1.3 RESEARCH
QUESTION
Specially,
the study is necessitated by t5he long customers waiting time at the counter which
is as a result of the manual operation prevalent in the banking and how the
impact of ICT has helped in operational efficiency of Nigerian banking sector.
The following issues would therefore critically
examined
i.
To what extend has the introduction of ICT
has helped in achieving efficient services delivery?
ii.
To what extend do the banks go in acquiring
this knowledge?
iii.
What are the problems faced by management
in trying to implement the electronic banking system which is aided by ICT?
To
what extend this work more significant
The following questions are to be address
i.
What makes up information and communication?
ii.
To what extend has bank applied
information and communication technology on banking operation?
iii.
What are the obstacles faced by banks with
application of information
Which
are information technology based pritum, (2002)
1.4 OBJECTIVES
OF THE STUDY
ICT
has become anxious if bank do not have means of delivering their services can
line and real time across their branches within the country and abroad.
The
objectives are:
i.
To know whether information technology has
contributed to the profitability and efficiency of banks in Nigeria
ii.
To find out whether information technology
system has increase customers satisfactions.
iii.
To know ICT has helped banks to reduce high
cost of operation
iv.
To know how the application ICT to the
managing operations of the bank have been augmented
v.
To ascertain whether or not the level of
ICT used in Nigeria banking sector can make it complete favorably in the global
financial market
vi.
To identify and provide solution to the
problems being encountered by banks in their use of information and
communication technology.
vii.
To ascertain whether or not the level of
ICT used in Nigeria banking sector can make it complete favorably in the global
financial markets.
viii.
To identify and provide solution to the problems
being encountered by banks in their use of information and communication technology.
ix.
How information and communication technology
has helped banks to reduce high cost of operation.
x.
How the application of information and
communication to the managing operations at bank have been augmented
1.5 RESEARCH
HYPOTHESIS
In order to proffer solution to the
research problems identified and to achieve the goal of this study, the following
hypothesis shall be tested with the use of statistical tools;
HO: - is
the null hypothesis
HI:- is
the alternative hypothesis
i. HO:
Information and communication technology has not brought about efficiency to
the operations of the Nigerian banking industry.
HI:
ICT has brought efficiency to the operations of the Nigerian banking industry.
ii. HO:
implementation of ICT is risky, fraud-prone and it’s short comings over weight it’s
benefit.
HI:
Implementation of ICT is not risky and fraud-prone but does not out weight it’s
short comings.
1.6 SIGNIFICANCE OF THE STUDY
This
study attempts to fill the existing gap in the literature of information and
communication technology in the Nigerian banking sector. Another significance is
that, it serves as the basis of creating awareness on the application and
impact of information and communication technology.
1.7 SCOPE
OF THE STUDY
The Nigerian banking industry covers the
role of information and communication technology placed on the banking operations
of Nigeria, deposit money banks with special reference to union bank of Nigeria
Plc. The period of the study is between 2014-2015.
The basis day to day operation of
union bank of Nigeria plc forms the core of this study while the appraisals of
the effectiveness of it’s on the Nigerian economy are examined. The study considered
the various ICT products and services in relation to how they increase efficiency
in banking services.
1.8 DEFINITIONS
OF TERMS
1. Automated
Teller Machine (ATM) :- A machine usually in a wall outside the bank, form which
you take money out of your bank account, using a special card.
2. Computer:-
An electronic device that accept data as an input, process it and produce information
an output as a result of step-by-step of instructions.
3. Woherem
2007 Data:- These are raw facts sent into the computer for processing e.g teller,
it helps in decision making, or information in an electronic form that can be
stored and processed by a computer.
4. Information
Technology:- information technology is hardware, software and communication
required for information system development and operations.
5. Nigeria
Automated Cleaning System (NACS) :- A system for the electronic funds transfer between
banks at Nigeria.
6. Smart
Card:- A smart card with a electronics part that records and store information
7. Telegraph
:- This is a method of sending and receiving messages by electronics or radio
signals.
1.9 PLAN
OF THE STUDY
This
study in terms of coverage, it is divided into five chapters. Introduction review,
research methodology, data presentation and analysis, conclusion and recommendation.
Chapter
one involve introduction, which include background of the study, statement of
the problems research questions, objectives of the study, research hypothesis, significance
of the study, definition of terms and plan of the study.
Chapter
two comprises of a true examination of the subject matter via literature review.
This shed light on the work of different author and researchers in related fields,
review of journals and articles that are related and relevant to the work included.
Chapter
three, methodology explains the use of analysis which examine the data obtained
from the investigation of the study.
Chapter
four shows the data analysis and presentation, analysis of questionnaire, analysis
of personal data of respondents, analysis according to research questions, testing
of hypothesis.
Chapter
five, the main findings of the study are discussed in addition, recommendation
are also made.
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