CHAPTER ONE

1.0 INTRODUCTION

The impact of information technology on marketing activities of financial institution in

Eket Local Government Area (A Case Study of First Bank Plc, Eket Branch).

Information Technology (IT) refers to the use of computers, networking, storage and

physical devices, software, process, store, secure and exchange all forms of electronic data.

It encompasses a board range of activities and technology used to manage and process

information including; hardware which is physical device like computers and networking

equipment. Software such programs and application that run on hardware. Networking

connecting devices to share resources and information.

Information Technology (IT) plays a crucial role in the modern banking system.

Information technology automate routine tasks such as transaction process processing,

record keeping and reporting, significantly reducing the time and effort required for those

activities. Information technology enables customers to access banking services through

online and mobile platforms, providing convenience and enhancing customers’ satisfaction

information technology provides robust security measure such as encryption, firewalls and

multi-factor authentication to protect customer data and transaction. Information

technology facilitates the development of innovative banking produce and services such as

digital wallets, peer to peer lending platforms and block chain-based solution. IT enables

banks to quickly adapt to market changes and customers’ demands maintaining a

competitive edge. Information technology systems analyze large volume of data to access

credit risk, helping banks make informed lending decision. Bank can use IT to conduct

1
 targeted marketing campaigns based on customer data and behavior analysis. Information

technology enables banks to operate on a global scale offering services across different

countries and time zones seamlessly. IT support secure and efficient inter-bank transaction

and communications facilitating international trade and finance.

1.1 HISTORY OF FIRST BANK

Establishment and Expansion.

First Bank of Nigeria, often regarded as the country premier financial institution, has a

storied history dating back to its founding in 1894 as the Bank of British West Africa

(BBWA). First Bank has grown to become one of the most prominent and influential bank

in Nigeria, First Bank Eket Branch came to Eket Local Government Area in October 2001,

then First Bank was first located at Hospital Road, after some years they move to Ekpene

Ukpa Street, Eket which was their second location. After some years again, they moved to

Grace Bill where they are operating now. First Bank Eket branch has marketing

department, operating department and Insurance department. They also have contract staffs

and personnel. First Bank in Eket Local Government Area has played an important role in

the financial landscape of the region. The Bank presence has facilitated various economic

activities, providing essential financial services such as savings and checking accounts,

loans and investment opportunities. First Bank Branch in Eket has not only provided to the

bank needs but also supported the corporate and commercial sectors. First Bank Eket

branch has continuously adapted to meet the evolving needs of its customers in Eket. As

First Bank continues to innovate and expand its services it remains a cornerstone of

financial stability and development in the region.

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1.2 STATEMENT OF THE PROBLEM

Bank by their nature are established to render services to their customers maximize profits,

satisfy their shareholder and contribute to the growth of the economy.

This research work argues that the often poor performance of banks in Nigeria in term s of

operational management, analysis of past performance profitability growth and expansion

is significantly due to the lack of technology in solving most of their problems. This issue

has raised the concern of the researcher.

1.3 THE OBJECTIVE OF THE STDUY

This study has the following objectives:

1. To examine the impact of information technology on marketing of banking

services and profitability.

2. To evaluate the barriers to the adoption of information technology in the

banking industry.

3. To ascertain the benefits associated with the application of information

technology in performance banking operations.

4. To proffer suitable recommendation on how to improve the performance of the

First Bank of Nigeria Plc using computerized information technology.

1.4 THE SCOPE AND LIMITATION OF THE STUDY

This study is limited to First Bank Plc, Eket. IT has several limitations that must be

acknowledged to provide a comprehensive understanding of its findings and their

applicability.

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 1. Poor Record: The study faced significant challenges due to poor record-keeping

practices. Inaccurate or incomplete records impacted the reliability of historical

data, making it difficult to draw definite conclusion or identify trends overtime.

2. Culture: Cultural differences posed a substantial limitation. The cultural context in

which data were collected influenced participants responses and the interpretation

of result.

3. Poor Data: The quality of data was another critical issue some data sources were

found to be low quality due to inconsistent data collection method, lack of

standardization and errors in data entry.

4. Distance: Geographical distance between the study site and the research team

created logistical challenges. This distance affected the consistency of data

collection, communication and the ability to closely monitor and sure the adherence

to study protocols.

1.5 THE RESEARCH QUESTIONS

The research work shall be guided by the following research question.

(a) What is the impact of information technology on the profitability of banking

industry?

(b) What are the barriers to the adoption of information technology in banking

industry?

4
 (c) What are the benefits associated with the application of information technology in

performing banking operations?

1.6 THE RESEARCH HYPOTHESIS

HO There is no significant relationship between information technology and

First Bank Plc, Eket Branch.

HA There is significant relationship between information technology and First

Bank Plc, Eket Branch.

HO There are no barriers in the application of information technology in First

Bank Plc, Eket Branch.

HA There are barriers in the application of information technology in First Bank

Plc, Eket Branch.

HO There are no benefits associated with the application of information

technology in performing banking operations.

HA There are no benefits associated with the application of information

technology in performing banking operations.

1.7 THE PURPOSE OF THE STUDY

This research work will provide critical information to banks wishing to computerize their

information.

The study will benefit bank managers, undergraduates and research under going further

studies in related areas. It entire economy, enhance effective delivery to banking services to

customers.

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1.8 THE DEFINITION OF THE TERM USED

Bank: It is a financial institution which deals with deposit and advance and other related

services. It receives money from those who want to save in the form of deposit and tends to

those who need it.

Computer: This is an electronic device which accept data form as input perform

arithmetical and logical operation in accordance with a predefined programmed and finally

transfer the process data as output.

Information: This refers to the fact told or knowledge gained or given.

Technology: This is the body of knowledge and practice which leads to the development

of new system and devices that supports human activities.

Marketing: Is the process by which the demand structure for goods and services

anticipation is enlarged and satisfied through conception, promotion, and physical

distribution of such goods and services.

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 CHAPTER TWO

Review of Related Literatures

2.0. Introduction

This chapter deals with the review of literature. The main focus is to look at what other

researchers, scholars and analysis wrote about the subject matter under investigation. The

discussion will be based on the following subheadings.

a. Concept of information technology

b. Overview of information technology in banking

c. Information technology banking and the common banking product

d. Telephone and personal computer (PC) banking product

e. The card system

f. The automated teller machine

g. The entry in Nigeria bank into information technology banking

h. Threats of cyber-crime on the Nigeria banking premises

i. The regulatory challenges

2.1. Concept if Information Technology

Information technology is a manifestation of public and private investment in banking

industry that is enables broad and significant changes in the society. Many observation

compare rapid-development and expansion of information technology to the industry

revolution in terms of potential scope and impact of the society. Few other modern

7
 advances in technology have the capacity to affect so fundamentally the way people work,

live, learn and govern them. The relationship between information technology (IT) and

banking industry as two aspects. In addition to being a product of bank, effective

information technology enabling change in banking services, information technology has

become an important part of the Nigeria economy. For example, banking industry makes

extensive use of computer modeling and simulation and large scale of database advances in

networking facilitate global. Information technology reflects the combination of three

technology digital computing data storage and ability to transmit digital through

telecommunication network. Rapid change in semi-conductors technology, information

storage and network, in combination with advances in software has enables new

application, cost reduction and widespread diffusion of information technology. The

expanding array of application makes information technology more useful and further fuels

the expansion of information technology. Information technology allows us as individual

and society to be production in a new digital environment, where E-mails can be sent to

colleagues around the world in the speed of light. The innovation of information

technology also means that it has never been easier to use cloud based systems that allows

us to upload our work to the internet accessing it with ease and efficiently from anywhere

that has connectivity. Finally, the concept of information is to remain safe and free to span

that can show progress and affect a person`s access to their account. And information

technology stands firmly on hardware and software of a computer and telecommunication

infrastructure. Davenport (1993).

2.2 OVERVIEW ON INFORMATION TECHNOLOGY IN BANKING

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The use of information technology in banking operation is called electronic banking (Ovia,

2001). The vast majority of recent literature in election money and bank suffers from a

narrow focus. It generally ignores, electronic banking entirely compare electronic money

with the substitution currency through electronic gadgets such as smart cards and currency,

virtual currency, for example, freedom, (2002) consist of three devices, stored devices,

stored value cards and networking money, electronic banking is simple , the use of new

access devices and is therefore ignored. Electronic money is then the sum of stored value

(smart) cards and network money (value stored on computer hard drive). What is most

fascinating and revealing about this apparently popular view is that electronic banking and

electronic money are no longer function of processed, but devices within this rather narrow

scope of information technology banking and electronic money, there are nonetheless many

research that address one or more of the challenges facing it. Prime 2, (1999) and Shy and

Tarka, (2000), present models that identify condition under which alternative electronic

payment substitutes depends on the characteristics of the various technology as well as the

characteristics of the potential users.

Barenstein (1998), consider the impact that the substitution of smart cards for currency will

have on monetary policy arguing that although electronic substitutes for currency will

become widespread, monetary policy will continue to work as before because this currency

substitution will have the demand for central bank reserve largely intact.

Goodhart (2000), explains how monetary control would work in economy in which central

bank currency has partially or completely replaced by information technology substitution.

9
Cohen (2001), distinguishes between monetary autonomy where monetary is the ability of

the central bank to control monetary aggregates demands and supply of money, while

monetary autonomy is the ability of the central bank to influence output and prices. Cohen

argues that the introduction of the electronic currency substitution will not reduce the

monetary autonomy on the other hand.

Hobrin (1970), argues that electronic currency substitution is part of a general process of

technological and advance and globalization that are rendering nation authorities of all kind

of importance and obsolete.

Lee and Long-Akindemowo (1999), present the standard justification for regulation of

financial market systemic risk and consumer protection, the argued that will justify

regulation of electronic currency substitutes.

They note that European regulation has already defined stored value cards are the taking of

the deposit, so that only bank may issue them. Several other authors, particularly central

bankers such as freedom (2000) have argued that the state can always us its power to

regulate electronic money provider if they prove to be detrimental to monetary policy of

financial stability freedom (1999) pointed out that electronic banking present the possibility

that an entire alternative payment system not under the control of central bank of Nigeria

may arise. In an extreme variant of friedman, king (1999), they argued that today

computers make it at least possible to bypass the payment altogether. Instead using direct

bilateral daring and settlement, the responses to friedman. Woodford (2000), argued that

central bank will either continue to provide the payment system of choice, or will find the

10
 alternative way to conduct monetary policy through stabilization of short term interest rates

regardless of what form of money is being used.

2.2.1 TELEPHONE AND PERSONAL COMPUTER (PC) BANKING PRODUCT

This is a facility that enables customers via telephone calls, to find out about their position

with their bank by merely dialing the telephone numbers given to them by bank. In

addition, the computer on the phone would require special codes given to the customers as

means of identification of authentic user before they can receive any information they

requested for. This is a service introduced into the banking balance as a result of computer

telephone technology, banking has universe of application limited by imagination. These

areas include ; Account balance enquiry, Account statement printing, intra-bank account to

account transfer, inter-bank account to account transfer, etc. Telephone and PC banking

bring the banking to the doorstep of the customer, it does not require the customer to leave

his premises, interactive voice response becomes a regular feature of the operations, text-

to-text speech capacity becomes reality, a uniformed messaging capacity becomes

permanent feature of the bank.

2.2. THE CARD SYSTEM

The card system is a unique electronic payment type. The smart cards are plastic devices

with embedded integrated circuit being used for settlement of financial obligations. The

power of cards lies in their sophisticated and capacity to store and manipulate data and

11
 handles multiple application of one card securely (Amedu 2005). Sophistication, it can be

used as a credit card, debit card and ATM (Automatic Teller Machine).While the electronic

card is gaining popularity in USA and Nigeria , the smart card was introduced into

Nigerian market to reduce or eliminate problems of carrying cash about (Amedu 2005). It

is electronically loaded with cash value and carried about like credit card and stores

information on a microchip. The microchip contains security programs; these protect

transaction between one card user and the other. It can also be transferred directly to a

retailer merchant or other outlet to pay for goods and services, and like cash, transaction

between individual without the need for bank or the third parties. Also, the system does not

require central daring, it is valued immediately, and also the system allows transfer of one

value to the other hence it operates like cash.

2.2.3. THE AUTOMATIC TELLER MACHINE (ATM)

Worldwide, the use of paper cash still remains the most widely used and acceptable means

of setting financial transaction and obligations.

However, the portion of cash transaction is increasingly on the decline, especially in

advanced economic country (Amedu 2005) in USA, where the use of cash is still prominent

, compared with the European countries, it represent 50 percent(%) or more of the total

transaction, of course cash is the non-electronic payment method. However, the physical

carriage of cash is well as the visit to bank branches is being reduced by the introduction of

an information technology device, ATM. An ATM device allows a bank customer to

withdraw cash from his account via cash dispenser (machine) and the account is debited

12
 immediately. A fundamental advantages is that it need not to be located within the bank

premises but usually in stores, shopping malls, fuel station, etc.

2.3 INFORMATION TECHNOLOGY BANKING AND THE COMMON BANKING

PRODUCTS

The use of information technology in banking operation is called electronic banking Ovia

(2001), argues that electronic banking is a product of the commerce in the field of banking

and financial services, in what can be described as business to customers (BTC) domain for

balances enquiry for cheque books, recording stop payment, institution balance, transfer

instruction, account opening and other form of traditional banking service. Banking is also

offering payment services on behalf of their customers who shop in different E-shops.

2.3.1. THE ENTRY OF NIGERIAN BANK INTO TECHNOLGY BANKING

Information technology banking both has a medium of banking and strategic tool for

business development, has gained wide acceptance internationally and is fast catching up

Nigeria with more and more bank entering the fray. Nigeria can be card to the threshold of

a major banking revolution with net banking having already been unveiled (Ovia 2001) of

all the sectors in Nigeria is not too good for economy.

Information regarding customers account from anywhere in the world by using a home

computer with internet connection, is particularly fascinating to non-resident Nigerians and

high network individuals having multiple bank accounts. The growth potential is therefore

ensure further incentives provided by bank would dissuade customers from visiting

physical branches and thus get hooted to the convenience of armchair banking. At present,

the situation does not seem to have shown any significant improvement, whereas about 90
13
 percent of the banks in the country offer other form of information technology banking

services like telephone banking. ATM and electronic fund transfer internet banking is yet

to take center stage (Ovia 2001). This is so despite the widely acclaimed benefits of

internet banking against the traditional branch banking, parts of the reasons identified for

the inability of banks in Nigeria to take full advantages of this mode of banking. These

include lack of adequate operational infrastructure like telecommunication and power, upon

which electronic banking generally relies. Due to the inability of the banks to integrate their

operations into the internet development process, internet banking can be said to have less

in the existing banking structures in the country.

Earlier articulate reasons why internet banking was having a moderate economic impact in

the country include that Nigeria bank customers are not on the average trained for teller

jobs and working of internet banking, a situation which makes transaction processing via

internet banking prove error; the absence of a clearly defined legal framework for internet

banking, leaving banks with inadequate legal cover to provide the service; and poor

telecommunication infrastructure all over the country. In addition, the fact that internet

usage in the country has been abused by cyber criminals makes its window unattractive for

domestic banking operation and legitimate international operations.

The internet fear associated with patronizing internet banking services in Nigeria is again

re-enforced by the growth evidences that the world over, dubious Nigerians uses websites

to scoop funds from unsuspecting victims. In some cases, these crimes are committed using

existing bank sites.

2.4 THREAT OF CYBER-CRIME ON THE NIGERIAN BANK PREMISES

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The advanced fee fraud or via which is one of the most popular of all internet frauds, it has

it origin from Nigeria in the 1980s, its development and spread follows the path of the

development in information technology in inception, postal letters were used as key media

for community 419 frauds. Later in the early 1990s, it became integrated into

telecommunications facilities such as telephone and fax the later 1990s following the

introduction of computers and internet, 419 crimes became prevalently perpetrated through

the use of E-mail and other internet means (Amedu 2005). The latest dimension taken by

the perpetrators of this crime is the use of take internet bank site and using that to

encourage victims to open account with them.

This country is the third highest ranked in internet money frauds. As reported in one of the

national newspapers, frauds and forgeries in Nigerian banks as at June 2005 stood at 329

on N1.45 billion monetary equivalent in April same year. There is even global suspicion

that a Nigeria crime syndicate that coordinates global crimes such as laundering banking

fraud and 419 seems to exist today. This issue basically defeats the key ingredient of

information integrity and availability. Several factors are responsible for the above

situation. They include inordinate tolerance for corruption among Nigeria public and

government agencies, weakness of the existing legislative, judiciary institution to make and

enforce relevant laws on cyber-crimes; quality to graduate in terms of professional values

and ethics, chronic unemployment among graduates, and the widening gap between the few

rich and the poor causes mainly by bad government. In the mina, erosion of good value

principles and corruption constitutes the greatest cause of risking cyber-crimes among

Nigerians. (Amedu 2005. This according to transparency, international is worsened by the

fact that several generations of Nigerians have been raised in this norm, hence, what is such

15
 as a dangerous global crime is socially acclaimed and glamorized in Nigeria. The above

situation constitutes the environment upon information technology banking has emerged in

Nigeria.

Although, the level of the adoption and practice of information technology banking

(especially internet banking) has remained quite insignificant. Global projection still

remain that information technology would continue to play revolutionary role in the

development and delivery of banking products and services all over the world in effect, it is

this projection that has raised pertinent regulatory questions concerning information

technology banking especially internet fraud-infested country like Nigeria one key issue

here boarders how to handle the rising level fraud and forgery prevalent in the entire

banking system; and how to make internet banking fit well in the banking structure of a

country so notoriously identifiable with criminals uses of internet access.

2.4.1 THE REGULATORY CHALLENGES

At the national level, the Nigerian government and the relevant regulatory agencies have

strived to match the rapidly changing of information technology banking environment with

necessary regulation and frameworks (Soludo 2005). Earlier effort made to this effect

included the enactment of the failed banks (recovery of debts) and malpractices in bank

decree No 18 of 1994, and the money laundering of 1995. However, as noted above, poor

enforcement procedure rendered these instruments very inactive in checking menace of

financial crimes. By the 1990s usage in the country, almost all the regulations guiding the

banking industry, including the bank and other institution Act of 1991, were lacking

adequate provision to accommodate merging trend. Not even a mention of information

16
technology banking or any member of its application was mentioned in any of those

prevailing regulatory documents. The situation created a lot of gaps between the levels of

central bank (CBN) regulatory tool and the advanced in information technology. This at the

same time made the banks vulnerable to all kind of risk including transaction strategic,

reputation and foreign exchange risk (Soludo 2005). This deficiency notwithstanding, it is

not until 2005 when the maiden guidelines on information technology banking came in

force. The information technology banking guideline emerged from the finding of a

technical committee central bank of Nigeria in 2003 to find appropriate modalities for the

operation of the information technology banking in the country. It was indeed the adoption

of a set of guidelines of information technology banking in August 2003, of the key

provisions of the guidelines, only a section deals with issues relating to internet banking

section 1.3 paragraphs 4 of the guidelines, exceptionally stresses that bank should put in

place procedure for maintaining the banks websites in duding the various security features

needed of internet banking services (CBN2003). Despite it numerous technical

specification, the guidelines have been widely critized as not been enough to check the

growing popularity of information technology banking against the backdrop of

sophistication in technology related crimes and fraud, closer examination or the contents of

the guidelines equally shows that the documents fail to meet up with the four key areas

where information technology banking may have regulatory impact-changing the

traditional line upon which concern about existing risers; and industry discretion. Again

some important that gave rise to the adoption or the guidelines was completely omitted.

This especially so with paragraph 6.1 of the committees report, which among other

recommended that all banks, intending to offer transactional services on the internet/other

17
E-banking products should obtain an approval in principle CBN prior to commencing those

services. Part of the criticism is straining the practice and development of information

banking in Nigeria of such areas, for instance, the requirement on information technology

banking product development. While acknowledgement that the existing regulation would

apply wholly on information technology banking, section 4.2 of the guidelines emphasized

that only bank which are licensed, supervised and physically present in Nigeria are

permitted to offer information technology banking service in Nigeria, and that virtual banks

are not to be allowed. The guideline also give indication that the product/services can only

be offered to residents of Nigeria; any person residing physically in Nigeria is a citizen,

under a resident permit of other legal residency designated under the Nigeria immigration

Act, any who neither is temporarily in Nigeria. That guideline goes further to indicate that

the E-banking service should be offered in naira only; and that where such a service is to be

provided in a foreign currency. It should be to the holder or ordinary domiciliary accounts,

and conform to all foreign exchange regulation. On the other aspect, the guidelines have

been criticized by FIRST BANK executive and customers for not addressing adequately

the critical issues concerning internet security. It failed to explicitly recommend a standard

that allows bank to examine potential threats that may already by inexistence in each

individual financial institutions current networking, in addition to this array of criticisms,

the work ability of proper internet framework is also guided amidst the poor state of basic

information technology infrastructure in the country. This is essentially necessary since

information technology banking generally relies on the like of the telecommunication and

power to function effectively. Though little success have been recorded, the supply to these

requisite facilities is very erratic in the Nigeria cases where they exist high cost of

18
 acquisition and maintain tend to deny a greater percent of the population access to them.

The case of internet access is a glaring one where the majority of the citizen relies solely on

the service of commercial cybercasters to meet their internet needs. It is expected of the E-

banking guidelines to provide procedures not only for bank investment in internet facilities,

but also in the document. Poor to the merger, First Bank of Nigeria Plc. maintain a unique

brand discernable area of coverage, an easily identified degree of strength and

competencies in various areas of banking services and fair share of the market.

CHAPTER THREE

RESEARCH DESIGN AND PROCEDURE

3.0 INTRODUCTION

This chapter describes the technique and procedure used by the researchers, the data for

conducting the study and accumulating the data for the study. It comprises of description of

the research design, population of the study, sample size determination and sampling

techniques, instrumentation techniques for the data analysis and problems of data

collection.

3.1 Research Design

This research work adopts survey design method as well as descriptive method.

3.2 Area of Study

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 The research work was limited to first bank PLC, Eket Branch located at Grace Bill Road,

Eket. The study being limited to the case study is determined to ascertain the impact of

information technology on marketing activities of financial institution in Eket local

government area.

3.3 Population of the Study

This population of the study comprised 24 respondent of First Bank Plc. Eket.

3.4 Sampling Techniques

Since the population of the study is very small being 24 respondent, sample size

Determination is not carryout rather straight sampling technique is applied on

The 24 respondent to represent the entire population with bias

n=N
1+N (e2)

Where N = Population size

n = sample size

I = consulate value

e = error limit 0.05%

n = 25
1+25(0.025)2

n= 25
1+25(0.0025)

n= 25
1+0.0625

25 = 25
1+0 1.0625

20
 n = 23.53

n = 24

3.5 THE SAMPLE SIZE

The sample size of this research is 24

3.6 THE SOURCES OF DATA

Data used for the study were obtained from main source primary and secondary sources of

data collection were those firsthand information obtained from questionnaire

administration, personal observation and oral interview. Secondary data were obtained

from existing materials such as text books, journal articles, CBN report First Bank Plc. and

CBN annual report, etc.

3.7 METHOD OF DATA ANALYSIS

The method of research analysis for this project is simple percentage distribution table, the

data were presented in raw scores and their percentage computed. The method is

considered due to its simplicity and easy understanding.

In determining the percentage, the following formula was use

Percentage = ϰ x 100

n 1

where x = individual response

n = total number of response

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3.8 TEST TECHNIQUE

The test technique adopted for this research is chi square, the tool is mathematically

expressed as: x2 = ∑(Oi -Ei)2

e

where X2 = chi- square

O = observed frequency

E = expected frequency

∑ = summation

= level of significance is 0.05%

3.9 THE DECISION RULE

The Chi-square (x2) calculated is compared with the Chi-square (x 2) table value. If the Chi-square

(x2) calculated is greater than the critical value of the Chi-square (table value of x 2 ) at appropriate

degree of freedom, the null hypothesis (Ho) is rejected otherwise the null hypothesis (Ho) at any

time signals acceptance of the alternative hypothesis (HA).

22
 CHAPTER FOUR

4.0 INTRODUCTION

This chapter deals with the data presentation and analysis, test of hypothesis and finally

discussion of findings.

4.1 DISTRIBUTION OF RESPONDENT BASED ON SIGNIFICANCE

RELATIONSHIP.

OPTION NO. OF RESPONDENT PERCENTAGE %

AGREED (A) 18 75
DISAGREED (DA) 4 17
NOT SURE (NS) 2 8
TOTAL 24 100

Sources: Filed Survey Data 2024.

From the above statistical percentage distribution table, 18 respondents representing 75%

agreed that there is significant relationship between Information Technology and First

23
Bank Plc, Eket Branch whereas 4 respondent representing 17% disagreed and 2 respondent

representing 8% were not sure.

Table 4.2: Distribution of respondents based on barrier in the application of information

technology in First Bank PLc, Eket Branch.

OPTION NO. OF RESPONDENT PERCENTAGE %

AGREED (A) 16 67
DISAGREED (DA) 6 25
NOT SURE (NS) 2 8
TOTAL 24 100

Sources: Filed Survey Data 2024

From the above percentage table 16 respondents representing 67% agreed that barrier in the

application of Information Technology in First Bank Pc, Eket Branch whereas 6

respondents representing 25% disagreed and 2 respondent representing 8% where not sure.

Table 4.3 Distribution of respondents based on benefits of information technology in

performing banking operations.

OPTION NO. OF RESPONDENT PERCENTAGE %

AGREED (A) 14 58
DISAGREED (DA) 6 25
NOT SURE (NS) 4 17
TOTAL 24 100

Sources: Filed Survey Data 2024.

From the above percentage distribution table 14 respondents representing 58% agreed that

there are benefits associated with the application of Information Technology in performing

banking operations whereas 6 respondents representing 17% where not sure.

24
4.2 TEST OF HYPOTHESIS

HO There is no significant relationship between Information Technology and

First Bank Plc, Eket Branch.

HA There is significant relationship between Information Technology and First

Bank Plc, Eket Branch.

Table 4.4: Extracted from Table 4.1 for Analysis.

OPTION 0 ∑ (0 – e) (0 - e)2 (0 - e)2

∑
AGREED (A) 18 8.0 10 100 12.5
DISAGREED (DA) 4 8.0 -4 -16 2
NOT SURE (NS) 2 8.0 -6 36 4.5
TOTAL 24 24 0 152 19

Sources: Analyzed Data from Field Survey 2024

The calculated value of X2 = 19

The Table Value of X2 @ 5% = 0.103

Degree of Freedom (DF) = (c-1) (r-1)

= (2-1) (3-1)

= df = 1x2

25
 = df = 2

Using 5% (0.05) level of significance = 0.103

Decision Rule

The hypothesis testing results suggest that the calculated value of X 2 (19) is greater than the

table value (0.103). Therefore, we reject the null hypothesis HO.

HO There are no barriers in the application of Information Technology in First

Bank Plc, Eket Branch.

HA There are barriers in the application of Information Technology in First

Bank Plc, Eket Branch.

Table 4.5: Extracted from Table 4.2 for Analysis.

OPTION 0 ∑ (0 – e) (0 - e)2 (0 - e)2

∑
AGREED (A) 16 8.0 8 64 8
DISAGREED (DA) 6 8.0 -2 4 0.5
NOT SURE (NS) 2 8.0 -6 36 4.5
TOTAL 24 24 0 104 13

Sources: Analyzed Data from Field Survey 2024

The calculated value of X2 = 13

The Table Value of X2 @ 5% = 0.103

Degree of Freedom (DF) = (c - 1) (r-1)

= (2-1) (3-1)

= df = 1x2

= df = 2

26
Using 5% (0.05) level of significance = 0.103

Decision Rule

The hypothesis testing results suggest that the calculated value of X 2 (13) is greater than the

table value (0.103). Therefore, we reject the null hypothesis HO.

HO There is no benefit associated with the application of Information

Technology in performing banking operations.

HA There are benefits associated with the application of Information

Technology in performing banking operations.

Table 4.6: Extracted from Table 4.3 for Analysis.

OPTION 0 ∑ (0 – e) (0 - e)2 (0 - e)2

∑
AGREED (A) 14 8.0 6 36 4.5
DISAGREED (DA) 6 8.0 -2 4 0.5
NOT SURE (NS) 4 8.0 -4 0 0
TOTAL 24 24 0 40 5

Sources: Analyzed Data from Field Survey 2024.

The calculated value of X2 = 5

The Table Value of X2 @ 5% = 0.103

Degree of Freedom (DF) = (c - 1) (r-1)

= (2-1) (3-1)

27
 = df = 1x2

= df = 2

Using 5% (0.05) level of significance = 0.103

Decision Rule

The hypothesis testing results suggest that the calculated value of X 2 (5) is greater than the

table value (0.103). Therefore, we reject the null hypothesis HO.

4.3 Discussion of Finding

After the three analysis have been subjected to three hypothesis test, the following findings

where revealed that;

1. There is significance relationship between Information Technology and First Bank

Plc, Eket Branch.

2. There are barriers associated with the application and introduction to Technology in

First Bank Plc, Eket Branch.

3. There are benefits associated with the application of Information Technology in

performing Banking Operations.

28
 CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

This chapter focuses on the summary, conclusion and provide recommendation base on the finding

of study and the references.

5.1 SUMMARY

This research project was conducted to investigate the impact of Information Technology

on marketing activities of financial institution in Eket Local Government Area.

29
A case study of First Bank Plc, Eket Branch. We did an introduction on the topic under

investigation, problems were stated, objective were presented, research question were

raised, hypotheses were stated in a null and alternative form, purpose, scope and limitation

of the study were presented and some concept were operationally clarified. The review of

related literature was done, the card system theory, and the regulatory challenges.

Then we presented the data collection and analysis, distribution of respondent was done,

and we have first, second and third distribution of respondents table.

The first table we have 18 respondents representing 75% agreed that there is significance

relationship between information technology and First Bank Plc, Eket Branch while 4

respondents representing 17% disagreed and 2 respondents representing 8% were not sure.

Second distribution of respondent table, 16 respondents representing 67% agreed that

barrier in the application of Information Technology in First Bank Plc. Eket Branch, while

6 respondents representing 25% disagreed and 2 respondents representing 8% were not

sure.

The third distribution of respondent table, 14 respondents representing 58% agreed that

there are benefit associated with the application of Information Technology in performing

banking operations, 6 respondents representing 25% disagreed and 4 respondents

representing 17% were not sure.

And also the test of hypothesis was carried out and the result revealed that since the

calculated value of x2 19 was greater than the table value of 0.103 then the null hypothesis

30
 (HO) was rejected and the alternative hypotheses (HA) was accepted. Then we summarized

the whole work which give us account of the entire study and the conclusion presented the

general impression of the study recommendation were made on the impact of Information

Technology on marketing activities of in financial institution.

5.2 CONCLUSION

This research project investigated the impact of Information Technology on marketing

activities of in financial institution in First Bank plc Eket branch, from the tested

hypotheses of the calculated Value of x2 19 was greater than the table value 0.103, the null

Hypotheses (H0) was rejected and conclusion were made that there is significance

relationship between Information Technology and First Bank Plc, Eket Branch. From the

second tested hypotheses of the calculation value of x 2 13 was greater than the table value

0.103, the null hypotheses (H0) was rejected and the alternative was accepted, and

conclusion were made that there are barrier in the application of information technology in

performing banking operations. From the third tested hypotheses of the calculation Value

of x2 5 was greater than the table value 0.103 the null hypotheses (H 0) was rejected and the

alternative (HA) was accepted and conclusion were made that there are benefit associated

with the application of Information Technology in banking operations.

The finding revealed that, there is significance relationship between motivation technology

and First Bank Plc, Eket Branch. There are barriers associated with the application and

introduction of technology in First Bank Plc, Eket Branch, and there are benefit associated

with the application of Information Technology in performing banking operations.

31
 Information Technology has been discovered as one of the major bedrocks of a nation’s

economic growth, information technology should be given a priority in all banking sector

of the Federation as well as the levels, as this can lead to the breaking of the various circles

of under-development of the baking services in the country.

Information Technology is more effective to banks because it enables the bank to meet

their cost and earn profit even in the short span of time thereby helping in quick

distribution of Information as well as easy recording of information.

5.3 RECOMMENDATION

The following recommendation were made based on the findings of the study in order to

give the growing trends of information and communication technology (ICT) which

involves net Bank and e-commerce in banks a vision in the right direction.

1. The bank must be focused in terms of their needs and using the right technology to

achieve goals rather than acquiring technology of internet banking because other banks

has it.

2. Government participation in ensuring focused telecommunication industry must be

visible to reduce or remove avoidable cost of implementing e-commerce and e-banking.

3. Regulatory authorities like CBN (Central Bank of Nigeria) must stipulate standards for

the banks to follow to avoid making Nigerian banking sector a dumping ground of the

out-dated technology infrastructures.

4. Training and man-power development is another major problem militating against the

growth of e-commerce in the country. Government must make right policy by ensuring

that computer communication equipment and other information technology (IT)

32
 infrastructures to a large extent are manufactured in the country so that our people can

acquire first hand necessary skills.

5. To contain the legal threat and security posed to net banking and e-commerce, the

necessary legal codes backing the industry must be established, this will enhance the

growth of the industries.

REFERENCES

Agboola, A. A. (2017). The impact of Information Technology on marketing activities in Nigerian

Banks. Journal of marketing and management 12 (1, 1-15.)

Kotter, P. & Keller, K. L. (2016). Marketing management (15 thed.) Pearson Education Limited.

33
Manyi M. M. & Eno, E. E. (2020). The impact of Information Technology on marketing

performance in Nigerian Banks. International Journal of Business and

Management, 15 (2,) 1 - 12.

Ogunsiji, A. (2019). The impact of Information on marketing effectiveness in Nigerian Banks.

Journal of Marketing research and case studies 2019, 1-13.

Okeke, E. N. (2018). The Role of Information Technology in enhancing customer’s satisfaction in

Nigerian Banks. International Journal of Business and Management, 13

(2), 1-10.

APPENDIX I

Department of Business Administration,

Heritage Polytechnic,
Eket.

August, 9th, 2024

34
The Managing Director,
First Bank Plc,
Eket.

Sir,

REQUEST FOR COMPLETION OF QUESTIONNAIRE

I am a final year student of the above mentioned Institution. I am currently in the department of
Business Administration and Management and I am undertaking a research work on the topic:
“The Impact of Information Technology on Marketing Activities of Financial Institutions in Eket
Local Government Area”.

This study is in fulfilment of the requirement for the Award of National Diploma (ND) in Business
Administration and Management.

Consequently, I would be grateful if you could kindly allow me complete the attached
questionnaire using your bank First Bank Plc, Eket Branch as a case study to this research work,
please note that your response or that of your personnel’s shall be treated as confidential and used
only for the purpose of this study.

Thank you.

Yours faithfully,

Mfreke Inyang Etuk

(RESEACHER)

APPENDIX II

INSTRUCTION: Please tick the most appropriate box(s) and write legibly where necessary.

Strongly Agreed (SA)

35
Agreed (A)

Disagreed (D)

Strong Disagreed (SD)

No Opinion (NO)

SECTION A: PERSONAL DATA

Gender: ( ) Male ( ) Female

Age: 15 - 19 ( ) 20 - 25 ( ) 31 - 35 ( ) 36 - 40 ( ) 41 - 45 ( )

46 and above ( )

Marital Status: Single ( ) Female ( )

Professional Qualification: FSLC ( ) WAEC/GCE ( ) OND/NCE ( ) HND/BSC

( ) M.S/MBA ( ) Phd ( )

Rank: _______________________________________________________

SECTION B: QUSTIONNAIRE

S/N QUESTIONNAIRE ITEM SA A D SD NO

1. What are the impact if Information Technology on
banking services?
2. What are the barriers to the adoption of
information Technology in the banking industry?
3. What are the benefits associated with the
application of Information Technology in
performing banking operations?

36