The adoption of e-banking in Nigeria: Problems and prospects

Banking through electronic channels has gained increasing popularity in recent years. This system popularly known as e-banking provides alternatives for faster delivery of banking services to a wide range of customers. This study aims to collect customers opinions regarding this adoption of various e-banking technologies, it's importance and problems associated with e-banking in Nigeria. Structured questionnaires addressing the various research questions were used coupled with personal interviews. The result of the research finding is that there is a high adoption level of e-banking technologies in Nigeria with ATM well favoured. The internet banking is gradually gaining an increasing awareness but faced with the problem of high cost of internet connectivity and lack of telecommunication infrastructure. The study equally discovered that there are no enough security measures to protect Internet Banking. Owing to this, the researcher therefore recommended that e-banking transaction should have desirable properties like authenticity, confidentiality, unforgivable and integrity coupled with provision of adequate telecommunication infrastructure and increased culture of internet usage.