1.1 BACKGROUND OF STUDY
Alvin Tofler, one of the most successful of contemporary popularizes has proclaimed the arrival of an “adhocratic” society.
This expansive vision of nearly emerging
post industrial order, mirroring that of Daniel Bell is encapsulated in
Tofler’s view that we are living through a period of massive societal
First wave of agricultural revolution
and the second wave of industrial revolution development in the world
over is now being superseded by an third socio-economic ware, even
through the industrial revolution is still in progress in most part of
the third world countries. This new socio-economic shift termed third
ware is the arrival of computer revolution.
This means that humanity faces quantum leap forwards as we engage in building a remarkable new civilization from group up.
Definition of computer: the oxford
dictionary defined computer as an electronic device which stores
information on e.g magnetic tape, analysis it and produces information
as required from the data on tapes or deistic.
While the American Heritage dictionary
of the English language defined it as a service that computes especially
as electronic machine that performs high speed mathematical or logical
calculations or the assembles, store correlates or otherwise processes
and prints information derived from loaded data in accordance with a
This implies that although computer has
no brain of its own to reason live human beings, it performs complete
mathematical problems as fast as possible even faster than the human
The computer is an advanced technological convention which as evolved as a product of our modern day society.
The above statement not withstanding, he
public still approach the course with apprehension and in some cases
develop absolute fear for this device. The reason being that the
computer came upon the whole world so quickly that it now affect our
various lives in so many ways. This compile with the general lack of
knowledge of what the computer is, has given rise to the ware of
It is of nose that Nigerian industries
and businesses are growing bigger and more complex everyday. Manual
recording and filling system of financial transaction is no loner coping
with the rate of sophistication and competition in this modern
Management needs timely information for
planning and it is only through computerized accounting methods and
control system that can girl out the needed financial data immediately
at the close of the banking period.
Banks and other private and commercial
institutions are finding it increasingly difficult to carry out its
financial data specially and accurately enough to satisfy their numerous
time conscious customers. The volume of service being offered by banks
have increased during the years and at the same time the number of
people asking for this services has also increased during the last
It has been said that hires was replaced
by the motor vehicle not because the motor vehicle is that much
convenient but because the hoarse is more efficient from the economic
point of view.
Another is a manual operation which
involves the processing of information on (2000) two thousand salaried
people. The cost involved in this type of operation is numerous like
personnel cost; turnover cost, raining cost, benefits, leave allowance,
retirement costs, etc. then comes the computer which will not involve
much cost. The only cost might be training and personnel. While the work
would be done in a speedy time than in manual operation.
The computerization and its impact on
the banking in Nigeria cannot be over emphasized. Just as earlier noted,
the use of computer in banking and other financial institutions is
still a very recent development.
Note all the banks and business sectors
have actually computerized. Those that have gone computerized still
leach computers is some departments which those banks which have not
gone into computerization are still looking into the possibilities. But
as a nation grows, its economy develops while the necessary tool that
will help any economy to develop is the level of information obtainable.
The computer has an immense capacity fro
storing information and for marring the data available when needed.
Because of this information consciousness in the economy, it becomes
apparent that for any meaningful development planning, the availability
of information should be a necessary tool, banks therefore saw in this a
need to go into computerization.
Nevertheless, the advent of computer as
stated earlier has some problems but looking at it very closely, it
might not pose a problem to banks. These problems are training of
personnel and financial cost. Then are very necessary before any bank
could go into computerization. Training of personnel is very necessary
for effective running and operation of any computer. The human being is
the only thing that can operate a machine like computer, therefore
without an effective personnel, the computer cannot be very efficient,
just as stated once by a writer on computers.
My computer can read that is input
My computer can add that is output
It can even remember than man, that is memory
But my computer cannot love, that is
human all this are very necessary for the personnel raining for the
effective running of a computer. As a conclusion the computerize an
1.2 STATEMENT OF PROBLEMS
What is computerization as it relates to
banking industry in Nigeria? Manual operation is fast being replaced by
computer operation in the banking industry nowadays. What edge does the
computer electronic machine has over the manual ones?
In an economic view point, how has this
computerization in the banking industries help in alleviating the
sufferings of the citizen of in Nigeria? Since the advent of
computerization in the banking in Nigeria, it is appalling that the
level of unemployment is still soaring up. Why has the act of fraud in
the banking industry in Nigeria since the debit of computer more
pronounced? And also sophisticated any costly errors made?
How do we achieve a more positive and
efficient result with computer in the banking industry in Nigeria? These
are some of the important questions which this study wishes to handle.
1.3 RESEARCH QUESTION
- Of what benefit is the computer electronic machine over the manual machine as it relates to banking industry in Nigeria.
- To what extent has computerization in the banking industry in Nigeria affected the economic development?
- To what extent has fraudulent practices as a occasion by computerization of banking industry affected the industry?
- How can a computer be maximally utilized towards making a positive impact in banking industry, in Nigeria?
1.4 OBJECTIVE OF THE STUDY
1.4.1 The purpose of
this study is to actually highlight the impact computerization has put
forth on the banking industry since its involvement into the industry.
It would also identify the uses which the computer would be put into in
order to increase the operation efficiency and effectives of the banks.
1.4.2 However, the
study would pay special attention to the united bank for Africa plc
(UBA) in trying to state the effect of computer and its uses in banking
industry. The study is designed to give an overview of a computer
application to the numerous service being rendered in our banks, how it
affected output and efficiency, also how it has helped to improved the
bank accounting information and storage system.
1.4.3 The study
would look into the historical development of computer to enable us
appreciate the dynamic nature of computer development.
Also the historical background of united
bank for African plc (UBA) shall be examined the bank in computer
utilization from its inception till date.
1.4.4 The content of
the study would be directed towards actually banking activities and
transactions. It would be such as to help in laying a foundation for
anybody who does not have experience of the application of computers in
banking have experiences of the application of computers in banking have
a better understanding and conceptualization of its intricacies of
1.4.5 The study
would also provide an appraisal of the operational performance of the
computer system, the problems associated with the use of the machine and
provide possible solution to minister or eliminate the problems.
1.5 SIGNIFICANCE OF STUDY
This study will be benefited by the following group of individual, corporations and companies, they includes:
- Student in school of financial studies: These students will benefit
from this work in many ways, also helping them to know some certain
problem associates with the introduction of computer in organization.
- Banking industry: This project work will yield an immense benefit to
the banking industries in our economy. All thee banks that are
intending to be computerized and already comprised ones will all benefit
from that work.
- System analyst: The person who studies the existing system in an
organization and changes the old to eh new system. He will benefit from
this work in that, it will help to know some certain technicalities in
implementing a new system.
- Shareholders of banks: The owner of banking industries
(shareholders) will benefit from this work in that it will form a part
of encouragement to them to computerize their banks since computerized
banks yields more profit.
- Finance Horse: All the finance hoses, with benefit from the work
including government will benefit from this work, it will help all of
them in knowing the advantage and disadvantages of computerization and
decide in which one to do.
- Depositors or investors tenders (be) benefit customers, will all
benefit from the worn to customers, will certainly know hat computerized
banks will not waste much of his her time while manual operated banks.
1.6 SCOPE / DELIMITATION OF STUDY
The major aim of this study is to
highlight the impact of computerization on the banking industries and
the scope would be restricted mainly to the United bank for African plc
where almost all.