HISTORICAL BACKGROUND OF
A computer is an electronic machines which receives
data as input processes the data received using set of instruction and produces
information as output. This machines also stores the data and information and
can retrieve them in future. For centuries, record keeping has been an manual
basis and developed thought the age of machine assisted into the present day
to Rwade Cole (1982) the development of computer is inextricably tried up with
man’s basic urge to count quantity and measure.
earliest counting device, the “Abacus” was inverted by the Greeks. This
developed with the invention of a formal numbering system which is still used
today by over half of the world population especially in the far east. It is
believed to have been in existence since 3000 BC and was later developed by the
involved in the evolution of computer were the following men, the first was the
scientific Renate evolution of computer were the following men, the first was
the scientific renaissance of he seventeenth century which gave use to the
world’s first mechanical adding machines built by a young French man Blaise
Pascal (1642) . He invented these
machines that could add figures automatically to help him ease the computation
bad of his father, then a supervisor of taxes. This device is still in use
today on paper tape.
is a German mathematician, Gottfried Von Leibuitz (1643) who expanded on pascals work and produced a
better device that could multiply, divide and extract square roots. Leibnitz
was motivated by the urge to get relief from burden some computation.
French textile manufacturer named Joseph M. Jacquared (1801) inverted a textile
room operated from punch card instruction know as “ the automatic weaving
loom”. This device helped him in controlling the threads on his weaving loom.
this device was not a computer, but it is utilized the punched card principles
which later lead to the bedrock of the computer.
man, Charles babbage, born in 1792, a professor of mathematics at the Cambridge
university conceived the idea of what he called a “difference engine” in 1822.
he later abandoned this and produced another machines he called the “analytical
engine” in 1833. this machine was made up of two part, the store and the mill
and is said to be the first digital computer even known to man (that is, a
machine that performs calculation with numbers).
1987 and 1985, George Boole, an English logician devised and perfected an
algebraic system now called the – “Boolean algebra”. In 1884, Dr. herman
Hollerith, a statistician working with the IVS census blurean with James power
invented used the punched card principle and was popularly referred to as “American Hollerith
system”. The impact of hollerith’s invention was that the 1890 census of 63
million citizen took only three years to compile.
in 1939, a physicist, professor Haward Aihen of Harvard university in
conjunction with engineers from IBM introduced the mark 1, the modern machine
to use Babbage’s principle of sequential control. In the late 1930’s, Dr. J.V
atanasoff, a professor of mathematics and his assistance Clifford Barry,
completed electronic digital computer which they called “Atanasoff Berry –
computer” or simply “ABC”.
1946, Drs. J, Prepare Eckert and John Mandily development the “ENIAC”
(electronic numerical integrator and computer), the first electronic high speed
computer which was developed as a result of the world war 11. it was the first
large scale electronic digital computer even built.
Von Newman, attracted by the work of ENIAC, researched into the design of an
electronic computing instrument. Thus, any computer that automatically execute
a stored program of instruction selected from a fixed repertoire or vocabulary
is called von Newman machine.
in 1974, mandily and Eckert who built the ENIAC set up a company which later
became known as UNIVAC division of sperry rand cooperation (UNIAC – universal
first UNIVAX was delivered to in 1951 making this the first computer dedicated
to business application, as opposed to other which were dedicated to either
scientific engineering or military application. Thus, since 1947, electronic
computer began to proliferate both in number and size and the IBM introduced a
small commercially available electronic calculator called the “604”.
development into the computer are still in progress in the sense that it was
anticipated that the 5th generation computer which will posses “artificial
intelligence” would have been developed by the late 1990s and early 2000s.
HISTORICAL BACKGROUND OF
BANKING COMMERCIAL BANKING IN NIGERIA
Banking is a relatively old and well known business
in Nigeria and more especially the commercial banking. The evolution of this
bank in Nigeria date back to 1822 when the first commercial bank. The African
banking corporation opened its branch in Lagos. this bank, was subsequently
acquired by the British bank of West African in 1894. the British bank of West
African was followed by another expatriate bank in 1925 – the Barclays bank
as far back as 1912, the year of establishment of the West African currency
board, an expatriate bank, the bank of British West African (now first bank of
Nigeria) was already in existence.
first attempt toward the establishment of indigenous bank in the country came
in 1929 with the establishment of an indigenous bank in the country came in
1929 with the establishment of the industrials and commercial bank which
eventually folded up in 1930 due to uncapitalization, poor management and
aggressive compaction from the – expatriate bank.
indigenous bank – the Nigeria Mercantile bank was establish in 1931 but also
suffered the fate its predecessors. It was not until 1933 that the first
indigenous bank to survive from liquidation came into existence. The bank is
the national bank of Nigeria LTD. The establishment of this bank was followed
by the appearance of other indigenous bank:
The Agbonmagbe bank (now WEMA – bank) in 1945, the
Nigerian penny bank. The African continental bank and the Nigeria farmers and
commercial bank, all of which were formed in 1947. in 1949, another expatiate
bank, the British and French bank (now limited bank for limited) was
established in the country.
success recorded b the indigenous bank noticeably the national bank of Nigeria,
WEMA bank and African continental bank spurred the proliferation small
member of bank registered as banking companies between 1949 and 1952 was as
high as 185 out of which 145 were registered in 1947 and 40 in 1952. these new
entrants into the banking business were ill – formed about the involvement in
the business and this resulted in many bank failures. Thus the period up till
1952 was once during which the government pursued a non – internationst policy
in the business of commercial banking. This period was thus one of unregulated
banking, culminating in the early fifties in what observer has described as an
intolerable chiastic banking situation”.
a bid to protect depositors form suffering a further loss which they had
hitherto suffered from the banks failure, the colonial government appointed the
pant on commission to look into the existing state of banking in the country
and make recommendation the recommendation of this commission formed the basis
of the first banking legislation in the country, an ordinance for the
regulation of business of banking which was passed in May 1952. the banking ordinance of 1952 stipulated requirement for the entry
into the banking business. Such
requirement included the provision of a minimums paid up capital of #25,000 for
banks incorporated in Nigeria and #200.000 for banks outside Nigeria
enactment of the 1952 banking ordinance did
not prevent bank from indulging in certain malpractice the situation
therefore called for the establishment of a body that would supervised and
control the operation of these commercial bank. Thus in 1959 the central bank
of Nigeria was set up.
so, banking in Nigeria like in most other countries operate under a strictly
define legal frame work. Ever since the emergence of banking in the country in
1892, many laws have been made to regulate banking activities in the country.
The first legislation on banking in Nigeria was the banking ordnance in 192
which stipulated condition for entry into the commercial banking business. The
requirement then was a banking license and a minima paid up capital of #25,000
for bank incorporated inside.
the two important law guiding banking operation in Nigeria are the bank and
other financial institution decree that stipulate what the commercial bank can
do while the central banks decree of 1991 deals with measure of control which
the control bank can exercise on the commercial bank. The banking decree of 1991, regulates about
commercial banking business ranging from ownership structure, liability
structure, asset portfolio golden to general operation it stipulate the minimum
capitalization for commercial banks is #50m.
DEFINITION OF TERMS
Conceptual and operation definition
This is to store information with or in a computer
or system of computer or to use a computer to control an operation in its
operational meaning it is a process whereby computer are employed to carryout
certain operation which might as well be done by man such operation which are
the collection of data, the analysis of these data and conversion of such data
into information which could be used in banking and so many other relevant
This mean a result or outcome this could be as a
result pronounced on the mind or feeling or a result produced on the use of
something. Operationally, it means where something use, the result which it has
on the entire operation.
The business of keeping a bank or the business of a
bank or banker. Banking in its operational meaning, means the business of
accepting deposit from outside sources irrespective of the payment of inters
and also means the granting of money loans and the acceptance of credits or the
purchase and sell of securities for the accounts for acquiring claims in
respect of loans prior to their maturity or might mean the assumption of
guarantee and warrants for other or the effecting of and warrant for other or
the effecting of transfer and clearing and such transaction that might be
incidental to a bank or banker.