Impact Of Information Technology On The Accounting System Of Banks In Nigeria (A Study Of First Bank Nigeria Plc)

ABSTRACT

 This research study on the impact of information technology on the accounting system of banks. A case study of First Bank Nigeria Plc was borne out of the researchers genuine interest on the current wave of information technology sweeping across the banks, more especially the banks this study, the problem of long queue, poor services, threat to loss of work, the incidence of fraud, high rate of error on customers bank balances dc, were highlighted. Generally, it was aimed at ascertaining in perspective the implications of this development to the banking sectors in order to obtain the data for the study, questionnaires were distributed to an accessible population of banks management staff and customers in First Bank Nigeria Plc, Owerri branch. Furthermore, the study concentrated on two hypotheses fonnulated which were tested using the t-test statistical tool. The simple percentage method was used to analyze some olthc responses from the questionnaires, and the outcomes were also recorded appropriately. Based on the empirically tested hypotheses, the following findings were made: The application of information on the accounting system of banks results in the achievement of high net profit. Information technology eliminates the high error rate in the customers' bank balances and statement of accounts. At the end, the following conclusions were made: That there is adequate application of information among the banks compared with early 90's. That poor telecommunication facilities/maintenance, low literacy level in computer knowledge and the lack of adequate training of members of staff on computer applications characterized the old gencrati on banks. In similar manner, some recommendations were based on the findings. This includes: Continuous computerization of banks operations leads to efficiency and operational satisfaction. Development and improvement of existing data networking capabilities is very essential for the banking industry.