Effect of Information and Communication Technology (ICT) Investment on Deposit Mobilization of Commercial Banks in Nigerian

Abstract

This Study Was Conducted In Nigeria On The Effect Of Ict-Investment On Deposit Mobilization Of Commercial Banks. Geographically, Nigeria Is Situated In The West Coast Of Africa, Bordered To The North By Niger Republic, To The East By Chad And Cameroon, To The South By The Gulf Of Guinea, And To The West By Benin Republic. Nigeria Has An Area Of 923,768 Sq/Km And Is The World's Twenty-Ninth (29th) Largest Country In Terms Of Size. Secondary Data Was Used To Undertake This Study. The Necessary Data Was Extracted From The Annual Reports Of The 10 Selected Quoted Commercial Banks In Nigeria For The Period 2007-2016 Financial Years.  Corporate Annual Reports Were Used Since They Were Promptly Accessible, Available And Provided A Greater Platform For Results Comparability. The Study Population Consisted Of All Quoted Commercial Banks Listed On The Nigerian Stock Exchange (Nse). The Study Covered The 10 Selected Quoted Commercial Banks (Cbs) Listed On The Nigerian Stock Exchange As At December 31, 2017 Out Of The 21 Cbs Licensed By The Central Bank Of Nigeria (Cbn) And Operating In Nigeria Till Date. The Effect Of Ict Investments On Bank Performance Was Analysed Using Panel Regression. The Pooled Ols, Random Effects (Re) And Fixed Effects (Fe) Was Estimated. The Study Discovered That Ict-Investment Has Significant Effect On Deposit Growth Of Nigerian Commercial Banks. The Study Recommended That banks Should Put In Place Systems That Can Help Improve Customer Confidence In Using Ict Platforms.  Issues Of Internet Security And Exposure Of Customer Details Are Key Issues That Banks Should Address And Improve Upon As This Can Go A Long Way In Ensuring Users' Confidence And Hence More Loyalty In Terms Of Sustained Banking Relations.