EFFECTS OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) ON THE PERFORMANCE OF COMMERCIAL BANKS
This study is on the Effects of Information and Communication Technology (ICT) on the Performance of Commercial Banks in Enugu, Nigeria. The study seeks to ascertain the relationship between ICT and organisational performance; identify the effects of ICT on employees’ performance; identify the challenges encountered in the application of ICT and to determine the impact of ICT on Nigerian commercial banks. A sample size of 297 was determined from the population of 1,150 drawn from the senior and junior staff of the selected commercial banks using Taro Yamane’s sample size determination method. The sources of data for the study were primary and secondary. The instruments used for primary data collection were questionnaire and interview. The secondary data were sourced from journals, textbooks and internet. The questionnaire was structured in five-point Likert scale format in line with the objectives of the study. The instrument was checked for reliability, using test-re-test method. The result gave reliability co-efficient of 0.97 % showing high degree of item consistency. The total number of questionnaire distributed for this study was two hundred and ninety-seven (297) copies, while two hundred and sixty (260) copies were completed and returned. The research design adopted was survey design. The data generated from the field survey were presented and analysed using frequency distribution table. The hypotheses were tested using Z-test and Friedman Chi-square (X2). The findings indicate that there is significant relationship between ICT and organisational performance; Error rate reduction and speed in operations are the effects of ICT on employees’ performance;, Poor infrastructure and inadequate government support on ICT are some of the challenges encountered in the application of ICT in the banking sector; and Quality, effective service delivery, reduction of cost of operation and increase of output are some of the positive impact of ICT in Nigerian commercial banks. The study recommends that investment in Information and Communication Technology should be a priority to commercial banks because of its numerous benefits; Banks should fully utilise ICT so as to increase profit by cutting down the cost of operation.