Effect Of Globalization On Banking Operation In Nigeria

5.0 Summary, Conclusion and Recommendation

5.1 Summary

The aim of this research was to find out whether or not globalization has an impact on banking operation in Nigeria.

This was done with particular reference to First bank Nigeria plc Kakuri branch, Kaduna south, one hundred and fifty questionnaire were administered in the chosen sample population, out of which fifty questionnaires were distributed to the customers of the first bank, out of this number 120 were for both staff (40) and customers (80). The questionnaires were also divided into there sections. Section A questions were personal data, while section B were for the customer of the bank and section C were to the staff of the bank.

The method of data analysis used in this research study involved the use of simple percentage ratio and chi-square (X2) statistics.

The chi-square (X2) statistics is used to test the research hypothesis after being presented in the tabular form.

The finding from the study revealed that globalization has impact positively on banking operation in Nigeria, on both the side of customer and the staff of the bank. This is shown in table 4.1.4; the introduction of technology has improved the quality of services delivery by the bank, ways of withdrawing cash from the bank.

The study of further revealed that Globalization in Banking Operation has restored confidence in the minds of their customers.

The study also show introduction of technology has enhanced the activities of the banks in term of on-line, inter-switch, western union money transfer. The result of the hypothesis shows the positive impact of globalization of banking operation in Nigeria for the sector to maximize the divided of these technologies, adequate and efficient infrastructure must be put in place. Bank should embark on public awareness driven to enlighten the public on the potentials benefits of globalization.

5.2 Conclusion

Going by the findings of this study, it can be safely concluded that even though respondents consider the introduction of ATM Card as he easiest way of withdrawing cash; it is not total free from technical problem and sometime no enough money in the machine.

The study however, revealed that the introduction of technology has improve the quality of services delivery to customers still yet the problem of time spent when collecting money from the bank has not being totally solved.

Indeed Globalization of Banking Operation have positive impact in the general activities of banks in the country, that the banking industry and the government have to create public awareness in the use of machine, and more effort should be put in by the bank to train their staff in terms of security to stop the problem of fraud by some customers and staff of banks.

5.3 Recommendation

The result of this study reveals that Globalization of Banking Operation has contributed sufficiently to bank performance in Nigeria. However, the following recommendations are made in aid of the success of global banking.

• The Nigerian customers will expect to have benefits of electronic revolution in its banking transactions. He will expect his bank statement to be more frequent and up to date if not on-line. In one or two state, in banks in the country today, you can now access your bank account from your office and print your statement yourself with his aid of a model technology.
• As we tap into the electronic banking evaluation, we expect in the years ahead to have banks develop credible credit card systems, installed unmanned cash point in streets to enable depositors have access to their funds at any time of the day and week.
• Banks must strive to apply information technology in their banking operation as this help management effectiveness.
• Government can help to make computer systems affordable through the reduction of import duties and other taxes on information technology related equipments.
• Deliberate effort should be made by banks to standardize their information technology, driven products for enhanced benefits to both the banks and their customers. There is no reason why such product, as ATMS should not be shared by banks the way consortium of bank share smart card technology.
• The central bank of Nigeria should as a matter of utmost priority be at the leading edge of information technology so as to be better positioned to encourage banks on information technology accelerating the development of the development of the information technology supporting infrastructure, electronic. This will reduce the lost of adopting technology by banks and other business concern.

Nigeria banks must adopt and pursue a global strategy in order to remain in business.

Human capital development especially in the area of information technology should be accorded priority attention by banks.