Customer's Perceptions of Electronic Banking in Nigeria

Abstract

This study examines customers’ perception of e-banking in Nigeria. Survey research design was employed in the study. Data were collected using structured Likert-scale questionnaire administered to 300 purposively selected banks’ customers in Lagos. Descriptive statistic was used in analyzing the data. The analysis revealed that customers patronize the various e-banking channels introduced by banks in Nigeria. Among the electronic delivery channels, ATMs ranked the topmost followed by telephone banking. The introduction of electronic banking has led to reduction in time spent on bank transactions; and also enhanced timely response to customers’ enquiry about their bank accounts’ status. However, the introduction of the e-banking channels is associated with increased bank charges on customers’ accounts. The major recommendation is for banks’ management to charge moderate fees on services rendered to their customers. This will enhance customers’ loyalty which is fundamental in ensuring profitability and corporate sustainability.