EFFECTS OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) ON THE PERFORMANCE OF COMMERCIAL BANKS IN ENUGU, NIGERIA

ABSTRACT
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.

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