[A Critical Appraisal on the Factors Affecting the use of Internet Banking among the

Customers within the Nigeria Banking Sector: A Case Study of First Bank Nigeria PLC]

BY

OBASI MICHAEL EBERECHUKWU

TO

ABSTRACT
Purpose: The factors affecting the use of internet banking amongst the customers is a high stake process. There is an insufficient evidence base that would aid the banking institutions in Nigeria in terms of guaranteeing the security of its customers. As a result of this the research is aimed at critically appraising the factors affecting the use of internet banking amongst the customers of First bank Nigeria plc together with their ability to restore trust and provide assumption for re-conceptualising these processes. Design/ Methodology/ Approach: The research was analytical and part of a bigger project on the factors affecting the use of internet banking. It employed the use of 100 questionnaires which was distributed among the customers of First bank Nigeria plc Findings: One of the main findings of this research is based on the fact that trust is still a major barrier for internet banking. At the same time it also important to note that the majority of the people that makes use of the internet banking are mainly the young generation; and it can be said that prior knowledge of computer is not a major factor that affects internet banking Research Limitations/ Implications: The sample size and use of questionnaire as a single data gathering strategy does not allow broad generalization of findings. As a result of this, the evidence obtained enabled the generation of useful hypothesis to stimulate research in this area. Originality/ Value: The research reported here provides a good basis and framework for broader research to be carried out on the best ways of restoring the customers trust

TABLE OF CONTENTS

PAGES

ABSTRACT.....................................................................................................2

CHAPTER ONE................................................................................................5 INTRODUCTION..............................................................................................5 AIM OF THE RESEARCH.......................................................................................................9 RESEARCH OBJECTIVES.....................................................................................................10 SCOPE OF THE RESEARCH ...............................................................................................10 SIGNIFICANCE OF THE REESEARCH..................................................................................10 Significance to the Researcher...................................................................................11 Significance to the Academicians...............................................................................11 Significance to the Organisation................................................................................11 Significance to the Customers...................................................................................11 Commercial Significance............................................................................................11 Social Significance.....................................................................................................12 RATIONALE FOR THE RESEARCH.......................................................................................12 OVERVIEW OF FIRST BANK PLC NIGERIA...........................................................................12 SUMMARY OF INTRODUCTION...........................................................................................13 CHAPTER TWO..............................................................................................14 LITERATURE REVIEW.....................................................................................14 PURPOSE...........................................................................................................................15 THE EASE OF USE OF INTERNET BANKING & HOW IT AFFECTS CUSTOMERS....................16 THE ISSUE OF TRUST IN THE NIGERIAN BANKING INDUSTRY............................................21 POSSIBLE DIFFERENCES IN DEMOGRAPHIC FEATURES.....................................................24 PRIOR KNOWLEDGE OF COMPUTERS AND TECHNOLOGIES..............................................26 CONCLUSION OF LITERATURE REVIEW.............................................................................27 CHAPTER THREE...........................................................................................28 PURPOSE...........................................................................................................................29 RESEARCH METHOD.........................................................................................................29 RESEARCH DESIGN...........................................................................................................30 RESEARCH DESIGN PROCESS...........................................................................................30 SOURCES AND TYPES OF DATA.........................................................................................32 PRIMARY AND SECONDARY RESEARCH......................................................................32 PRIMARY RESEARCH ........................................................................................................32 Advantages of Primary Research...............................................................................33 Disadvantages of Primary Research...........................................................................33 SECONDARY RESEARCH....................................................................................................34 Advantages of Secondary Research...........................................................................35 Disadvantages of Secondary Research......................................................................35 DATA COLLECTION TOOLS................................................................................................35 DATA COLLECTION TOOLS................................................................................................36 SAMPLE TECHNIQUES AND METHODS..............................................................................36 PROBABILITY AND NON PROBABILITY SAMPLING........................................................36 PROBABILITY SAMPLING....................................................................................................37 Random Sampling.....................................................................................................37 Systematic Sampling.................................................................................................38 Stratified Sampling....................................................................................................38 NON PROBABILITY SAMPLING...........................................................................................39 Convenience Sampling..............................................................................................39 Judgment Sampling...................................................................................................39 Quota Sampling ........................................................................................................40 Snowball Sampling....................................................................................................40

DATA ANALYSIS METHOD..................................................................................................40 QUALITATIVE AND QUANTITIVE RESEACRH................................................................41 QUANTITATIVE RESEARCH................................................................................................41 QUALITATIVE RESEARCH...................................................................................................42 RESEARCH POPULATION...................................................................................................42 DATA ANALYSIS AND PRESENTATION...............................................................................43 RELIABILITY.......................................................................................................................43 VALIDITY...........................................................................................................................43 LIMITATIONS OF THE RESEARCH.......................................................................................43 ETHICAL ISSUES................................................................................................................44 CONCLUSION OF THE RESEARCH METHODOLOGY............................................................45 CHAPTER FOUR............................................................................................47 FINDINGS OF THE RESEARCH.........................................................................47 PURPOSE...........................................................................................................................47 FINDINGS .........................................................................................................................47 CONCLUSION OF THE FINDINGS.......................................................................................57 CHAPTER FIVE..............................................................................................58 DISCUSSION OF THE FINDINGS ....................................................................58 PURPOSE...........................................................................................................................58 DIFFFERENCES IN DEMOGRAPHIC FEATURES ..................................................................58 THE ISSUE OF TRUST & SECURITY ON INTERNET BANKING..............................................59 PRIOR KNOWLEDGE OF COMPUTER AND ITS EFFECT ON INTERNET BANKING.................62 EASE OF USE & HOW IT AFFECTS THE ADOPTION OF INTERENT BANKING.......................63 IMPLICATIONS FOR FUTURE RESEARCH..........................................................64 CONCLUSION................................................................................................65 RECOMMENDATION.......................................................................................68 REFERENCES................................................................................................70 BIBLIOGRAPHY.............................................................................................82 WEBSITES....................................................................................................88

CHAPTER ONE INTRODUCTION

In recent years the growth and development of information technology have brought about changes in the way and manner by which things are done within the organisation. As a result of this the global business environment has been affected greatly by the technological improvement and advancement; and this has brought about tremendous changes on the processes that organisation such as First bank Nigeria plc adopts in terms of serving their customers. It can be said that the introduction of internet banking into the banking system in Nigeria have helped the country to be able to come up with easy ways of serving its customers thereby making its products and services accessible to its stakeholders (Cheung, 2001) At the same time it is also important to note that the need for First bank Nigeria plc to establish relationship, loyalty and satisfaction among its customers has become a top priority for the bank and as a result of this have brought about advancement in terms of internet banking and innovation within the organisation. According to Akinci et al (2004) it can also be said that the adoption of internet banking within the business environment of the organisation has become a necessity for both the banks and their individual customers. This is because of the fact that its adoption will help the organisation to deliver better services to its customers which will bring about customers satisfaction and at the same time help the organisation to deliver a more cost effective service (Barnes, 2002). In developing economies such as Nigeria it is important to note that organisations such as First bank Nigeria plc encounter a lot of problems in terms of educating and equipping its employees on how best to use its internet banking facilities. The introduction of the internet banking
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within the organisation have been able to help the organisation to come up with better ways of transacting businesses activities within its environment. Developing countries such as Nigeria when compared to other countries of the world such as the United Kingdom and United States; it can be said that the country is still behind in terms of infrastructural development, the adoption of internet banking and e-commerce (Ajzen and Fishbein, 2008; Ajzen and Madden, 2006). According to Corritore (2003) it can also be argued that other factors such as inadequate information about the economy, poor infrastructure, inadequate trained man power and poor banking infrastructure are some of the factors that pose as obstacle and hindrance to the development of internet banking in Nigeria. It is also important to note that despite this challenges faced by financial banks in Nigeria such as First bank plc the organisation have been able to emerge as one of the successful banks within the country and Africa as a whole. According to Adams et al (2002) the term internet banking allows customers to be able to conduct financial transactions on a secure website operated by their banks, credit union or building society. It can also be said that internet banking are made up of many features and capabilities but traditionally have some that are applicable specific which includes transactional, non transactional, financial institution administration, transaction approval process and management of multiple users having varying levels of authority. This simply means that the term internet banking is used by the customers of first bank plc in terms of performing financial transactions such as an account to account transfer, loan application, opening a new account and payment of utility bills. At the same time it can also be said that the internet banking is also used by the customers to be able to access its online bank statements and at the same time chat with the organisation through its virtual network (Bagozzi, 2007). Among the customers of First bank plc the issue of trust is the major factor that affects internet banking within the organisation; this is because the customers of the organisation wants their personal details to be protected thereby avoiding the transfer of their information to the third
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party without their consent. As a result of this in order for the organisation to compete favourably among its competitors within its business environment; they need to understand the possible factors that affect its customers and at the same time be able to come up with necessary steps that will guarantee the safety of its stakeholders. In order for financial institution such as First bank Nigeria plc to succeed in its objective of building a long term relations with its customers they need to understand the factors that influence and attract customers to use internet banking. This is because the ability of organisations to build trust and relationships with its customers goes a long way in terms of helping the business to maintain its position and compete favourably within its market place. As a result of these financial institutions such as First bank Nigeria plc needs to understand the best ways of attracting new customers from different cultures and backgrounds to use their services both online and offline (Davis, 2009). The timely diffusion of new technology has been found to be one of the main elements of economic growth (Balachandran et al, 2001). An example of such new technology is internet banking, a service innovation that has revolutionised the banking industry worldwide (Bagozzi et al, 2009). Understanding the acceptance of such new technology hence becomes important from a policy point of view. Internet banking has become an important distribution channel both for the banks and their customers, for the banks it is expected to lead to reduction in operating costs, help to retain current customers while also attracting a new customer base from existing internet users and for the customer a convenient way to execute their bank transactions anytime and anywhere (Rotchanakitumnuai and Speece, 2003). Internet banking has become a vehicle through which Nigeria banks are attracting new customers, building customer loyalty, enhancing customer relationships, retaining customers, increasing market share, increasing profitability and reducing transaction cost. The need to discover the factors that have driven internet banking usage in Nigeria motivates this study.
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The Nigerian banking sector has experienced a lot of mergers and acquisitions in recent times following in the onset of consolidation which started in 2005. These have brought about a lot of changes and need for improvement. Customer satisfaction and loyalty have now become a top priority for the banks and this involves a lot of innovation in technology and financial products. Nigerian banks in the quest to retain their customers and keep up with counterparts in the rest of world have invested a lot in technology. An advance in technology such as internet banking has now become a necessity for both the banks and their customers. Its adoption will help the banks deliver better satisfaction to their customers and will also help them deliver a more cost effective service (Rotchanakitumnuai and Speece, 2003). Developing countries still lag behind the more developed countries in terms of internet banking and e-commerce adoption by a large distance despite its global reach hence they also miss out on the huge benefits they stand to gain (Barnes, 2002). Factors such as inadequate communication infrastructure, unavailability of trained man power, poorly kept records about the economy and environment also inadequate banking infrastructure are some of the issues that pose a hindrance to the growth of e-commerce in developing countries (Blaxter et al., 1996). Despite all of these challenges Nigerian banks have emerged among the successful banks in Africa in terms of growth. According to Khalfan and Akbar (2006) the term internet banking simply means a system that allows individuals carry out banking activities from the convenience of their homes, offices and various other places. It thereby allows customers carry out tradition banking services such as fund transfer, opening accounts, bills payment and various other transactions using the internet as a delivery channel (Mailhotra and Singh, 2008). Despite the various opportunities both the bank and their customers stand to gain from the adoption of this form of banking things have not moved as quickly as many researchers have anticipated with most customers still considering internet banking less important than other forms of electronic banking such as
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ATMs and telebanking (Rotchanakitumnuai and Speece, 2003; Aladwani, 2001; Suganthi et al., 2001). Giving the problem stated above there is the need to look into the issue of internet banking. Only a handful of studies have specifically examined the use of internet banking with most of the other studies focusing on other forms of electronic banking and furthermore most of these studies have been done in the developed economies (Malhotra and McCort, 2008). A few studies have be done looking at some Asian and other emerging economies (Balachandran et al., 2000; Suganthi et al., 2001; Gerrard and Cunningham, 2003; Rotchanakitumnual and Speece, 2003) however even fewer studies focusing specifically on internet banking use in Africa have been carried out e.g. (Alagheband, 2012). The paucity of literature on internet banking in Africa and Nigeria in particular further emphasise the importance of carrying out this research. An understanding of the factors that affect the use of internet banking will assist the bank in improving their services thereby retaining existing customers and attracting new ones, it will also help the bank take measures that help increase the uptake of internet banking thereby leading to huge savings in terms of running costs. Hence the adoption of internet banking in Nigeria by bank customers warrants investigation in order to scrutinize some of the factors that have influenced its use in the face of all these challenges hence the specific objectives of this study are stated below

AIM OF THE RESEARCH The aim of the research is to investigate the factors affecting the use of internet banking amongst customers of First bank Nigeria plc

RESEARCH OBJECTIVES 1. To evaluate possible differences in demographic features, that exist between customers that use internet banking and those who do not use the service. 2. To assess how ease of use affects the adoption of internet banking by customers. 3. To investigate how issues pertaining to trust in the system as well security affect the adoption of internet banking. 4. To critically examine how prior knowledge of computers affect the use of internet banking. 5. To make recommendations based on the findings to the management of first bank Nigeria. SCOPE OF THE RESEARCH The study will be limited among the customers of First bank Nigeria plc; its main branch in Allen Avenue in Lagos state Nigeria have been chosen in order to be able to reach a large number of its customers. At the same time it is important to note that First bank Nigeria plc has been chosen because of the fact that the organisation was among the first financial institutions within the country to introduce internet banking within its business processes.

SIGNIFICANCE OF THE REESEARCH The research will be of immense significance to first bank Nigeria plc together with its customers and other financial institutions that adopts the use of internet banking within its business environment. Apart from the organisation and the customers of the bank the research will also go ahead to benefit other groups listed below which includes the following:

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Significance to the Researcher

The research has helped the researcher to better understand the concept of internet banking together with the factors that affects it within the organisation; at the same time has helped the researcher to enlarge and broaden its intellectual horizon on the topic under discussion

Significance to the Academicians

The research has helped the researcher to be able to contribute its own quota to the growth and development of the body of knowledge and at the same time have become a reference point when conducting future research and academic work

Significance to the Organisation

The research have at the same time helped the organisation to understand the problems faced by its customers while using the internet banking together with the best ways of adopting the system in order to be able to compete effectively within their business environment

Significance to the Customers

The research have also benefitted the customers tremendously because it has been able to help the organisation to be able to understand the importance of internet banking and the best possible ways of dealing with the issues they encounter in the process of using this system of banking

Commercial Significance
The research have also helped the organisation to understand the importance and the benefits of internet banking and its ability in terms of helping the business to compete favourably within its environment

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Social Significance
The research has also helped the organisation to understand the need to be socially responsible within the business environment and the importance of contributing their own quota towards the growth and development of the society in which they operate RATIONALE FOR THE RESEARCH Having lived in Nigeria over the years and at the same time worked with First Bank plc Nigeria as one of its employees for a period of 3 years prompted my curiosity on the issue of internet banking as regards to the organisation. It is also important to note that over the years First bank plc have distinguished itself in the way and manner it goes about in terms of conducting its business activities in order to be able to satisfy its customers. At the same time it is important to note that First bank plc is among the first financial institutions in Nigeria to introduce internet banking within its business activities. As a result of this my main objective of the subject under scrutiny is to investigate the factors that affect the use of internet banking within the organisation. OVERVIEW OF FIRST BANK PLC NIGERIA First Bank of Nigeria is a Nigeria premier bank and financial services firm founded in 1894 by Alfred Jones; it is said to be the third largest bank and the largest retail lender in the country with its headquarters in Lagos Nigeria. The bank is a financial industry that specialises in the provision of financial services to its customers; it commenced operation in Lagos under the name Bank of British West Africa; in 1957 the bank changed its name to Bank of West Africa. Africa. Another name change occurred in 1966 following its merger with standard bank; UK when the bank adopted the name Standard Bank of West Africa. In 1969 following the Companies Decree of 1968 the bank was incorporated locally as the Standard Bank of Nigeria

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Limited. Further name changes in 1979 and 1991 to First Bank of Nigeria Limited and First Bank of Nigeria Plc. The bank has grown to be one of the biggest banks in Nigeria with its branches all over the country and some parts of Africa. It is important to note that First bank plc started the use of internet banking in mid 2000 and since then have continue to advance in the way and manner it renders its services to its customers. Some of the products offered by the bank includes Ebanking, consumer banking, wholesale banking, agricultural financing, bills payment, money transfer and First Diaspora. The various E- banking products offered by the bank include First online, First mobile, First alert, First pay, First collect. The E- banking product which is relevant to the research is first online which the internet banking product is offered by First Bank. As at quarter of 2011 the bank recorded US$1.35 billion in its revenue and US$18.6 billion in its total assets and employs over 5000 employees in its branches worldwide. Source: (Adapted the Information from First Bank, 2011) SUMMARY OF INTRODUCTION Having examined the purpose of this chapter which is to evaluate the factors affecting the use of internet banking amongst customers of First bank Nigeria; it can be said that the use of internet banking helps the customers to be able to transact their business activities online without the need of visiting the bank. At the same time it can also be said that the customer is faced with lots of challenges while using the internet banking system; this is because of the fact that internet banking fails to guarantee the safety and security of the customers details. At the same time it is important to note that Nigeria is a country that is still in its development stages and as a result of this is faced with the problems of security in terms of its online business activities.

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CHAPTER TWO LITERATURE REVIEW

As stated by Blaxter et al (2006) the term literature review simply means the review or description of relevant academic literature on a particular field of study which is conducted in order to locate the research project and at the same time form the context that provides insight
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into previous academic work. It is important to note that the aim of this chapter is to reassess the critical points of current knowledge such as substantive findings as wells as theoretical and methodological contributions to a particular topic. At the same time it can also be said that literature reviews are mainly based on secondary sources and at the same time don not report any primary or original experiment or piece of work. The ultimate goal of a literature review is to bring the reader up to date with current information on a given topic and forms the basis for another goal, such as future research that may be needed in the area. Literature review is made up of logical flow of ideas, references and appropriate use of words together with an unbiased and complete view of the previous research on the given topic or subject of study. It can also be said that the term literature review gives a brief introduction of what has been said, the key writers and the prevailing theories used in conducting the research. In the process of conducting a literature review the primary research that can be employed may be verbal, but in most cases the review is mainly conducted on written or secondary documents. It can also be said that a literature review seeks to summarise, evaluate, integrate and clarify the content of primary study or research (Cooper, 2008). As a result of this the aim of a literature review can be achieved through a critical analysis of a particular issue together with a complete understanding of relevant theoretical frameworks underpinning important issues of study. In this research the factors affecting the use of internet banking amongst customers of First bank Nigeria plc will be evaluated in order to understand the best ways by which the organisation can be able to improve in their business activities within its environment

PURPOSE
The purpose of this chapter is to review the existing body of literature which is related to the topic under discussion by providing proof of scholarship and a critical points of current

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knowledge such as substantive findings as wells as theoretical and methodological contributions to a particular topic

THE EASE OF USE OF INTERNET BANKING & HOW IT AFFECTS CUSTOMERS

According to Khalfan and Akbar (2006) the term internet banking simply means a system that allows individuals to carry out banking activities from the convenience of their homes, offices and various other places. It thereby allows customers carry out tradition banking services such as fund transfer, opening accounts, bills payment and various other transactions using the internet as a delivery channel. Despite the various opportunities both the bank and their customers stand to gain from the adoption of this form of banking things have not moved as quickly as many researchers have anticipated with most customers still considering internet banking less important than other forms of electronic banking such as ATMs and telebanking (Rotchanakitumnuai and Speece, 2003). It can also be said that the common of features of internet banking includes the fact that it can be categorised into transactional, payment to third parties, funds transfer, investment, loan application, non transactional, financial institution administration, transaction approval process and management of multiple users. This simply mean that the internet banking can be used in performing financial transaction within the organisation such as bill payment, loan application, opening new account and at the same time it is also used in non transactional activities by the customers such as viewing of recent transactions and online statements together with downloading bank statements (Jun and Cai, 2001). In the Nigerian banking context the term internet banking is in most cases known as online banking and it is a term used to encompass all banking services that are not traditionally used in the banking sector. Some of these services include electronic banking, personal computer
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banking, telephone banking, home banking and internet banking. Stated below are the different forms of online banking and they include the following: Features and Functions Features Telephone Banking Withdrawals Deposits Balance Enquiries Interim Statements Transfer Funds Cheque Book Orders Change ATM Card PIN Stop Payment of Cheques Rates Stop Orders Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Self Service Terminals Y Y Y Y Y Y Y Y Y Y Y ATMs Internet Banking

Source: (Adapted from AC Nelson Consult, 2012) It is important to note that the areas represented with (Y) signifies those banking activities that can performed First Bank Nigeria plc either through telephone banking, self-service terminals, automated teller machines and with the use of internet banking. Looking at the table above it can be said that the amount of activities that can be performed by the customers of the organisation through the use of internet banking include bank enquiries, uploading of interim statements, transfer of funds, ordering of cheque books, changing of ATM card PIN, payment of cheques and finally putting a stop to order in the form of postal orders or purchased items (Featherman and Pavlov, 2008).

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This simply means that internet banking goes a long way in terms of helping the customers to carry out their banking activities more effectively without necessary visiting the bank in person. It can also be said that the presence of effective and up to date internet banking system within an organisation goes a long way in terms of distinguishing the business activities of the institution when compared to its competitors within the industry (Hoffman, 1996). As stated by Daniel (1999) an effective internet banking system serves a competitive for the organisation and helps them to differentiate themselves from their competitors. On the other hand it can also be argued that the presence of internet banking system makes it difficult for the customers to be able to carry out their banking activities effectively within the organisation. This is because of the fact that the organisation has failed in its obligation of educating its customers on the best ways to operate the internet banking and at the same time the system on its own has failed to guarantee the trust of its customers (Karjaluoto, 2002). As identified by Barczak (2007) internet banking is a remote home or office service that is offered to banks personal customers in order to carry out routine banking transactions through the use of internet. This type of banking is said to be convenient and easily accessible because of the fact that the bank allows the customer to make use of the banks software or that of an internet service provider At the same time it allows customers to access their individual accounts from any location as long as they have an internet access; in addition it provides the customers with the ability to perform transactions through the banks websites without the need of visiting the bank physically or any nearest automated teller machines. It can also be said that the services available for internet bank system vary from one bank to another and as stated by Al-Ashban and Burney (2009) almost all the banks that offer internet banking services allow their

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customers to check the balances in their personal accounts, apply for loans, transfer funds and order electronic bill payments together with the trading of stocks or mutual funds. According to Howcroft et al (2002) it is important to note that the use of internet banking system offers a lot of advantages to the customers when compared with the traditional banking methods. Some of these advantages can be said to include the fact that internet banking saves the time of the customer. This is because internet banking helps the customer to be able to access its individual accounts without the need of visiting the branch physically. It can also be said that this system of banking is convenient for the customers because of the fact that an individual account can be paid and funds transferred without the need of queuing at the bank or writing cheques (Kennedy, 1993). In terms of accessibility, the services of the bank can be accessed on a day basis including weekends. With the use of internet banking system transactions are executed and confirmed almost immediately; and it allows the customers of the bank to do virtually everything ranging from checking of an account balance to applying for a mortgage. At the same time it can be said that with internet banking customers can be able to choose their own PIN and at the same time prevent unauthorised access to their different individual accounts. The need to carry large amount of cash around is reduced or minimised through the use of internet banking system within financial institutions such as the First Bank Nigeria plc (Durkin, 2004) At the same time the use of internet banking can also be criticised because of the fact that the use of internet banking has certain systems requirements such as accessibility to computers, memory, screen resolution and browsers, which prove to be an additional cost to the customer when compared to the traditional banking methods or other online banking services such as the use of automated teller machines. In a country like Nigeria majority of First Bank Nigeria plc

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have no access to their own personal computers and the use of the public computers involves an additional cost to their limited available resources (Liao et al., 2009) This makes it difficult for them to be able to utilise the internet banking services provided by their local banks. As stated by Locket and Littler (1997) another area of criticism about internet banking is based on the fact that the use of internet banking does not allow the customer to make deposits or withdrawals when using the services. Its purpose is mainly to check the bank statements and at the same time transfer some funds; and at the same time it can be said that the security system of the services is a threat to the customers because of the fact that it can make hackers and fraudster to get hold of the customers personal details. In Nigeria today the main domestic banks such as First Bank Nigeria plc, Guarantee Trust Bank, Oceanic Bank and Union Bank plc and others are all offering internet banking services. These banks continue to invest a lot of resources in terms of developing the internet banking system within their different organisation with the main objective of encouraging customers to adapt to this innovation. According to Adams et al (2002) Nigeria internet population continues to grow and is expected to have an internet population of over 65 million by the end of 2015; and at the same time plans to recruit over 50,000 users to the service in a month. Banking institution in Nigeria such as First Bank Nigeria plc in their bid to promote internet banking within their individual customers has offered free Internet Service Provider service in order to encourage the use of the internet and internet banking and the offer include setting up of an information technology department that handles some technical issues within the organisation together with offering 10 megabytes of free web space. The bank hopes that the publicity surrounding the service will generate enough interest in internet banking among the large population of Nigerians which will help them to be able to double their customer base. It

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can be said that the organisation currently has over 153,000 customers who make use of its online banking services in its branches within and outside Nigeria Luarn and Lin (2004). Apart from the domestic banks there is new type of bank emerging in Nigeria and in other countries of the world such as the United Kingdom and the United States known as the virtual bank. The major difference between the virtual bank and other banking institutions is based on the fact that a virtual bank does not have a physical presence, or a particular branch in terms of building (Lee and Turban, 2001). This is because of the fact that this type of bank performs most of the services provided by the domestic banks with regard to internet banking. This type of bank operates effectively through the use of online or internet banking; and it is important to note that according a recent survey First Bank Nigeria plc came out on top as one of the best banks that offer the broadcast range of internet banking services in Nigeria. This is because of the simple fact that the bank allows its customers to perform more transactions on the internet than any other bank in Nigeria such as Union Bank plc, Intercontinental bank and Guaranteed Trust bank plc.

THE ISSUE OF TRUST IN THE NIGERIAN BANKING INDUSTRY

As stated by Hoy and Tarter (2004) the term trust is a very complex construct and it is multidimensional in nature; it can be said to mean the ability to believe in the honesty and reliability of others or a system. It can be said that one of the most frequent attributes of trust is based on the fact that trust is a psychological state comprising the intention to accept vulnerability based upon expectations of the intention or behaviour of another under conditions of risk and interdependence (Van and Sniezek, 2005). This simply means that the term trust is a psychological state in terms of beliefs and positive expectations with positive or non negative outcomes that requires the consent of other members and developed under uncertain, risk and interdependence (Rousseau, 1998; Bhattacharya et al., 1998).
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As stated by McKnight et al (2002) the presence of institution-base trust, disposition to trust and perceived site quality goes a long way in terms of affecting customers trusting beliefs in the internet banking system used by organisations such as First Bank Nigeria plc. As a result of this it can be said that disposition to trust, institution-based, trusting beliefs and perceived Site quality affects the customers intention to engage in trust related behaviours with a specific financial organisation. As argued by Gefen et al (2003) it can also be said that general web experience affect customers perceptions of the institutional environment; and as a result of this they suggested that the presence of institutional based trust affects customers trust with an organisation. As identified by McKnight et al (2002) the term disposition to trust can be defined as the general propensity to trust others in the e-commerce context. It can be said that this type of trust represents the inclination to trust on other people and is the ability of an ability to trust an individual based on the traits the person posses that he has tried to develop through his lifetime (Tan and Sutherland, 2004). This type of trait is based on personality type and development experience; as a result of this an individual with a high propensity to trust others tend to colour the interpretations of the relationships build between the trustor and trustee. According to Chang and Cheung (2005) institutional-based trust on the other hand refers to a persons perception of the institutional environment; which leads to higher levels of trust in the banking organisation that is offering the internet banking system. As stated by Moorman et al (2003) in organisations where the customer trust is not guaranteed in the internet banking opportunities that will rise from implementing web technology will be restricted and this will bring about lost of opportunities within the business unit. For organisation hoping to compete favourably within its industry; its internet banking system must be built in such a way that it guarantees the trust and confidence of its customers this is believe
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will help the organisation to stand out in its business activities and at the same time help them to achieve their objectives. As a result of this the term trust can be said to be an expectation of ability to perform, reliability and intentionality of a partner which can be viewed as a behavioral intention behaviour that reflects dependence on the other partner. In addition, according to Hunt (2004) the term trust can be said to be the perception of confidence in the exchange partners reliability and integrity. Looking at both definitions it is important to note the relevant of the keys words is confidence and reliability in the concept of trust; and at the same time it can be said that one of the reasons why customers do not trust the internet technology or the internet banking system is based on three reasons which includes security of the system, distrust of service providers and worries about the reliability of internet services (Lee and Turban, 2001). As a result of this the strong concern of the security of the internet banking system is one common factor related to unwillingness to use internet channels for commerce (Black et al, 2001). This is because of the fact that security breaches on the internet banking system can bring about numerous problems ranging disruption of information access and destruction of operating systems. As stated by Black et al (2001) poor security system on the internet banking system brings about lack of trust on the part of the customers and at the same time increases the level of risk in terms of using the Web for financial transactions. At the same time it is important to note that reputation is important, as distrust of the service provider is a related factor. According to Jarvenpaa et al (2002) the reputation of banking institutions such as first bank Nigeria plc goes a long way in terms of assuring the safety of the customers; at the same time it helps to restore confidence on the customers and at the same time guarantee the honesty and integrity of the organisation. As a result of this for organisations such as First Bank Nigeria plc
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to function effectively within its business environment must be able to have experience in business functions, policy and at the same time be able to support the personnel to build reputation as a competent technology-based service provider for the organisation. For organisations such as First Bank Nigeria plc to be able to compete effectively within the banking sector within and outside the country they need to try and establish a good reputation among their customers. A good reputation helps organisations to gain the trust of their customers and is said to be one of the major factors that affect customer adoption of new technology-based service delivery (Aladwani, 2001). It can also be said that reputation

depends largely on policy promises to customers which includes privacy policy as most do not like their personal information revealed in an inappropriate manner or misused by others over the internet (Turban et al., 2002). As identified by Walker et al (2002) the presence of perceived risk can also cause customers to reject the use of internet banking within the organisation or the introduction of technology-based service delivery. This is because of the fact that perceived risk is related to reliability and system failure. In addition, it can be said that the presence of perceived risk in an organisation brings about lack of trust in terms of its ability to use the internet banking system (Kraft et al., 20005)

POSSIBLE DIFFERENCES IN DEMOGRAPHIC FEATURES

According to Howcroft et al (2002) it is important to note that possible features could affect customers attitudes towards internet banking within the banking institutions; and some of these features include a persons demographic, motivation and behaviour towards different banking technologies and individual acceptance of new technology. In terms of the demographics factor a recent survey revealed that younger consumers value the convenience or time saving potential of internet banking when compared to their older counterparts. This is because of the fact that younger customers regard the lack of face-to-face contact in the bank as
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less important than the older customers. The older customers lack full confidence on the internet banking system and as a result of this prefer the face to face contact they get whenever they go to the bank for their business transactions (Eriksson et al., 2008). As stated by Karjaluoto et al (2002) the educational level of the customers does not in any way affect their decision of using the internet banking when transacting their business activities. On the other hand Sarel and Marmorstein (2003a, b) beg to differ by stating that household income and education has a significant effect on the adoption of internet banking within organisations. This is in accordance with their latest research on the typical user of internet banking in Finnish market in which they concluded that relatively young and wealthy person with good knowledge computers and especially the internet. Among the motives for using the internet banking system for the motivational clusters for peoples money management philosophies includes security consciousness, maximisers, hassle avoiders and instant gratification (Barczak, et al., 1997). This simply means that for organisations such as First Bank Nigeria plc to be able to accept the internet banking system as a new way of transacting their businesses within the organisation they need to be able to prepare and advise their customers on the need of changing from their old ways of banking to a new way of transacting their business activities within the organisation. They can achieve this by organising seminars and workshops for their customers on the need and importance associated with internet banking when transacting their businesses (Sathye, 1999). Thornton and White (2001) argued by stating that the customers of banking institutions are not generally predisposed to change; this is because of the fact that their behaviours are not used to the widespread usage of internet banking system.

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PRIOR KNOWLEDGE OF COMPUTERS AND TECHNOLOGIES

As stated by Karjaluoto et al (2002) prior know of computers and technological equipments goes a long way in terms of influencing the both the attitudes towards online banking and actual behaviours. According to their study prior knowledge or experience of computer have an important and significant impact in terms of the ability to use the internet banking system within the banking industry. Apart from the fact that it helps the use of internet banking system it also have a positive effect on both attitudes and satisfied customers tend to keep up with their current delivery channel. It can also be said that other factors that affect internet banking and actual behaviours were as a result of the attitude of the customers; this is because of the fact that most of them are either satisfied with the system or dissatisfied with it. At the same time it can be said that influence from families and others strongly affect the attitudes and behaviour of customers towards the use of internet banking. As stated by Lewis (2003) one of the reasons why consumers switch delivery channel from the traditional way of banking towards the internet banking is because of the fact that they are fed up with the new ways of doing things and as a result of this wants to try the new ways of doing things within the organisation. It is important to note that one of the reasons why the customers of First bank Nigeria plc are dissatisfied with the traditional way of banking was as a result of the fact that it involves a slow speed of service in branches; and some of the opening hours of the branches are sometimes inconvenient for the customers. At the same time it can also be said that some of the branches are very small and the staff within this organisation lacks the necessary manners in terms of attending to a customers. According to Joseph and Stone (2003) in their recent study stated that a proper implementation and delivery of internet banking within the organisation brings about customer satisfaction. This simply means that the customers of the organisation prefer a mix of
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rather than any one single delivery channel; and the need for the service providers to understand and improve its channel within the overall service offering rather than concentrating efforts on improving one delivery channel in isolation (Patricio et al., 2003). As pointed by Karjaluoto et al (2002) in their recent survey pointed that the general attitudes of customers towards the use of internet banking is based on the fact that they are faster way of transacting business activities within the bank, is cheaper and more service-oriented when compared to the traditional way of banking. At the same time it can also be said that trust and perceived risks have an immense positive and strong influence on customers when it comes to the issue of commitment towards the adoption of internet banking system within the business activities of the organisation (Mukherje and Nath, 2003). According to Mukherje and Nath (2003) other reasons why the customers use the internet banking system within the organisation may be as a result of the perceived usefulness and perceived ease of use of such transactions. This simply means that one ones trust in an online firm may not be derived only from prior familiarity with the firm, but also from calculative, institutional and identification together with the beliefs about the firm. At the same time it is can be said that the most important factor that encourages the use of internet banking among the customers can be said to be as a result of the lower fees and improved levels of service, i.e. error-free-service. Other reasons why the users feel reluctant towards the use of internet banking services were concerns over security and lack of awareness programmes offered by the bank in terms of how best to use the internet banking together with their complex banking sites (Mukherje and Nath, 2003)

CONCLUSION OF LITERATURE REVIEW

Having examined this chapter it can be said that the internet banking system offers a lot of advantages to its customers such as its ability to save time and its convenience in terms of
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transacting business and checking of account balance. At the same time it can be criticised because of the fact that the use of internet banking has certain systems requirements such as accessibility to computers, computer type, screen resolution, browsers and memory which serves as an additional cost to the costs already incurred by the customer. On the other hand it can be said that the issue of costs continue to be the main problem of internet banking because of the fact that the customers are scared of using their information online. Among the reasons for customers lack of trust on internet banking; it can be said that the three main reasons on why customers frequently do not trust internet banking system or technology include the issue that has to do with the security of the system, distrust of service providers and worries about the reliability of internet services

CHAPTER THREE RESEARCH METHODOLOGY

According to Dane (1990) the term research methodology aims at investigating and stating the way and manner used by researcher in terms of conducting a research on a particular subject in order to discover or revise facts, its application and the relevant academic theories. This simply implies that the primary objective of research methodology is to investigate or discover important information and the way the research will be conducted on a particular are of study. In addition it is also important to note that research methodology is an enquiry that goes beyond generally available knowledge with the aim of providing a basis for analysing comment on the topic of enquiry. The term methodology refers to the philosophical basis on which the research is founded whereas on the other hand methods simply refers to particular techniques used by the researcher in the process of collecting data and useful information when conducting an academic research (Johnson, 1994). The research have looked at the different factors affecting
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the use of internet banking amongst customers of First bank Nigeria plc in order to understand the best ways of rendering its services to its stakeholders

PURPOSE
The primary purpose of this chapter is to analyse and present the research design, sampling and the methods together with the way by which the data has been analyzed and presented in the process of conducting this research.

RESEARCH METHOD
The term research method refers to the particular techniques used by the researcher to collect data and information in the process of conducting a research. It can also be said that academic research are conducted for different reasons and purposes; in order to achieve this different research methods are used and they include exploratory, descriptive, analytical or predictive research (Saunders et al, 1997). As stated by Dane (1990) the term analytical research aims at analysing a particular topic in such a way that a balanced idea will be stated on the topic under discussion. It starts by stating the advantages and the disadvantages of a given topic in such a way that the organisation will understand benefits and the disadvantages involved in terms of introducing the use of internet banking within its business units. It is also important to note that analytical research have been used in the process of conducting this study in order to understand the factors the customers of First bank Nigeria plc while using the internet banking and this method was chosen because of the fact that it offers a balanced view on a particular topic and at the same time have helped the research to confirm the patterns, facts and principles (Burns, 2000).
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RESEARCH DESIGN
The term research design aims at covering a number of separate, but related issues associated with the research. This includes the main purpose of conducting the research, data collection techniques, final selection of the appropriate methodology, data analysis and interpretation together with the way and manner by which all this fits in with the literature (Gill and Johnson, 1997).

RESEARCH DESIGN PROCESS

PLANNING PROCESS 1. Gather Requirements 2. Finalize Objectives 3. Choose Methodologies

EXPLORATORY RESEARCH 1. Explore Themes 2. Understand Problems & Issues 3. Identify Key Factors

QUANTITATIVE RESEARCH 1. Develop Questions for Testing 2. Define Factors and Variables 3. Execute Study & Measure Results

Source: (adapted from Creswell, 1994)

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A quantitative approach have been used in the process of conducting this study and the various concepts that was raised earlier in the introduction and literature review acted as a guide to data collection. The choice of a quantitative approach is due to the fact that the concepts being investigated in this study have already been dealt with before hence this research is not seeking to build up a theory as would be the case with a qualitative approach (Bryman and Bell, 2007). It can also be said that another reason for using questionnaire is because of the fact that the intended participants in study have been more disposed to completing questionnaires for a few minutes than taking part in an interview which will be the case if a qualitative research method is adopted. This research has been divided into five chapters. The first delves into the background of the study looking at issues pertaining to the topic and generally giving a broad overview of the topic. It also spells out the specific aim of the dissertation. It highlights the significance of the study thereby justifying the need to carry out the study. The first chapter gives an insight into the research organization and lists out specific objectives of the study. The second chapter reviews previous works with detailed analysis with the aim identifying various factors that have been previously found to affect the use of internet banking thereby helping to tailor the this research. The third chapter deals with the methodology, here the various methods available for research are looked at highlighting their advantages and disadvantages, the specific method used in the study is identified and the reasons for this are spelt out. The fourth chapter presents the data obtained in the study followed by analysis such data keeping in view the objectives initially set out. The fifth and final chapter talks about the conclusions drawn from the results and proffers solutions in the form of recommendations to the study organization. Limitations encountered will also be discussed here also avenues for further improvement on the topic area in form of future research have been highlighted.
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SOURCES AND TYPES OF DATA

It is important to note that the two sources and types of data include primary data and secondary data and they are explained below as follows:

PRIMARY AND SECONDARY RESEARCH

Primary Data Collected by Observation, Interview, Focus Group, Survey Secondary Data in the form of Records left by People of their Activities PRIMARY RESEARCH

Secondary Data Collected with a Particular Research Design Secondary Literature which Critically Analyses Data Source: (Adapted from White, 1991) SECONDARY RESEARCH

PRIMARY RESEARCH
As stated by White (1991) the term primary research simply the act of getting original information directly from the people about a giving issue through the process of conducting interviews, distributing questionnaires and observation. It deals with producing first hand information directly from the people concerned in the study; and it is important to note that this information have not been utilized before in terms of conducting any academic research. It can also be called a field research because of the fact that this type of research involves field work
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and the information collected in this type of research is used for a particular purpose (Preece, 1994). In this study the primary research have been conducted with the use of questionnaires which were distributed to the customers of First bank Nigeria plc in order to be able to determine the factors that affect them when using the internet banking as a form of transacting their financial transactions. It is also important to note that a total of 100 questionnaires were distributed by the researcher to the customers of First bank Nigeria plc in December 2011 while on holiday in Nigeria. Out of 100 questionnaires that were distributed among the organisation customers a total of 89 of the respondents completed and returned their questionnaire to the researcher. As stated by Thietart (2001) primary research can be said to be the most effective way of conducting a research because of the fact that it helps the researcher to come up with a firsthand information that have not been used in conducting any research. On the other hand it can also be criticised because of the fact that it is expensive and time consuming in terms of using this type of research (Morgan and Kruger, 1998).

Advantages of Primary Research

The main advantages of primary research is that this type of research is made up of up to date information gained through interviewing the individual concerned directly; and at the same time it can also be said that this type of research allows the researcher to be able to collect important information needed to conduct a particular research. At the same time it can also be said that primary research is used to obtain firsthand information that has not been used anywhere else before in the process of conducting any research.

Disadvantages of Primary Research

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The disadvantages of secondary research include the fact that this type of research is very expensive to conduct when compared to the secondary type of research. It can be said that conducting primary research is capital intensive and needs a lot of capital to conduct. At the same time it can also be said that the processes involved in conducting a primary research is time consuming and in some occasions may not yield into any useful result

SECONDARY RESEARCH
As stated by Churchill (1995) the term secondary research simply means a type of research that already exists and can be conducted quite quickly without the need of carrying out a primary research. It makes use of second hand or available information on a particular topic or subject and it is a type of information where the information can easily be collected from the desk and at the same time it can also be said to be the easy way of conducting a research because of the fact that little or no money is spent in terms of collecting the relevant information needed for the research. It can also be said that secondary research is mainly concerned with gathering of information which has already been collected and at the same time it is more concerned with identifying relevant data before time and money are spent on new research which may result in duplication (Bannister et al, 1994). A typical example of secondary data includes company reports, articles, academic journals, published market research reports, publications in libraries together with trend data (Sharp and Howard, 1996). The secondary research have also been used in the process of conducting this research and it was used to access information relating to the research that has already been published in the form of records, government data, information from organisation websites on their internet banking (Crainer, 1996).

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Advantages of Secondary Research

It is important to note that secondary research is easy to conduct when compared to primary research because of the fact that it makes use of existing or available information on a given topic. At the same time it can also be said that in the process of conducting a secondary research the researcher benefits immensely from the work and research conducted by top academicians.

Disadvantages of Secondary Research

One of the main advantages of secondary research is that it relies much on already existing information which may not be up to date with the present conditions of life. At the same time it can also be said that the information gained from this type of research may be misleading and in some cases may not be relied upon by the researcher or the organisation in making their decisions.

DATA COLLECTION TOOLS

The use of questionnaire have been used as the data collection tool in order to be able to get the opinions of the customers of First bank Nigeria plc on the factors that affects them in terms of using the organisation internet banking facilities. A total of 100 questionnaires was distributed among First bank Nigeria plc customers; and 89 respondents completed and returned their questionnaire. The questionnaires were primarily aimed at identifying the factors that affects customers in terms of using internet baking within the organisation. At the same time the secondary type of research have been used by the researcher to access published information relating to internet banking in the form of journals and publications (Crainer, 1996)

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DATA COLLECTION TOOLS

The data collection tools are made up of sampling techniques and methods and they include the following listed blow as follows:

SAMPLE TECHNIQUES AND METHODS

As stated by Gill and Johnson (1991) the term sample simply means a portion or segment of the population selected or set aside for the purpose of investigation. It is very useful in research because of the fact that it helps the researcher to save time and money. It is virtually impossible to investigate every sample unit of the population because of the fact that the number of units is limited (Zikmund, 1994). As stated by Greenfield (1996) the two main types of sampling techniques includes the probability sampling and non probability sampling

PROBABILITY AND NON PROBABILITY SAMPLING

CONVENIENCE NON PROBABILITY JUDGEMENTAL QUOTA SNOWBALL SAMPLING TECHNIQUE RANDOM SYSTEMATIC PROBABILITY STRATIFIED CLUSTER Source: (Adapted from Kennedy, 1993) PROPORTIONATE DISPROPORTIONATE

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PROBABILITY SAMPLING
According to Kennedy (1993) the term probability sampling is mainly used in conducting academic research and at the same time works best with a very accurate and up to date sampling frame. It is said to be the preferred method when carrying out any form of statistical analysis; in terms of random sampling every sampling unit or member of the population has an equal chance of being selected. In this type of sampling each member of the sampling frame is given a number starting at 0 and the sample is selected using either random number tables or numbers generated through the use of calculator or computer (Gill and Johnson, 1991). The probability sampling is made up of random sampling, systematic sampling and stratified sampling. In terms of this research probability sampling was employed because of the fact that it is best suited for academic research. The non probability sampling on the other hand has not been used because of the fact that some of the techniques are not necessarily suited for conducting a dissertation (White, 2009).

Random Sampling
As stated by Balnaves and Caputi (2001) the term random sampling involves a type of sampling where the required sampling is chosen from the sample frame by selecting the numbers as previously described. This type of sampling techniques can be said to be good especially where the sampling frame is not too large and each unit is easily accessible. It is often used in selecting a stipulated number of records from a computer and it is used when the population is very small and the sample is below 500 people (Mason, 1996). The random type of sampling have been used in the process of conducting this research because of the fact that the total number of questionnaire that was distributed in the process of conducting this research is only 100 in number which is less than 500 questionnaires. In addition another reason for

37

using for using the random sampling method is because of the fact that the frame is not too large and each unit is easily accessible.

Systematic Sampling
According to Robson (1993) a systematic sampling is the simplest method of sampling when compared to the random sampling. This is because of the fact that the random sampling can be said to be difficult and awkward and at the same time it can also be said that the use of systematic sampling can be used in the place of random sampling. The systematic sampling was used in the process of conducting this research because of the fact that a selection of First bank Nigeria plc customers was selected from the population.

Stratified Sampling
According to Holliday (2001) the term stratified sampling is the most commonly used type of research because it reduces sampling error and allows the researcher to be able to identify and discover the relevant stratums and their actual representation in the population. While conducting this research the population was spilt into layers or strata which in reality are very different from one another. Examples of strata that were considered while conducting this research includes age groups, gender, occupations and income level of respondents. The stratified sampling was used conducting this research firstly to create the scope before the random or systematic sampling was employed. One of the main reasons for using the stratified sampling was because of the fact that it helped the researcher to reduce sampling error and at the same time allowed the researcher to identify the relevant stratums and their actual representation within the population (Armstrong, 1986).

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NON PROBABILITY SAMPLING

As stated by Silverman (1999) the term non probability sampling refers to a sample that has not been selected using random selection method and this implies that some units in the population are more likely to be selected than the others. It can be said that non probability sampling members are selected from the population in some non random manner and the common form of this selection occurs by accident when the researcher inappropriately introduces non randomness into the sample selection process. A typical example of non probability sampling include quota sampling, snowball sampling, convenience sampling and judgment sampling (Blaxter et al, 1996)

Convenience Sampling
As stated by Hoffman (1996) the term convenience sampling is a type of sampling method used by the researcher in the process of conducting a research where the researcher hopes on getting an inexpensive approximation of the truth. It is a type of research sampling that is used by the researcher because of the fact that it is convenient and to incur the cost or time required to select a random sample

Judgment Sampling
According to Johnson (1994) the term judgment sampling is used by the researcher to select the sample based on judgment and when using this method the researcher must be confident that the chosen sample is truly representative of the entire population. Judgment sampling was used in conducting this research because the factors that affect first bank Nigeria plc customers in terms of internet banking differs from individual to another.

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Quota Sampling
According to Denscombe (1998) the term quota sampling simply means a type of sampling method that is used by the researcher when conducting street interviews and when dealing with market research surveys. In this type of research the population is divided into groups based on age, gender and income level. In this type of research the research starts by identifying the stratums and their proportions as they are presented in the population; at the same time it is used to select the required number of subjects from each stratum and can also be said to be like stratified sampling

Snowball Sampling
As stated by Parsons (1976) the snowball sampling relies on referrals from initial subjects in order to be able to generate additional subjects. It is important to note that this type of sampling makes it difficult sometimes for the researcher to be able to locate respondents because it introduces bias into the research. At the same time it can also be said that snowball sampling introduces the likelihood that the sample will represent a good cross section from the population

DATA ANALYSIS METHOD

Data analysis method is divided into two and they include quantitative and qualitative research and they include the following:

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QUALITATIVE AND QUANTITIVE RESEACRH

QUALITATIVE Conceptual Concerned with understanding Human behaviour from the Informants perspective Assumes dynamic and Negotiated reality Methodological Data are collected through assumes a fixed and measurable Measurable reality Data are collected through measuring things QUANTITATIVE Concerned with discovering facts about social phenomena

Participant observation and Interviews Data are analysed by themes

Data are analysed through numerical

From descriptions by informants comparisons and statistical inferences Data are reported in the language Data are reported through statistical Of the informant analyses

Source: (Adapted from Creswell, 1997)

QUANTITATIVE RESEARCH
As stated by Creswell (1997) the term quantitative research simply means a type of research that involves an objective way of studying things in which its results are given in numerical values. Quantitative research involves the use of statistics in order to properly analyse the results and findings of the research. Its main objective is to study the ways by which things are done within the organisation and is normally used by marketers in their day to day activities of carrying out experiments and surveys. Quantitative research is always conducted with the use

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of questionnaires and interviews; the use of numerical value is used to present the responses of the respondents. A quantitative approach have been used in the process of conducting this study and the various concepts that was raised earlier in the introduction and literature review acted as a guide to data collection. The choice of a quantitative approach is due to the fact that the concepts being investigated in this study have already been dealt with before hence this research is not seeking to build up a theory as would be the case with a qualitative approach (Bryman and Bell, 2007). It can also be said that another reason for using questionnaire is because of the fact that the intended participants in study have been more disposed to completing questionnaires for a few minutes than taking part in an interview which will be the case if a qualitative research method is adopted.

QUALITATIVE RESEARCH
As stated by Denzin (2000) the term qualitative research is a type of research that is based on exploratory research. In this type of research data is usually collected in the form of descriptions and a typical example of qualitative research includes, interview, observation, focus group, diaries, case study and action research. It is also important to note that this research is a quantitative research because it made use questionnaires and not a qualitative research

RESEARCH POPULATION
The research population comprises of 100 questionnaire distributed among First Bank Nigeria plc customers in which 89 respondents completed their questionnaire and returned it back to the researcher. The population was chosen from First Bank Nigeria plc customers who are directly affected by the organization internet banking system
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DATA ANALYSIS AND PRESENTATION

The data collected in the process of conducting this research were presented with the use of Microsoft office excel, Microsoft word and at the same time the results were analyzed using, diagrams, tables and bar charts for easy understanding

RELIABILITY
As stated by Easterby-Smith et al (1991) the term reliability simply means the consistent nature of an instrument each time it is used under the same state with the same subjects. It is important to note that the several issues that may serve as a threat to reliability of this research includes participant error and human error

VALIDITY
According to Walliman (2000) the term validity simply means the strength of the research which includes its propositions and conclusions. It involves some threat that can threaten the validity of the research which includes internal validity threat, instrumental threat, maturity validity threat and external validity threats

LIMITATIONS OF THE RESEARCH

In process of conducting this research a lot of factors acted as a limitation to the research and this has gone a long way in terms of affecting the credibility and reliability of the research. Stated below are some of the limitations encountered in the process of conducting this research and they include the following: The study failed to investigate the factors that affect the customers using internet banking in other banks in Nigeria and only concentrated in First Bank Nigeria plc; based on this fact the

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research can be criticized based on the fact that it failed to represent the wider view of the views of all the customers. The random sampling type used in the process of conducting this research cannot be used for statistical generalization of the research results because its responses are chosen randomly from different customers of First Bank Nigeria plc It can also be said that the time used in conducting this research was not enough to be able to gather enough information relating to this research The funds available to the researcher was inadequate and this made it difficult to employ the use of other methods of collecting data such as interviews or the ability o reach a large audience It can also be said that a large number of the respondents were young people which attributed to the fact that most accessible demographic group in terms of possible respondents were students. This is because of the fact that the most effective advertising options was targeted at students; this to a large extent however limit the variety of results and thus the value of the scope of the findings

ETHICAL ISSUES
According Churchill (1995) the term ethics implies the moral principles and values that govern the way an individual or group conducts its activities. Some of the ethics observed in the process of conducting this research includes the following: The respondents of the questionnaires briefed about the purpose of the research At the same time the respondents was not by any means forced or persuaded to participate in the research without their individual consent
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The participants in this research was never in any way induced to do things which could destroy their self esteem or self determination In the process of conducting this research all publications and materials and materials used was quoted and references systematically The research results was used ethically for the benefit of the organization with complete confidentiality and informed consent of respective authorities At the same time it is also important to note that the participant right to privacy was respected and at the same time their anonymity and confidentiality was also guaranteed and maintained in the process of conducting this research

CONCLUSION OF THE RESEARCH METHODOLOGY

Having evaluated the methods and strategies employed in carrying out this research; it can be said that that the research made use of primary research in terms of getting its firsthand information from the customers of First Bank Nigeria plc. This was achieved with the use of 100 questionnaires that was distributed among the banks customers in its headquarters in Lagos Nigeria. It can also be said that in terms of the sampling methods; the probability sampling was employed and among this sampling method the random and the stratified sampling was used in the process of conducting this research. The random and stratified sampling was also adopted; and the main reason for adopting a random sampling is because of the fact that the number of questionnaires distributed among First Bank Nigeria plc employees is less than 500 in number. On the other hand the stratified sampling was also used to reduce sampling error by allowing the researchers to identify the relevant stratums and their representations within the population. A quantitative approach have

45

been used in the process of conducting this study and the various concepts that was raised earlier in the introduction and literature review acted as a guide to data collection. The choice of a quantitative approach is due to the fact that the concepts being investigated in this study have already been dealt with before hence this research is not seeking to build up a theory as would be the case with a qualitative approach. It can also be said that another reason for using questionnaire is because of the fact that the intended participants in study have been more disposed to completing questionnaires for a few minutes than taking part in an interview which will be the case if a qualitative research method is adopted

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CHAPTER FOUR FINDINGS OF THE RESEARCH

Stated below are the findings of the research and they include the following:

PURPOSE
The purpose of this chapter is be able to find out the factors to affects customers of First Bank Nigeria plc as relates to the introduction of internet banking system into the organization.

FINDINGS
The findings of this research is based on the 89 questionnaires that was completed and returned by First Bank Nigeria plc customers out of 100 questionnaires distributed in their headquarters in Lagos Nigeria 1.Gender of Respondents

In terms of the gender of respondents Out of the 89 completed questionnaires that was returned by the customers of First Bank Nigeria plc; 55% of the respondents are Male whereas 45% of the respondents are Female. This simply means that the number of men that make use of internet banking are more than their femal counterpats. As a result of this it can be argued that the main counterparts are more concerned about their transactions and the movement if their finances when compared to their female counterparts.
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2. Age Bracket of Respondents

In terms of the age brackets of the respondents it can be said that the younger generations ranging from the age of 18 to 25 years of age are the ones that really makes use of the internet banking system. Judging from the findings of this research 25 customers of First bank Nigeria plc within the ages of 18 to 25 particpated in completing the questionnaire followed by 20 customers within the ages of 26 and 35 yrs of age. On the other 15 customers within the ages of 36 and 45 partcipated in the research; 19 customers within the ages of 46 and 55 participated in completing the research whereas 10 customers within the ages of 56 yrs and above also participated in completing the questionnaire. This simply means that the people who normally use the internet banking within the Nigerian banking system are mainly the younger gernerations within the ages of 18 and 25 yrs. It can be said to be as a result of the fact that they are the interent generation who continues to learn about the new ways of doing things online when compared to the older genration.

3. Status of Respondence

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Among the respondents to the questionnaire 29 single customers of First bank Nigeria plc participated in the research; on the other hand 25 customers of the bank that participated in the research are married. At the same time 20 respondents to the research who are also customers of the bank are 20 in number whereas 15 customers are widowed. This simply implies that the single people which includes the young generation within the ages of 18 and 25 yrs of age continue to be the ones spearheading the issues of interent banking within the organisation. It can also be said that another reason why the single customers are still more in number when compared other individuals may be as a reault of the fact that they have lesser commitments when compared to their married counterparts. 4. Level of Education of the Respondents

Among the number respondents that participated in the process of conducting the research; the number of customers with tertiary education is more in number when compard to the customers with secondary or no education at all. This simply means that education is very important for
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customers who want to use the internet banking system. It is also important to note that the number of people with tertiary education are more of the young people within the ages of 18 and 25 years of age. It can be said that education is one f the factors that was has affected customers using the internet banking in First bank Nigeria plc 5. Average Monthly Income of the Respondents (Equivalent in Pounds)

Looking at the income level of the customers of First bank Nigeria plc it can be said that the number of people that earn less than 500 per month are more in number when compared to those that earn 2000 and above. This simply means that the customers of this bank are more of low income earners in terms of their monthly income. It is also important to consider the fact that the research was conducted on a Nigerian bank where the customers work and earn their wages and salaries on the local currencies.

6. How Would You Describe your Knowledge of Computer

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Among the respondents to the questionnaire which are the customers of First bank Nigeria plc; majority of the respondents are good with prior experience of computer. At the same time it can also be said that a reasonable number of customers of the bank have a very good knowledge of computer together with a reasonable number of customers having fairly good knowledge of computer. This simply means that the awareness on computer literacy within th country has continued to gather momentum on a daily basis among the customers of First bank Nigeria plc. 7. How often do you use the internet

In terms of how often the customers of First bank Nigeria plc makes use of the internet banking; it is important to note that the majority of the customers uses the internet on a weekly basis. This is followed by customers that uses the internet on a daily basis and on a monthly basis. The figure above represents an idea of how often the customers of the bank makes use of the internet banking; and this means that the people makes use of the internet baking system

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more on a weekly and daily basis when compare to other people that use the internet banking on montrhly and yearly basis. 8. How Easy is it for you to navigate the internet

In terms of the bank website majority of the customers thinks is easy to navigate in terms of its internet banking system. On the other hand reasonable number of the respondents thinks that is fairly easy to navigate through the website of First bank Nigeria plc when compared to other banks website in Nigeria. This simply means that the organisation are currently doing very well in in its informatrion technology system but on the other hand needs to improve in its interent banking system in order to be able to compete with its counterparts in the developed economies of the world

9. Are you Aware that your Bank offers Internet Services

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It is also interesting to see that among the customers of First bank Nigeria plc the number of people who are not aware of the banks internet services are more in number when compared to the number of customers who are aware of the internet services offered by the bank. This simply means that the bank needs to go into more awareness programs in terms of promoting its business and the services it offers to its customers. It is belived that the ability of the bank to create awareness of its services will lead to a situation where almost all of its customers are aware of the services they offer within their organisation. 10. Do You Use Internet Banking

At the same time looking at the number of First bank customers that use internet banking within the organisation; it can be said that the number of customers who makes use of the internet banking within the organisation are less in number when compared to the number of customers who does make use of the internet banking within the organisation. This simply
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means that the organisation needs to create more awareness by promoting the services it offers to its customers. 11. Reasons for Not Using the Interent Banking

Looking at the reasons on why the customers of First bank Nigeria plc shy away from using the internet banking system; it can be said that one of the major reasons for this is the inability of the organisation to offer security in terms of its customers. Others includes inadequate knwledege about the use of internet, unreliable internet access, the need for face interaction and difficulty in navigating the site. This simply means that the organisation should try as much as possible to restore trust on the part of its customers in terms of its interent banking system.

12. Facilities used by Customers

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In terms of the facilities the customers of First bank Nigeria plc use within the organisation; it can be said that majority of the customers uses the internet banking system mainly for balance inquiry and funds transfer. Whereas as on the other hand othe customers uses the internet banking for bill payment and loan application. This simply means that the main reason why the customers of the bank use internet banking is for the main objective of inquiring about their balance

13.Factors affecting the use of Internet banking

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Factors Accessibilty Reluctance

Issues Internet access and internet connection speed Willingness to adopt technology enhancement Level of awareness of current trends Attitudes towards change

Ratings 20 2

Costs

Cost of computers Cost of Internet connection

Trust in ones Bank

Banks reliability in correcting erroneous transactions Trust in the bank to compensate for losses due to secuirty Infringements Banks response rate to queries

Security Concerns

Clear and understandable instructions Security of internet transactions Length of internet experience

29

Convenience Ease of Use

Time saving & convenient way of doing bank transactions Ease of performing internet banking transactions Ease of navigation in the bank websites

15 15

Among the factors that affect internet banking in the Nigeria banking industry it can be said that the issue of security in terms of the security of internet transactions, length of internet experience and lear understanding instructions of the websit continue to be the main factor affecting the use of internet banking in Nigeria banking institutions. Apart from that internet banking is also faced with the issue of accessiblity problems such as issues with its accesseibility and interenet speed. On the other other hand one of the major factors affecting the use of internet banking among the customers is for the fact that the system is easy to use
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when compared to the traditional way of banking togther with the convenience it provides for the customers.

CONCLUSION OF THE FINDINGS

Having examined the topic under investigation , it can be said that the factors that affect customers of First bank Nigeria plc in terms internet banking can be said to be as result of the secuirty concerns, accessibility of the organisation websites, convenience of the system, ease of use, the costs involved in using the internet banking, reluctance and the trust the customers have on the institution.

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CHAPTER FIVE DISCUSSION OF THE FINDINGS

Stated below are the full discussion and analysis of the findings and it includes the following stated below:

PURPOSE
The main objective of this chapter is to discuss the findings of the research and at the same time critically analyze its implications to the research

DIFFFERENCES IN DEMOGRAPHIC FEATURES

Among the group of people that makes use of the internet banking it can be said that the main users of internet banking within the organization are the younger generation within the ages of 18 and 25 years of age. This simply means that this generation of users is the internet generation that is always busy researching one or two things on the internet. Another reason for the large number of young people that makes use of the internet banking can be said to be as a result of the fact that most of them are presently undergraduates or graduates in different institutions of study. The availability of internet facilities in their different institutions of study or workplaces makes it possible for them to be able to have access to the use of internet banking. It is also important to note that this research is in accordance with Howcroft et al (2002) study on differences in demographic features in which they revealed that younger customers value convenience or time saving potential of online and mobile banking more than the older customers. It also concluded that the younger customer regard the lack of face-to-face contact as less important than older consumers. But it is also important to note that this research beg to differ in the area of education in which they stated that the educational levels or qualifications
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of the customers did not affect the use of internet banking within the organization. This research to a large extent believes that the educational levels of the customers affects the use of internet banking services among the customers. As a result of this the research is in agreement with Sarel and Marmorstein (2003a, b) study in which they stated that household income and education has a significant effect on the adoption of internet banking within organisations. In terms of this research when the number of customers that makes use of the internet banking are been compared with the number of people who dont make use the service; it was revealed that the number of people that makes use of the internet banking facilities are less in number when compared to the number of who dont make use of the service. As a result of this the research is in agreement that the organization should invest more resources into promoting and educating its customers on the importance and the benefits of using the internet banking system in transacting their individual businesses. This is in accordance with the views of Sathye (1999) in which they stated that the organization should spend more resources in terms of organizing and workshops for their customers on the need and importance associated with internet banking when transacting their individual businesses.

THE ISSUE OF TRUST & SECURITY ON INTERNET BANKING

One of the main factors affecting internet banking is the issue of trust and security in terms of its ability to secure and preserve the personal information of the customers. The issue trust and the security of the website when compared with other factors that affects the internet banking system such as problems of accessibility and navigation of the websites; it can be said that the customers emphasized more on the issue of trust than other factors. This simply implies that opportunities from implementing internet banking or Web technologies could be restricted if there is a lack of customer trust in the Web system.

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This research is in accordance with the views of Hoy and Tarter (2004) in which they sated that the other should try and restore trust and confidence on its customers by implementing customer protection laws within its organization. It can be said that one of the most frequent attributes of trust is based on the fact that trust is a psychological state comprising the intention to accept vulnerability based upon expectations of the intention or behaviour of another under conditions of risk and interdependence (Van and Sniezek, 2005). This simply means that the term trust is a psychological state in terms of beliefs and positive expectations with positive or non negative outcomes that requires the consent of other members and developed under uncertain, risk and interdependence (Rousseau, 1998; Bhattacharya et al., 1998). The research also came up with the conclusions that the organisation should try and take the necessary steps that will help in restoring the confidence of the customers in terms of using the internet banking facilities. This opinion is in agreement with the views and suggestions of Moorman et al (2003) in which they stated that the ability of the organization to guarantee the trust of the customer will help to restore and guarantee the confidence and trust of the customers in the internet banking system of the organisation. As a result of this for organisation hoping to compete favourably within its industry; its internet banking system must be built in such a way that it guarantees the trust and confidence of its customers this is believe will help the organisation to stand out in its business activities and at the same time help them to achieve their objectives.

The research came to the realisation of the fact that internet banking in the Nigerian banking sector is faced with the issue of trust and security. This is understandable considering the fact that the Nigerian banking industry is a sector that is still at its development stages faced with a lot of irregularities and improper ways of doing things within the organisation. As a result of
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this the strong concern of the security of the internet banking system is one common factor related to unwillingness to use internet channels for commerce (Black et al, 2001). The main reason why the customers are not interested in using the internet banking can be said to be as a result of the security breaches on internet banking system which can bring about numerous problems ranging from disruption of information access and destruction of operating systems. This is in accordance with the views of Black et al (2001) in which he stated that poor security system on the internet banking system brings about lack of trust on the part of the customers and at the same time increases the level of risk in terms of using the Web for financial transactions. At the same time it is important to note that reputation is important, as distrust of the service provider is a related factor. One of the major ways of restoring the confidence of the customer is the ability of the organisation to build a good reputation among its customers; this is believed will help in restoring the confidence of the customers and at the same time go a long way in terms of encouraging them to make use of the internet banking services within the organisation. This is accordance with the survey carried by Jarvenpaa et al (2002) in which they stated that the reputation of banking institutions such as first bank Nigeria plc goes a long way in terms of assuring the safety of the customers; at the same time it helps to restore confidence on the customers and at the same time guarantee the honesty and integrity of the organisation. As a result of this for organisations such as First Bank Nigeria plc to function effectively within its business environment must be able to have experience in business functions, policy and at the same time be able to support the personnel to build reputation as a competent technology-based service provider for the organisation. The advantages of building of building a good reputation are numerous and they include the fact that it brings more customers to the organisation and helps them to compete effectively
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within its sector. This view is in agreement with the views of Aladwani (2002) in which he stated that a good reputation helps organisations to gain the trust of their customers and is said to be one of the major factors that affect customer adoption of new technology-based service delivery. It can also be said that reputation depends largely on policy promises to customers which includes privacy policy as most do not like their personal information revealed in an inappropriate manner or misused by others over the internet (Turban et al., 2002).

PRIOR KNOWLEDGE OF COMPUTER AND ITS EFFECT ON INTERNET BANKING

From the findings of the research it can be seen that a good number of the customers have a prior knowledge of the computer; and again judging from the number of people using the internet banking which is lesser when compared to the amount of people who do not make use of internet banking facilities. The significance of this is the fact that prior knowledge of computer does make huge different in terms of the use of internet banking by the customers. It is important to note that this research is in disagreement with the views of Karjaluoto et al (2002) in which they stated that prior know of computers and technological equipments goes a long way in terms of influencing the both the attitudes towards online banking and actual behaviours. According to their study prior knowledge or experience of computer have an important and significant impact in terms of the ability to use the internet banking system within the banking industry. Apart from the fact that it helps the use of internet banking system it also have a positive effect on both attitudes and satisfied customers tend to keep up with their current delivery channel. The research concluded that the main reason why the customers are dissatisfied with internet banking is for the fact that it takes a lot of time transacts any business activities, is not convenient for the customers and is an old fashion way of banking. This research is in
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accordance with the views of Joseph and Stone (2003) in which they stated that the traditional way of banking involves a slow speed of service in branches; and some of the opening hours of the branches are sometimes inconvenient for the customers. At the same time it can also be said that some of the branches are very small and the staff within this organisation lacks the necessary manners in terms of attending to a customers. The general attitudes of customers towards the use of internet banking is based on the fact that they are faster way of transacting business activities within the bank, is cheaper and more service-oriented when compared to the traditional way of banking.

EASE OF USE & HOW IT AFFECTS THE ADOPTION OF INTERENT BANKING

In terms on how easy it is to carry out internet banking activities in the organization website; it can be said that the website of First bank Nigeria plc was better in terms of accessibility when compared to that of other banks within the country. As a result of this the number of people that make use of internet banking within the organization has increased tremendously in recent years when compared to 5 years ago when internet banking was newly introduced into the organization. This is in agreement with the views of Durkin (2004) in which he stated that the bank have experienced a tremendous improvement in terms of its accessibility; this is because of the fact that the organizational website can be accessed on a day basis including weekends. At the same time internet banking system transactions are executed and confirmed almost immediately; and it allows the customers of the bank to do virtually everything ranging from checking of an account balance to applying for a mortgage.

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IMPLICATIONS FOR FUTURE RESEARCH

The model developed in this research needs to be tested both qualitatively and quantitatively; and as a result of this an online questionnaire can be developed which can be distributed to a larger number of First bank Nigeria customers and employees within the organization in order to examine the efficacy of the model. As a result of this the views of the managers and employees of the bank needs to be put into consideration and this can be achieved through a

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combined use of interviews and distribution of large questionnaires which can be conducted with the managers, employees and customers of the bank in Nigeria. Finally a key element in the development of internet banking system in the Nigeria banking industry will be to conduct a further research with the use of a larger sample size that will discuss the issue the factors that influence the trust towards online vendor within the Nigeria banking industry; there may be more factors; so it would be appropriate to extend this study by developing a more extensive model of internet banking

CONCLUSION
Having examined the factors that affects customers in terms of internet banking; it can be said that some of the factors include the problem of accessibility, security, lack of trust on the organisation internet banking system and the cost involved in terms of using the services offered by the bank. The term internet banking can be said to offer a lot of advantages to the customers when compared with the traditional banking methods. And some of these advantages
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can be said to include the fact that internet banking saves the time of the customer. This is because internet banking helps the customer to be able to access its individual accounts without the need of visiting the branch physically. It can also be said that this system of banking is convenient for the customers because of the fact that an individual account can be paid and funds transferred without the need of queuing at the bank or writing cheques. At the same time the use of internet banking can also be criticised because of the fact that the use of internet banking has certain systems requirements such as accessibility to computers, memory, screen resolution and browsers, which prove to be an additional cost to the customer when compared to the traditional banking methods or other online banking services such as the use of automated teller machines. In a country like Nigeria majority of First Bank Nigeria plc have no access to their own personal computers and the use of the public computers involves an additional cost to their limited available resources. At the same time it can be said that the main users of internet banking within the organization are the younger generation. And it can be said to be as a result of the fact that a large number of young people makes use of the internet banking while in their different academic institutions and their workplaces. It can also be said that the younger customers value convenience or time saving potential of online and mobile banking more than the older customers. In the Nigerian banking industry the number of people that makes use of internet banking is smaller when compared to the numbers of people who dont make use of internet. This is said to be as a result of the fact that most of the customers are not aware of the internet banking facilities offered by the bank. As a result of this the bank should try and invest more resources into promoting and educating its customers on the importance and the benefits of using the internet banking system in transacting their individual businesses.

66

One of the main factors affecting internet banking is the issue of trust and security in terms of its ability to secure and preserve the personal information of the customers. As a result of this the organization should try and protect their websites and their internet banking facilities within its organization in such a way that it will encourage more customers to use the system. This is because of the fact that one of the most frequent attributes of trust is based on the fact that trust is a psychological state comprising the intention to accept vulnerability based upon expectations of the intention or behaviour of another under conditions of risk and interdependence. The organisation should try and do everything within its power to be able to restore the confidence of its customers in terms of using the internet banking facilities. This is because of the fact that the ability of ability to guarantee the trust of the customer will help to restore and guarantee the confidence and trust of the customers in the internet banking system of the organisation. As a result of this for organisation hoping to compete favourably within its industry; its internet banking system must be built in such a way that it guarantees the trust and confidence of its customers this is believe will help the organisation to stand out in its business activities and at the same time help them to achieve their objectives. And one of the ways the organisation will use in restoring the confidence of the customers is by building a good reputation among its customers; this is believed will help in restoring the confidence of the customers and at the same time go a long way in terms of encouraging them to make use of the internet banking services within the organisation. It can also be said that a prior knowledge of computer does not really make any significant difference in terms of the ability of the customer to make use of the internet banking services within the organisation. At the same time it is important to note that the main reason for customer dissatisfaction with the traditional way of banking is because of the fact that it takes a lot of time transacts any business activities, is not convenient for the customers and is an old
67

fashion way of banking. The internet banking services of the organisation is better in terms of its accessibility and as a result of this the number of people that make use of internet banking within the organization has increased tremendously in recent years.

RECOMMENDATION
The recommendations of this study have been directed towards the organisation, the Nigeria banking industry as a whole, the government and the website developers. This is done in order for them to try and contribute their individual or group quota towards the growth and development of internet banking system within the country. Stated below are the recommendations for this study and they include the following:

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This study strongly recommends that the software developers and engineers should try and develop more user friendly software that is accessible and easy for those with lack of internet expertise to navigate through. The research believes that the ability of the developer to come up with a website that is easily accessible to the users and non users of internet banking system; it will go a long way in terms of encouraging more into the use of internet banking within the financial institution in which they operate.

At the same time it is also important to note that the complexity of internet banking system might be reduced by adopting short of the technical adequacies of the website. This include appropriate information, easy of navigation, security, personalization and loading speed of the internet

The research also recommends that the government should try and assume for roles in terms of creating awareness of internet banking to the people within the country. This will be achieved by focusing on the benefits and advantages derived from the use of internet banking within the organisation in which the customer operates.

At the same time those policies that will protect the consumers privacy rights of the customers need to be passed into law; in order to help ensure that the information and right of the customers are been protected within the organisation

At the same time organisations such as First bank Nigeria plc should try and create awareness on its internet banking services to its customers by focussing on the importance and the benefits of the system. In terms of innovation attributes such as complexity, compatibility and relative advantages the organisation should try and concentrate on factors that enhance aspects of each one of the attributes.

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The banking industry in Nigeria should also try to implement policies that will be aimed at restoring the trust of the customers thereby rendering a solution to the issue of security in terms of internet banking. This should be achieved through an over hauling of the banking industry in order to maintain stability, transparency and accountability within the banking sector

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