INTERNET-MEDIA STRATEGIES FOR PROMOTING ELECTRONIC BANKING IN NIGERIA

Abstract

This study examined internet media strategies for promoting electronic banking in Nigeria. It was occasioned by the incessant bank customers’ complaints against electronic banking operations in the country. The specific objectives were to: ascertain the level of spread of internet media tools amongst the Nigerian banking publics, and determine the effectiveness of the media networks as tools for motivating bank customers in Nigeria to accept the Internet banking culture. For the methodology, web surveys was adopted in gathering data and the data so gathered were presented in Likert’s 5-points scale and analysed with chi-square statistical tool. Results obtained show that the internet media tools and networks are significantly spread within the reach and use of bank customers in Nigeria (X2calculated = 247.08 > X2 critical =12.34; p = 0.001 < 0.05), and that the internet media networks are significantly effective as tools for motivating bank customers in Nigeria to accept the Internet banking culture (X2 calculated = 124.12> X2 critical =12.34; p = 0.000 < 0.05). Hence, it was recommended that for banks in the country to significantly improve their customers’ attraction and retention capacities, the must also improve their internet-banking services in the areas of its convenience, efficiency, security and reliability. They should also plug the loopholes for frauds in internet banking, online-banking and mobile banking services to the Nigerian publics in order to encourage the use of this new banking technology amongst the populace.