Contact Us

For Marketing, Sales and Subscriptions Inquiries
Rockefeller Center, 45 Rockefeller Plaza
20th Flr Unit #5, New York, NY 10111
United States

Conference List

The Economics and Finance Letters

June 2018, Volume 5, 2, pp 46-57

Electronic Banking Innovations and Selected Banks Performance in Nigeria

Anthony Orji


Jonathan E. Ogbuabor


Asidok N. Okon


Onyinye I. Anthony-Orji

Anthony Orji 1 ,

Jonathan E. Ogbuabor 1 Asidok N. Okon 3
Onyinye I. Anthony-Orji 1 
  1. Department of Economics, University of Nigeria, Nsukka, Nigeria 1

  2. Department of Economics, University of Calabar, Nigeria 3

Pages: 46-57

DOI: 10.18488/journal.29.2018.52.46.57

Share :

Article History:

Received: 03 September, 2018
Revised: 08 October, 2018
Accepted: 01 November, 2018
Published: 06 December, 2018


In the past few years, Nigerian banks have embraced the global trend of digitalization in banking operations. Thus, after the consolidation and recapitalization exercises, many banks have strengthened and streamlined their facilities, tailored their services as well as automated their operations. In the heat of competition, banks are now adding to the stock of e-banking in order to maintain a competitive edge over their competitors. However, despite the rapid development in electronic banking innovations, it is not clear whether e-banking innovations have impacted positively and significantly on banks’ performance in Nigeria. The main objective of this paper therefore is to estimate the impact of e-banking innovations (ATM transactions, mobile banking transactions, and point of sales transactions) on the performance of six selected banks in Nigeria. The study adopts a SURE model in the quantitative analysis of six selected old and new generation banks. The results indicate that automated teller machine transactions, point of sale transactions, mobile banking transactions are major e-banking innovations that contribute to old and new banks’ performance in Nigeria. The study therefore concludes that the selected banks and other banks should intensify efforts to increase their asset base and continue to invest in e-banking innovations in order keep preforming well and also remain profitable. The study also calls for efficient management and utilization of funds to train and educate bank workers and general public regularly on how to deploy and use e-banking channels and other related technological innovations respectively.
Contribution/ Originality
This study is among the first in Nigeria to estimate the impact of e-banking innovations (ATM transactions, mobile banking transactions, and point of sales transactions) on the performance of six selected banks in Nigeria since after the consolidation and recapitalization exercise. Unlike other similar studies, the study adopts a SURE model in the quantitative analysis of six selected old and new generation banks.


Electronic, Banking, Innovations, ATM, POS,Performance , SURE Model.



Google Scholor ideas Microsoft Academic Search bing Google Scholor


This study received no specific financial support.

Competing Interests:

The authors declare that they have no competing interests.


All authors contributed equally to the conception and design of the study.

Related Article

( 1 ) Electronic Banking Innovations and Selected Banks Performance in Nigeria
( 2 ) Attributes Influencing Strategic Alignment in the Service Sector: An Indonesian Banking Sector Case Study
( 3 ) Market Share and Profitability Relationship: A Study of the Banking Sector in Nigeria
( 4 ) What Drives Banking Stability? Empirical Evidence from ECOWAS Countries
( 6 ) Depositors Confidence and Mergers and Acquisitions: The Nigerian Banking Sector Experience
( 7 ) Determinants of Banks Profitability & Liquidity and the Role of BASEL III in Islamic & Conventional Banking Sector of Pakistan: A Case Study of NBP
( 8 ) Consumers’ Behavioural Intention to Adopt Mobile Banking in Rural Sub-Saharan Africa Using an Extension of Technology Acceptance Model: Lessons from Zimbabwe
( 9 ) Financial Risks in Turkish Banking Industry: A Panel Data Analaysis on Istanbul Stock Exchange
( 10 ) Facing the Challenges of Covid-19 in the Egyptian Banking Sector: The Role of Bricoleurs in Achieving Organizational Innovations via Learning through Improvisation
( 11 ) Measuring and Assessing the State of Technological Innovations and the Level of Interaction between Rice Processors and Stakeholders in Rice Processing Industry in Nigeria
( 13 ) Innovations Dissemination Approaches among Government Co-Operative Supporting Organisations in Tanzania
( 15 ) The Effect of Selected Financial Ratios on Profitability: An Empirical Analysis of Listed Firms of Cement Sector in Saudi Arabia
( 16 ) Studying the Integration of Damascus Securities Exchange with Selected Stock Markets
( 18 ) Impact of Exchange Rate Fluctuation on Selected Economic Sectors of the Nigerian Economy
( 19 ) The Effect of Selected Factors on Tax Revenue Mobilization in Ethiopia: The Case of Amhara Region
( 20 ) The Impact of Economic Growth, Oil Price, and Financial Globalization Uncertainty on Financial Development: Evidence from Selected Leading African Countries
( 21 ) Change Management and Firm Performance of Selected Deposit Money Banks in Owerri, Imo State, Nigeria
( 22 ) Natural Resource Rents-Capital Flight Nexus in Selected ECOWAS Countries: Evidence from Non-Linear ARDL Approach
( 23 ) The Total Factor Productivity of Libyan Banks, 2004 – 2010
( 24 ) The Effects of Changes in Accounting Standards on Value Relevance of Financial Statement Information of Malaysia and Nigeria Banks
( 25 ) The Mediating Effect of Market Orientation on the Relationship between Entrepreneurial Orientation Dimensions and Organizational Performance: A Study on Banks in Libya
( 26 ) Measuring the Quality of Islamic Banks Services and Its Impact on Customers Satisfaction A Survey Study on the Islamic Banks Customers in Lattakia-Syria
( 27 ) Measuring Efficiency in Banks: A Brief Survey on Non – Parametric Technique (Data Envelopment Analysis)
( 28 ) Appointment of Directors and Performance of Deposit Money Banks in Sub Saharan Africa: Do We Need More Executive or Non-Executive Directors?
( 29 ) The Effect of Personal Factors on the Customer Rating of the Quality of Services of the Islamic Banks Operating in the Syrian Coast
( 30 ) Relevance of Stakeholders Theory, Organizational Identity Theory and Social Exchange Theory to Corporate Social Responsibility and Employees Performance in the Commercial Banks in Nigeria
( 31 ) Financial Tables Reports Gaps in Jordanian Islamic Banks
( 32 ) Effects of Corporate Social Responsibility on Banks Financial Performance in Nigeria: A Study of United Bank of Africa
( 34 ) The Effect of Internal and External Factors of Companies on Profitability and its Implications on Stock Price Index of State-Owned Banks
( 35 ) Sectoral Credit Allocation of Deposit Money Banks and Poverty Reduction in Nigeria
( 37 ) Analysis of Effect of Profitability, Capital, Risk Financing, the Sharia Supervisory Board and Capabilities Zakat in Islamic Perspective with Circular Approach Causastion on Islamic Banks in Indonesia
( 38 ) Analyzing the Financial Soundness of Kuwaiti Banks Using CAMELS Framework
( 39 ) Financial Inclusion and Poverty Alleviation: The Contribution of Commercial Banks in West Africa
( 40 ) Interest Rate Ceilings and Financial Exclusion in Kenya: Evidence from Commercial Banks’ Sectoral Credit Distribution
( 42 ) Factors Influencing Profitability of Commercial Banks in Tanzania: A Case Study of CRDB Bank Plc
( 43 ) On the OCC Announcement Allowing US Banks to Use Stablecoins and the Immediate Impact on Cryptocurrency Valuations
( 44 ) The Relationship Between Market Share and Profitability of Ghanaian Banks
( 45 ) Improved Performance Through Empowerment of Small Industry
( 46 ) Teachers Characteristics and Students’ Performance Level in Senior Secondary School Financial Accounting
( 47 ) Conceptual Framework of Green Infrastructure Performance Evaluation for Local Authority
( 48 ) The Association Between Corporate Risk Disclosure and Firm Performance in Emerging Country – The Case of Egypt
( 49 ) Moderating Effect of Demographics on Monetary Motivation and Employees Job Performance Relationship: Evidence from Malaysia
( 50 ) Stock Market Performance and Economic Growth: Evidence from Nigeria Employing Vector Error Correction Model Framework
( 51 ) The Influence of Information Technology and Communication Supply Chain Management Performance for Greater SME Manufacturing in Aguascalientes
( 52 ) Leveraging Telematics for Optimal Fleet Performance
( 53 ) Share Options, Share Award and Firm’s Performance: Evidence from Malaysian Public Listed Companies
( 54 ) The Effect of Outsourcing on Anglogold Ashanti Obuasi Mines Performance
( 56 ) The Investment Performance of Socially Responsible Investment in Japan
( 58 ) Emotional Workgroup Performance and Group Effectiveness Egyptian Context
( 59 ) The Indirect Impact of Overconfidence on the Performance of Tunisian Firms Through their Financing Structure
( 60 ) How the Principles of the Sharing Economy Can Improve Organizational Performance of the US Public School System
( 62 ) The Influence of Communication, Work Motivation and Career Development on Elementary School Teacher’s Job Performance in Medan, Indonesia
( 64 ) The Moderating Effect of Governance Mechanisms on the Relationship Between Innovation Strategy and the Performance
( 66 ) An Empirical Investigation into the Key Drivers of Economic Performance in the CEMAC Zone: A Panel Corrected Standard Errors Approach
( 67 ) The Impact of Organisational Culture on Public Sector Performance: A Case Study of Local Authorities in Zimbabwe
( 68 ) Gamification on Sales Force Performance in Nigeria Bottling Company
( 69 ) An Investigation of the Impact of Organisational Structure on Organisational Performance
( 70 ) Exploring the Asymmetric Linkage between Commodity Prices and Fiscal Performance in Nigeria
( 71 ) Effects of Socio-Cultural Diversity on the Performance of Private Health Care Organizations in Kogi State
( 72 ) Organizational Memory and Employee Performance in Federal Parastatals in Enugu State of Nigeria
( 73 ) The Effect of Corporate Social Responsibility Disclosure on Corporate Financial Performance
( 74 ) Value for Money (VFM) Audit and Public Sector Performance in Afikpo North Local Government Area of Ebonyi State, Nigeria
( 75 ) Determinant of MSMEs Performance and its Impact on Province GRDP in Indonesia
( 76 ) Determinants of Financial Performance and its Impact on the Growth of Islamic Bank Assets on Indonesia
( 77 ) Trade Union Performance and Industrial Relations Climate in the Nigerian Petroleum Sector
( 79 ) The Effect of Disruptive Factors on Inventory Control as a Mediator and Organizational Performance in Health Department of Punjab, Pakistan
( 80 ) The Contingent Fit between Management Control System and Capabilities on Sustainability Performance
( 81 ) The Impact of Merger and Acquisition on the Financial Performance of the Nasdaq Listed Small Size Technology Companies
( 82 ) Exchange Rate Fluctuations and the Performance of Nairobi Securities Exchange Market in Kenya During the Coronavirus Pandemic
( 83 ) Analysis of Demographic Factors on Perceptions of Inventory Managers towards Healthcare Performance
( 84 ) Sustainability Performance and Sustainable Development Goals
( 85 ) A Study on Financial Performance of Transport & Warehouses Firms Listed on the Hanoi Stock Exchange
( 86 ) IT Governance as Drivers of Dynamic Capabilities to Gain Corporate Performance Under the Effects of Environmental Dynamism
( 87 ) Does Buyer Power Contribute to Environmental Sustainability Performance in Supply Chains?
( 88 ) Relational Capabilities under Moderating and Mediating Effects to Understand their Impacts on Firm Financial Performance
( 89 ) Contemporary Approach to Enhanced Road Transport System in Nigeria Through the Application of It-Based (Online) Bus Ticketing and Payment System
( 90 ) Impact of Labour, Capital and Human Resources in Productivity of Transport Firms in Nigeria
( 91 ) The Impact of Investment Climate Reforms on the Development of Small and Medium Sized Enterprises in Nigeria: A Policy Brief
( 92 ) Gaining Trust After the Financial Crisis in the Nigerian Economy: A Conceptual Framework
( 93 ) An Enquiry into the Contributions of Microfinance Institutions Towards the Development of Small Scale Business in Nigeria
( 94 ) Exchange Rate Movements, Import And Economic Growth in Nigeria (1986-2010)
( 95 ) Challenges of Human Rights Abuses in Nigerian Democratic Governance – Which Way Forward ?
( 96 ) Public Infrastructure Spending and Economic Growth in Nigeria: An Error Correction Mechanism (ECM) Approach
( 97 ) Impact of Microfinance Lending On Economic Growth of Third world Nations: Study of Nigeria
( 98 ) Anti-Corruption Crusade in Nigeria: More Words Than Deeds
( 99 ) Social Security; A Public Policy for Good Governance in Nigeria: The Role of Nigerian Legislature
( 100 ) National Urban Development Policy and the Unanswered Development Question of Slum in Nigeria
( 101 ) Government Borrowing Behaviour: Implications for Private Sector Growth in Nigeria
( 102 ) Effective Tax Administration and Institutionalization of Accounting Systems in Small and Medium Scale Enterprises: Evidence from Nigeria
( 103 ) The Impact of Rice Production, Consumption and Importation in Nigeria: The Political Economy Perspectives
( 104 ) Good Governance, Rural Development and Poverty Alleviation in Nigeria: Issues and Challenges
( 105 ) Federalism and Planning in Nigeria
( 106 ) Structural Breaks and the Long-Run Stability of Demand for Real Broad Money Function in Nigeria: A Gregory-Hansen Approach
( 108 ) Rural Saving Mobilizations and Economic Development in Akamkpa Local Government Area of Cross River State - Nigeria
( 109 ) The Phenomenon of Money Politics and Nigeria’s Democratization: An Exploration of the Fourth Republic
( 110 ) Nigerian Politics, Economic Development, and the Role of Human Rights Organisations on Elections
( 112 ) Insecurity and Foreign Direct Investment in Nigeria
( 113 ) An Assessment of the Relationship between Budget Deficit Syndrome and Consumer Welfare in Nigeria (1985 – 2014)
( 114 ) Determinants of Share Price Movement in Nigeria -The Management Perspective
( 116 ) The Effect of Exchange Rate Changes on Consumer Prices in Nigeria: Evidence from VECM Model
( 117 ) Quality of Accounting Reporting After the IFRS Adoption in Nigeria
( 118 ) Structural Breaks, Electricity Generation and Economic Growth in Nigeria
( 119 ) Comparative Analysis of the Effectiveness of Coub-Douglas, Real Business Cycle, and Keynsian Growth Models in Determining Economic Growth in Nigeria
( 120 ) Implications of Crude Oil Price Volatility and Parallel Exchange Rate Fluctuation on the Cost of Living in Nigeria
( 121 ) National Security and Democratization in Nigeria: The Case of Insurgence
( 122 ) The Link Between Agricultural Budgetary Allocation and Economic Growth in Nigeria
( 125 ) Rural Roads Infrastructure and Agricultural Products Distribution: A Focus on Akure South Local Government Area, Ondo State, Nigeria
( 126 ) The Effects of Exchange Rate Variability on Trade Flows in Nigeria: A Cointegration Analysis
( 127 ) Military Regimes and Nigeria’s Economic Development, 1966-1999
( 128 ) Social Protection Programmes, Agricultural Production and Youth Employment in Nigeria: Analysis from LSMS-ISA
( 129 ) Entrepreneurial Networking and Women Entrepreneurs’ Contribution to Employment Creation in Rivers State, Nigeria
( 130 ) An Investigation of the Relationship between Manufacturing Output and Economic Growth : Evidence from Nigerias Data Set
( 131 ) Employee Loyalty and Organizational Citizenship Behaviour in the Port Harcourt Area Command of the Nigeria Police Force
( 132 ) Effect of Institutional Factors on Foreign Direct Investment in Nigeria
( 134 ) Macroeconomic Indicators and Capital Formation Growth in Nigeria: A New Evidence
( 135 ) Foreign Capital Inflows and Unemployment in Nigeria: A New Evidence from ARDL-Bounds Testing Approach
( 137 ) Disaggregated Foreign Capital Inflows and Economic Growth in a Developing Economy: Empirical Evidence from Nigeria
( 138 ) Urban Population Growth and Environmental Sustainability in Nigeria
( 140 ) Assessment of Dual Carriageway for Sustainable Socio-Economic Development in Ado Ekiti, Nigeria
( 141 ) Determinants of Public Sector Corruption in Nigeria
( 142 ) Exchange Rate and Foreign Reserves Interface: Empirical Evidence from Nigeria
( 143 ) Uncertainties in Global Economic Policy and Nigerias Export Earnings
( 144 ) Public Health Expenditure, Economic Growth and Health Outcomes in Nigeria
( 146 ) The Roles of Labour Union in Nigeria Industrial Harmony and Development
( 149 ) External Debt and Nigeria's Sovereignty
( 150 ) The Colonialists & Indigenous Exchange Currency: Tracing the Genesis of Socioeconomic Woes in Postcolonial Nigeria
( 151 ) Analysis of Environmental Factors Affecting Manufacturing Small and Medium-Size Enterprises in Kogi State Nigeria
( 152 ) The Impact of Military Spending on Economic Wellbeing in Nigeria
( 155 ) Incidence of Short Term Private Capital Outflow: Empirical Analysis in Nigeria
( 156 ) Determinants of Exchange Rate in Nigeria: A Comparison of the Official and Parallel Market Rates
( 157 ) Issues of Unemployment in Nigeria: Effect of Real Exchange Rate and Inflation Interaction
( 158 ) Fiscal Reaction Functions and Public Debt Sustainability in Nigeria: An Error Correction Mechanism Approach
( 160 ) Does External Borrowing Affect Economic Growth? A Revisit of the Age-Long Debate for Nigeria
( 161 ) Analysing the Financial Strength of Nigeria: An Approach to Estimate the Index of Financial Safety
( 163 ) Externality Effects of Sachet and Plastic Bottled Water Consumption on the Environment: Evidence from Benin City and Okada in Nigeria