CHAPTER ONE
1.0Â INTRODUCTION
Banking in Nigeria was carried out devoid of any electronic devices until the middle of 1980s. The operations of bank were mostly manual and fraught with attendant problem of poor services delivery. The era of new generation bank brought into the banking industry competition and need to provide quality services to the banking public. This brought about the need for some form of automated system. Kyari (2002), acknowledged this fact when he admitted that banks began to invest in computer for basic office in automation and processing, and then later extended to provision of banking services. This era also brought about massive installation of computer system and the introduction of the first set of electronic banking system devices such as automated teller, machine (ATM) to the banking public with the establishment of more bank in the early 1990s that led to the integration of banking system and ledger bank were replaced by computing system. The growing need for better services made it mandatory for banking to develop faster settlements among banks that lead to the funding of Nigerian inter-settlement scheme- granting owned by banks. The central bank in response to this also began the computerization of its system and processes. The introduction of the Magnetic Ink Character- Recording (MICR) check in the number of days it takes to clear a cheque through the Nigerian banking system. The Magnetic Ink Character Recording (MICR) was yet to be very successful through by middle of 1990s, most banks had introduced some forms of automation or computerization in their operation. Before financial globalization become popular, financial liberalization efficiency in the financial sector, many African countries embarked on financial liberalization reforms as part of their recommend.
