June 2025 Edition

INFORMATION COMMUNICATION TECHNOLOGY (ICT) AND PROFITABILITY OF DEPOSIT MONEY BANKS IN NIGERIA

AYO-OGUNLEYE, Tolulope T, OGUNLEYE, Ayodele O.

Abstract

The broad objective of this study is to examine whether there is any significant relationship between ICT and profitability of Deposit Money Banks in Nigeria. Secondary data was used in the study. Descriptive statistics, multiple line graph, correlation and regression analyses were used to analyse the data. The study used multiple regressions to identify the possible effects of the independent variables (Point of Sales, Automated Teller Machine, internet banking and mobile banking) on the dependent variable (Returns on Investments). The findings from the analyses have shown that mobile banking and ATM usage are significantly related to Deposit Money Banks (DMB) profitability. P-O-S usage and internet banking are not significantly related to profitability. Based on the findings of the study, the researcher recommends, among others, that ATMs capable of receiving cash should be deployed to various locations for easy accessibility; the federal government should subsidize or support the use of POS machines for the benefit of traders and customers; and provision of free Wi-Fi by the federal government should be ensured to enable the general public to access internet banking more easily.

Keywords

ICT, POS, Mobile Banking, ROA, ATM

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