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ABSTRACT
The study examines the impact of information technology on the performance of the Nigerian banking industry. In order to achieve the objective of the study, data was collected from both primary and secondary sources such as the CBN statistical bulletin and annual reports of banks. The study employed a panel regression model given that the data were cross-sectional and time-series in nature. The cross-section-random effect model was used as the estimating parameter. The data for the study was regressed and analyzed with the aid of Eview 8.0 econometric software package. The findings of the study showed that information technology expenditure has a positive relationship with bank’s performance and profitability among others. Investment in IT facilities improves operational efficiency and effectiveness which enhances bank’s performance and profitability. Based on the findings of the study we recommended that banks should continue to utilize and upgrade their information technology architecture for efficient and effective service delivery. Furthermore, we also recommended among others, that banks should embark on effective customer education in the use of electronic channels so as to minimize incidence of fraud in the banking industry.
