INVESTMENT IN INFORMATION TECHNOLOGY AND GROWTH OF BANKING SECTOR, A STRATEGY FOR SUSTAINABLE DEVELOPMENT IN AFRICA. EVIDENCE FROM NIGERIA
Abstract
This study appraised the investment in information technology and growth of Nigerian banking sector from 2014 to 2023. The objectives were to: ascertain the effect of investment in IT on the profit for the year of Nigerian banking sector; determine the effect of investment in IT on Nigerian banks Asset growth and investigate the effect of investment in IT on the equity of Nigerian banks. The study adopted ex-post facto design as historic data was adopted while regression analysis was used for the purpose of this study. It was discovered that investment in IT has significant effect on the profit for the year, return on assets and return on equity of Nigerian banking sector. The research recommended that Nigerian banks should continually invest in upgrading their IT infrastructure, including cloud computing, cybersecurity systems, and big data analytics, to ensure sustainable growth and operational efficiency. They should equally adopt a structured approach to regularly evaluate the effectiveness and return on investment (ROI) of their IT solutions to ensure alignment with organizational goals and improve decision-making. From the findings of the study, it is implied that IT investment is not just an operational necessity but a strategic tool for sustainable growth and competitiveness among banks. Also, digital transformation initiatives can serve as a key strategy for sustainable economic development in Nigeria and potentially across Africa.
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Banking, Growth, Information, Sector, TechnologyDownloads
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Copyright (c) 2025 Dimgba Uguru Kalu , Ezema, Clifford Anene. Ph.D
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