Michael Soneye Gbolade


This study assessed the extent of e-commerce usage for effective service delivery in Nigeria banking sector. Four research questions and four null hypotheses guided the study. Descriptive survey research design was adopted for the study. The study covered 64 microfinance banks in Oyo State, South-West, Nigeria. The population was made up of 1275 staffs from the 64 microfinance banks. The sample size consisted of 28 microfinance banks of which 280 staffs were purposively selected. A 28-item structured questionnaire was used as instrument for data collection. Four experts carried out the face and content validity of the instrument. The reliability was determined using Cronbach’s Alpha statistic Reliability Coefficient and reliability coefficient of 0.86 was obtained. The arithmetic mean and standard deviation were used to analyze data, answer research questions and determine the homogeneity or otherwise of the respondents’ means while ANOVA was used to test the null hypotheses at 0.05 level of significance. The findings revealed that microfinance banks in Oyo State have not use electronic payment cards as e-commerce delivery channels. They also use Internet marketing for product advertising and loan availability display; electronic fund transfer but have not been using it for online customers’ enlightment, online promotion of services and sending statements of account. It was recommended among other things, that management of microfinance banks should adopt most of the e-commerce delivery channel used by commercial banks in order to boost their standard of operation within the banking sector also, microfinance bank management should engage, encourage and sponsor their staff for re-training programmes to update their ICT knowledge, skills and competencies to effectively use the resources for quality customer service delivery.


Article visualizations:

Hit counter



usage, e-commerce, banking sector


Ahmad, B. D. (2005). The impact of E-banking on Customer Satisfactory in Nigeria, MPRA Paper No.23200, retrieved online at (accessed on 5 February, 2012)

Anyasi, F. I and Otubu, P. A. (2009). “Mobile Phone Technology in Banking System: “It’s Economic Effect”, Research Journal of Information Technology, 1 (1), 1-5.

Apulu, I. and Latham, A. (2009). “Information and Communication Technology Adoption: challenges for Nigerian SMEs” TMC Academic Journal, 4(2), 64-80.

Auta, M. E (2010). “E-banking in Development Economy: Empirical Evidence from Nigeria”. Journal of Applied Quantitative Methods Vol. 5(2), 212-222.

Ayo, C. K., Adewoye, J. O, and Oni A. A. (2011). “The Business-to-Consumer e-commerce in Nigeria: Prospects and Challenges”, African Journal of Business Management, Vol.5 (13), 5109-5117.

Ayo, C. K. Adewoye, J. O., and Oni, A. A. (2010). “The state of e-banking implementation in Nigeria: A Post-Consolidation Review”. Journal of Emergency Trends in Economics and Management Sciences, 1 (1), 37-45.

Basel Committee report on Banking Supervision (1998). “Risk Management for Electronic Banking and Electronic Money Activities”, Bank of International Settlements, Switzerland.

Baten, M.A and Kamil, A.A. (2010). “E-Banking of Economical Prospects in Bangledesh” Journal of internet Banking and Commerce, Vol.15 (2), 1-10.

Burr, W. (1996). “WieInformationtechnik Die Banlorganisation VerandernKonte”, Banki und Banks Market, Vol.11, 28-31.

Central Bank of Nigeria (2012). Revised regulatory and supervisory guidelines for Microfinance Banks in Nigeria.

Charity-Commission (2003), “Guidelines on Electronic banking”, accessed on 5th February, 2012 from

Chiemeke, S.C., Evwiekpaefe, A.E., and Chete, F.O. (2006), “The Adoption of Internet Banking in Nigeria: An Empirical Investigation”, Journal of internet Banking and Commerce Vol. 11,3.

Cloete, E. (2001), “SMEs in South Africa: Acceptance and Adoption of e-commerce Department of Information Systems, University of Cape Town.

Gupta, P. K. (2008). Internet banking in India: Consumer concern and Banking strategies, Global Journal of Business Research, Vol 2(1) 43-51.

Harrison, U. U. (2012). Adoption of E-commerce in the Nigeria banking Industry problems and prospect. Unpublished M.Sc. thesis, Nnamdi Azikwe University, Awka.

Information technology Association of America (2003). Creating Business Value through Information Technology Workforce Survey presented at the National IT workforce convocation. U.S.A.

Joze, K., Julie F., and Angela, S. (2002), “Electronic Commerce Benefit, Challenges and success Factors in the Australian Banking and Finance Industry”, Retrieved online on 5th February, 2012.

Kaliski, B.S. (2001). Encyclopedia of Business and Finance. Macmillan: U.S.A

Kamokadi, N. and Khan, B.A. (2008). “Looking Beyond Technology: A study of E-banking channel acceptance by Indian Customers”, International Journal of Electronic Banking 1 (1), 73-94

Kulkarni, R.V. (2000). Changing face of Banking to E-banking. IBA bulleting Vol 22.

Laudon, K and Laudon, J. (2007). “Management Information System: Managing the Digital Firm”, 10th Edition, Pearson, Prentice Hall.

Lee, C.S (2001). “An analytical framework for evaluating e-commerce Business Models and strategies”, Internet Research: Electronic Networking Applications and Policy, pp.349-359.

Madueme, I.S. (2010). “Evaluation of the Impact of Information Communication Technology an banking Efficiency Using the Transcendental Logarithmic production Function and Camel Rating” International Journal Of Engineering Science and Technology, Vol.2 (1), 1-6.

Ojeka,S.A. and Ikpefan, O.A. (2011). “Electronical Commerce, Automation and Online Banking in Nigeria: Challenges and Benefits”, School of Doctoral Studies (European Union) Journal, 2011, 39-50.

Oloyede, J.A., Azeez, B.A and Aluko, A.O (2015). E-commerce and E-banking in Nigeria. The International journal of management.

Oluwagbemi, O., Abah, J. and Achimugu, P. (2011). “The Impact of information Technology in Nigeria’s Banking Industry”, Journal of Computer Science and Engineering, Vol. 7 (2), 63-67

Ongori, H. (2009). “Role of Information Communication Technologies Adoption in SMEs: Evidence from Botswana, Research Journal of information Technology, 1(2), 79-85

Pohjola, M. (2002). “The New Economy: Facts, Impacts and Policies”, Information Economics and Policy, 14, 133-144

Rayport, J. and Jaworski, B. (2003). Introduction of E-commerce, 2nd Edition. McGraw-Hill: New York.

Salehi, M. and Alipour, M. (2010), “E-Banking in Emerging Economy: Empirical Evidence of Iran” International Journal of Economics and Finance, Vol.2 (1), 201-209.

Van Toorn, C., Bunker, D., Yee, K. and Smith, S. (2006). “The Barriers to the Adoption of E-commerce by Micro Business, Small Businesses and Medium Enterprises (online)

Zwass, V. (2003). Electronic Commerce and Organizational Innovation Prospects and Opportunities. International Journal of electronic commerce archive, Vol.7, (3)3, 7-37

Copyright (c) 2018 Michael Soneye Gbolade

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

The research works published in this journal are free to be accessed. They can be shared (copied and redistributed in any medium or format) and\or adapted (remixed, transformed, and built upon the material for any purpose, commercially and\or not commercially) under the following terms: attribution (appropriate credit must be given indicating original authors, research work name and publication name mentioning if changes were made) and without adding additional restrictions (without restricting others from doing anything the actual license permits). Authors retain the full copyright of their published research works and cannot revoke these freedoms as long as the license terms are followed.

Copyright © 2015 - 2018. European Journal Of Social Sciences Studies (ISSN 2501-8590) is a registered trademark of Open Access Publishing Group. All rights reserved.

This journal is a serial publication uniquely identified by an International Standard Serial Number (ISSN) serial number certificate issued by Romanian National Library. All the research works are uniquely identified by a CrossRef DOI digital object identifier supplied by indexing and repository platforms. All the research works published on this journal are meeting the Open Access Publishing requirements and standards formulated by Budapest Open Access Initiative (2002), the Bethesda Statement on Open Access Publishing (2003) and  Berlin Declaration on Open Access to Knowledge in the Sciences and Humanities (2003) and can be freely accessed, shared, modified, distributed and used in educational, commercial and non-commercial purposes under a Creative Commons Attribution 4.0 International License. Copyrights of the published research works are retained by authors.


Hit counter