Electronic Accounting System and Financial Performance of Quoted Deposit Money Banks in Nigeria
Abstract
This study aimed to determine the association between the listed Deposit Money Banks (DMBs) in Nigeria from 2011 to 2020 and their financial performance using an electronic accounting system. This study employed an explanatory and descriptive research design. Both primary and secondary data were used in the study, and they were gathered through surveys, one-on-one interviews, and annual reports. Automated Teller Machines (ATM) and Point of Sale (POS) were used to measure the electronic accounting system's independent variable, while Return on Asset was used to measure the dependent variable, financial performance. (ROA). The results of this study showed that the return on assets of listed banks in Nigeria is significantly positively correlated with automated teller machines (ATM) and point of sales (POS). The study concluded that adopting an electronic accounting system significantly improved the financial performance of Nigeria's deposit money banks, as banks are more profitable the more engaged their clients are with their electronic transactions. The report suggests, among other things, that deposit money banks step up their efforts to deploy more ATM delivery locations and improve their functionality
