An Appraisal Of The Economic Implication Of Electronic Banking In Operations Of Banks In Nigeria (a Case Study Of First Bank Of Nigeria Plc)

INTRODUCTION1.1 BACKGROUND OF THE STUDY Prior to the banking emergence of a modern banking system in Nigeria, the payment or settlement of economic transaction was through the barter system. Goods and services purchased them were settled by the exchange of commodities as money was not in existence. However, owing to the deficiencies inherent or associated with a barter economy, the need for a generally acceptable medium of payment arose. Consequently, between 1850 and 1882 the introduction of British silver coins was possible through which the Nigerian economy was monetized. Following the intr…