EFFECT OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) ON CORPORATE PERFORMANCE

ABSTRACT

This study is undertaken in Ugbowo, Benin City. The research work focused on effect of information and communication technology on corporate performance in Nigeria. The objective of the study is to explore the role of ICT in enhancing operational efficiency and reducing costs,to evaluate the level of ICT adoption in the selected firms,to identify the challenges and barriers to successful ICT implementation in selected quoted banks. The study make use of survey research design, where structured questionnaires were distributed to 100 bank workers. Responses from the survey were analyzed using descriptive statistics with the aid of Social Sciences Statistical Package (SPSS) analytical tool. In analyzing the data,means and independent t-test statistics were used.The descriptive statistics revealed that ICT significantly affect the operational performance of the banks. This study has shed valuable light on the pivotal role of Information and Communication Technology (ICT) in enhancing corporate performance within the banking sector. The findings underscored the undeniable influence of ICT on operational efficiency, with a significant level of adoption among banks, highlighting the industry's recognition of its transformative potential.By fostering a culture of continuous learning and skill development, organizations can overcome the hurdle of inadequate expertise in ICT, ultimately enhancing their operational performance.