ABSTRACT
The Nigerian banking industry has undergone remarkable transformations due to rapid advancements in information technology (IT) tools, including Automated Teller Machines (ATMs), Point of Sale (POS) devices, mobile banking, and internet banking. This study delves into the complex interplay between these IT tools and the industry's performance, focusing on the years 2008 to 2022. The analysis employs a mixed-method approach, encompassing descriptive statistics, unit root tests, co-integration analysis, and Error Correction Models (ECM). Descriptive statistics of er initial insights into the central tendencies and variations of the variables. Unit root tests establish stationarity properties, laying the groundwork for cointegration analysis, which reveals long-term equilibrium relationships among the variables. The ECM sheds light on short-term dynamics and immediate impacts. The findings underscore the transformative influence of IT tools on the Nigerian banking industry. Mobile banking, POS transactions, ATM usage, and internet banking significantly impact performance metrics, exemplified by return on assets (ROA). The study's outcomes are consistent with prior research, emphasizing the positive connections between IT tools and banking performance. Conclusively, this analysis contributes to a deeper understanding of how IT tools shape the industry. The study recommends strategic integration, sustained innovation, customer empowerment, an enabling regulatory framework, collaboration, metrics monitoring, and a longitudinal vision. As the Nigerian banking landscape evolves, these insights of er valuable guidance for stakeholders to harness technology's potential and drive industry growth, ef iciency, and customer satisfaction.
