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International Journal of Business and Management
Vol. 7, No. 7; April 2012
Analysis of the Negative Effects of the Automated Teller Machine (ATM) as a Channel for Delivering Banking Services in Nigeria
Chinedu N. Ogbuji (Corresponding author) Department of marketing, University of Port Harcourt PMB 5323, Choba, Port Harcourt, Nigeria Tel: 234-80-3541-9583 E-mail: chiogbuji@yahoo.com
Chima B. Onuoha Adjunct Professor of Management, University of Uyo Uyo, Nigeria Tel: 234-80-3707-8654 E-mail: chimaonuoha@yahoo.com
Emeka E. Izogo Department of marketing, Ebonyi State University Abakaliki, Nigeria Tel: 234-70-3629-7276 Received: September 16, 2011 doi:10.5539/ijbm.v7n7p180 Abstract This paper titled, “Analysis of the negative effects of the automated teller machine (ATM) as a channel for delivering banking services electronically in Nigeria” proposed that the ATM system of delivering banking services not only contribute to the increasing rate of bank fraud but equally lures Nigerians into profligate expenditure. Using a sample of 600 respondents conveniently selected from two states of the federation (Lagos and Anambra), and analyzing the hypotheses formulated with chi-square, it was found that results were consistent with the propositions made. Against these backdrops, it was recommended that banks should; strive to increase their security layers to subvert the tricks of web scammers, limit the amount which customers may be allowed to withdraw at a time and provide electronic alerts to customers’ phone for all transactions carried out on their bank accounts through ATMs, cooperate instead of competing in stemming the ATM fraud menace and educate customers on the need to safeguard their PINs. Government was encouraged to; promulgate laws that will guide e-business including ATMs in Nigeria, provide employment, check the indiscriminate issuance of ATM cards by banks and so on. Customers were advised to; avoid replying unsolicited
International Journal of Business and Management
Vol. 7, No. 7; April 2012
Analysis of the Negative Effects of the Automated Teller Machine (ATM) as a Channel for Delivering Banking Services in Nigeria
Chinedu N. Ogbuji (Corresponding author) Department of marketing, University of Port Harcourt PMB 5323, Choba, Port Harcourt, Nigeria Tel: 234-80-3541-9583 E-mail: chiogbuji@yahoo.com
Chima B. Onuoha Adjunct Professor of Management, University of Uyo Uyo, Nigeria Tel: 234-80-3707-8654 E-mail: chimaonuoha@yahoo.com
Emeka E. Izogo Department of marketing, Ebonyi State University Abakaliki, Nigeria Tel: 234-70-3629-7276 Received: September 16, 2011 doi:10.5539/ijbm.v7n7p180 Abstract This paper titled, “Analysis of the negative effects of the automated teller machine (ATM) as a channel for delivering banking services electronically in Nigeria” proposed that the ATM system of delivering banking services not only contribute to the increasing rate of bank fraud but equally lures Nigerians into profligate expenditure. Using a sample of 600 respondents conveniently selected from two states of the federation (Lagos and Anambra), and analyzing the hypotheses formulated with chi-square, it was found that results were consistent with the propositions made. Against these backdrops, it was recommended that banks should; strive to increase their security layers to subvert the tricks of web scammers, limit the amount which customers may be allowed to withdraw at a time and provide electronic alerts to customers’ phone for all transactions carried out on their bank accounts through ATMs, cooperate instead of competing in stemming the ATM fraud menace and educate customers on the need to safeguard their PINs. Government was encouraged to; promulgate laws that will guide e-business including ATMs in Nigeria, provide employment, check the indiscriminate issuance of ATM cards by banks and so on. Customers were advised to; avoid replying unsolicited