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Bank Name: FCMB Bank

Account Type: Savings
Account number: 7749601025

Bank Name: Access Bank

Account Type: Current
Account number: 0107807602





In ancient days, human activities were relatively easy. The difficulties posed by nature were considerably simple and demanded the solution of relative simplicity. The compounded problems of man and his way to solve them necessitated the inventors of the machine i.e. the computer. Since the invention of the first machine, the world has experienced a tremendous degree of advancement in technology and one for the machine invented for solving complicated problems on the computer. With increasing frequency, it is recognized that an understanding of the computer how it influence accounting operations and it is benefits to every accounting student and intends to work this world of advancing technology cannot be overemphasized. Due to the recent intends in accounting operations and the complexity of these operations with the number of task to be performed constantly on the increase, to day’s accountants are left with no option other than to always device ways by which these increasing tasks could be processed, more speedily and accurately so that there will be no loss of information. With the advent of the computer, many organizations have computerized their accounting systems. An example for such an organization with a computerized accounting system is First Bank of Nigeria Plc.


The computer is known for its speed and accuracy in processing information, such speed and accuracy have been achieved manually or by any other device.

It is expected that a computerized baking system will facilitate the speed and accuracy of processing transactions of financial nature and also reduces customers wasting time.

This has been achieved by virtue of technology, other countries where customer service and general financial management have been computerized whether it can be established is yet to be confirmed.

The fact of the matter which the researcher intends to study is:

a)   Of what relevance is the computerization accounting system.

b)  Has there been a tremendous change in financial management and the entire systemsince the establishment of the computerization accounting system?

c) Though benefits abound, could there be a limitation of computerization in an organization accounting system? What could be done to change the present situation?

d)  Whether computerization has improved the level of fraud and other misappropriation of funds in the organization.


The need to minimized fraud and improve service to customers is one of the primary important today, due to the increasing number of new generation banks therefore, the main objectives of this study is to asses:

a) The effectiveness of financial control in a computerized environment

b)  Whether computerization has minimized the level of fraud and error in banking sectors.

c)  Whether computerization has improved the profitability performance of the organization.

d)   Whether it has increased speed in attending to customers’ needs and finally, the effort will be made to recommend feasible banking organizations.


In spite of numerous decrees, enactment and there has been an increase in the number of reported cases of all kinds of misappropriation of customer’s funds and properties in the public sectors. And this study will bring enlightenment and be of great benefit to the entire country at large, and the significance is as follows:

a)  The computer will serve as an eye-opener for organizations both private and public sectors, who have the intention of computerizing its accounting system, but yet to know the benefits attached to it.

b)  Through this study, the useful suggestions will be given out to the management on how to improve in their financial report.

c)   Performance of financial management and accountability with the view of improving it in the future will be assessed that can be of benefit to the government and will serve as a springboard for future used.



Thy hypothesis serves as the theoretical concepts on how the research result would appear, therefore, they are guided to the researcher in planning the course of inquiry in choosing the kind of data and examine the result of study simply put, and the hypothesis states the researcher’s expectation concerning the relationship between variables in the problem.

Null Hypothesis Denoted by:

Ho: Computerization has improved financial control management.

Alternative Hypothesis Donated by

Hi: Computerization has not made any impact on financial control management.


Though the entire banks in Nigeria are almost computerized, the study will specifically look at the case as relevant to the First Bank of Nigeria Plc. Kaduna state.

The research will also like to critically observe the impact of computerization on the customers wasting time during paying and withdrawal of cash or undergoing any transaction with the ATM machine with the First Bank of Nigeria Plc.


The history of the First Bank of Nigeria Plc dates back to 1984 when the Bank of British West Africa (First Bank of Nigeria Plc) opened its branch office in Lagos. First Bank of Nigeria Plc, leading financial institution in Nigeria with over a hundred years of Banking operation experience in the industry. It founded by a shipping magnate from Liverpool, Sir, Alfred Jones. It commenced operation as a small bank in the office of Elder Dumpster Company in Lagos and was incorporated as a limited liability company in London on the 31st March 1894 with head office in Liverpool. Under the corporate name of the Bank of British West Africa with a paid-up capital of 12,000 pounds sterling, it started a business after it had absorbed its predecessor, the Africa Banking Corporation in 1892. In 1896, a branch was opened in Accra, Gold Coast (Ghana) while another branch was established in Sierra-Leone in 1898. The third branch in Nigeria was opened in the old Calabar in 1900 and two years later, its services had extended to Northern Nigeria with its Northern regional Branch at Kaduna.
The branch has experienced phenomenal growth over the years with a share capital of 5.6 million nairas in 1980, which rose to 269 million nairas ( including a bonus reserve of 53.8 million nairas) in 1995 at 500 million nairas in 1998. the bank’s total assets currently stand at 59.82 billion nairas. At the commencement of operation in 1894, it has a staff of six (6) comprising of three (3) Europeans and three (3) Africans but today, the bank is virtually Nigerialized. In its determination to identify with the aspiration of the country, in its March toward National development, the bank has had to continually adjust its organization structure and corporate entity. It starts with West Africa countries, the bank was incorporated locally in 1969 to become the standard bank of Nigeria Limited.
This was in response to the dictate of companies decree of 1968 and thereafter, the participation of Nigerians in the management of the bank became a corporate policy. Further changes in the name of the bank were made in 1979 and 1992 to the First Bank of Nigeria Limited and also to First Bank of Nigeria Plc respectively. First Bank of Nigeria Plc, has diversified into a wide range of banking activities and services including, merchant and international banking.  Today, the bank boast of the magnificent head office in Lagos with a branch network of 291 as well as a large number of staffs and a diversified loan portfolio to various sector of the economy.


i)  Computer: This is defined as electronic machine that accepts data (in raw form) and instruction through special input and devices and after processing in its internal memory, produces a meaningful output and also computer can be defined according to the Oxford Dictionary as an electronic machine that can be supplied with a program and can store and recall information and perform various processes on it.

In addition to that, the computer is an electro-mechanic device which is capable of accepting data, processing data, and brings out result meaningful way.

ii)   Financial control: This is the regulation of the flow of money through the enterprise and in particular, with ensuring that cash is always available to pay the debt when falling due.

iii)   Accounting is the act of recording, classifying, selecting, measuring, interpreting and communicating financial data of an organization to enable user make assessment and decisions, is also a discipline which comprises of a set of theories and concept for processing financial data into information. Accounting records in monetary terms the flow of economic valve within or between economic entities.

An accountant must not only be interested in record keeping alone but in the application of his professional competence or knowledge and skill in present accounting information to assist management in decision making.

iv)  System: It means the method of unifying personal activities, machines, and materials to accomplish the objective of the enterprises.

v)  Data: These are raw facts and figures that are not correctly being used in a decision process and they usually take the form of historical records that are recorded and filled without immediate intent to reference for decision making.

vi)    Bank: According to the encyclopedia of the banking and finance, the terms “Bank” in its broadcast senses may be applied to any organization engaged in any or all of the various function of “Bank” i.e. receiving, collecting transferring, paying, lending, investing, dealing, exchange and servicing (safekeeping of deposits custodianship agency, trusteeship) of money and claim both domestically and internationally.

vii)  Management: can be defined as coordination of all the resources through planning, organizing and controlling so as to achieve organizational goals. And also can be defined as an effective and efficient utilization of both human and material resources to achieve the desired goal and objective in the organization.

viii)  Effective: This refers to the success or otherwise in achieving objectives. It is therefore concerned only with output usually; the objectives of the organization would be specified in more detail so that the measure of effectiveness is more useful. The specification is; there will always be capacity for interpretation, as with efficiency, effective is most important thing about financial management, is that the degree of effectiveness says nothing about how much was spend to achieve it either the project services, may have cost what was budgeted or twice what was budgeted or more than what it should have cost.

ix)   Evaluation is the act of considering something to decide how useful or valuable it is, or a document in which this is done.