TITLE:               

IMPACT OF FINANCIAL TECHNOLOGY ON THE DEVELOPMENT OF DEPOSIT MONEY BANKS IN NIGERIA (2010 -2022)

AUTHORS:   

Eneoli, Obinna ,Callistus.  Onwumere, J, U, J. Okwor, Emmanuel , E. Nwosu  Samuel, N.

DOI:  10.5110/77. 1417              Page:   152-172         Vol: 19    Issue: 05   Year: 2024

ABSTRACT

The study from 2010 to 2022, aimed to investigate how financial technology affected the growth of deposit money institutions in Nigeria. Financial technology value (POSV) serves as the explanatory variable, and the CPS to GDP ratio serves as a stand-in for development. Regarding digital activities in Nigerian financial institutions, the survey encompasses all individuals. The OLS regression model was used in the investigation. This study was chosen because other researchers have produced divergent and variant regression results by using various econometric approaches and variable selections. Methodology: Analytical and ex-post facto designs were employed. To make sure the parameters to be estimated were not deceptive, the unit root test, correlation test, and parameter stability test were used. Results: The analysis indicated that the development of a few chosen deposit money banks in Nigeria was positively and marginally impacted by financial technology. Recommendations: The inter play among these financial technological tools requires consistent support   in terms of infrastructural facilities from the government and other stake holders.

 Keywords:

Financial Technology, deposit money banks , co-integration. Causality, Financial institutions, growth rate 

Received: 06 May 2024

Accepted:  22 May 2024

Published: 30 May 2024