An Assessment of the Impact of E-Banking on Nigeria’s Economic Growth, 2008 - 2018

Document Type: Original Research


1 Department of Banking & Finance, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria

2 Department of Business Administration, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria


This study assesses the impact of e-banking on Nigeria’s economic growth between 2008 and 2018. It examines the impact of Mobile transfer; Point of Sale (POS); and Automated Teller Machine (ATM) on economic growth. Expost-facto research design was adopted wherein data was generated from Central Bank of Nigeria’s (CBN) statistical bulletin for various years, 2008 - 2018. Augmented Dickey-Fuller Unit Root test statistic, error-correction mechanism, Heteroscedasticity Breusch-Pagan-Godfrey Test, and Durbin-watson tests were used to analyse the data. The result of analysis reveals that Mobile Transfer and Point of Sales (POS) have both negative and positive impacts on the Real Gross Domestic Product (RGDP) for different years; while the Automated Teller Machine (ATM) exhibited strong positive impact on the Real Gross Domestic Product (RGDP). The implication of these finding for stakeholders and researchers in the banking industry and national economy includes its exposition of prevailing factors hindering the impact of e-banking regime, the need for urgent policy to resolve them and pursue aggressive public awareness campaigns of e-banking.


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