It is instructive that most of the laws in the Laws of the Federal Republic of Nigeria (LFRN) 201... more It is instructive that most of the laws in the Laws of the Federal Republic of Nigeria (LFRN) 2010 are made without giving due regard to the emergence and fast development of Information and Communications Technology (ICT) in the country. This is so because the LFRN 2010 is virtually a replica of the Laws of the Federation of Nigeria (LFN) 2004. This informs the reason why banking laws and those laws related thereto in the LFRN 2010 are not fully e-compliant, save for the Central Bank of Nigeria (CBN) Act and Nigeria Deposit Insurance Corporation (NDIC) Act which were amended in 2006 and CBN Act further amended in 2007. The laws generally need to be reviewed to incorporate ICT so as not to be isolated in the global trend. The paper analyses the various laws in order that they are made to be e-compliant.
Journal for Studies in Management and Planning, 2015
A key factor in the administration of justice in England (from where Nigeria legal system is sour... more A key factor in the administration of justice in England (from where Nigeria legal system is sourced) was the Lord Chancellor, whose function was amongst others, issuing of royal writs used to commence every action at common law. The rule was that a plaintiff had no cause of action unless his claim came within the scope of an existing writ. By issuing new writs and varying existing ones, the Chancellor was able to influence the development of the common law; though, the influence was limited because even if a plaintiff acquired a writ to fit his claim, the writ could be declared invalid by a common law judge. However, this conservative attitude of the common law judges was subsequently alleviated. A plaintiff who could not obtain redress owing to lack of a remedy or failure to administer it could petition the King in Council praying that the King might exercise his wide discretionary power to do justice among his subjects. The Chancellor, as the King’s chief minister, was dealing wi...
Journal for Studies in Management and Planning, 2015
E-banking presents benefits such as online banking and elongated banking hours to customers. Thes... more E-banking presents benefits such as online banking and elongated banking hours to customers. These benefits provide comfort, convenience and ease of use for bank transactions. Before the advent of e-banking, customers could only make transactions from a bank’s brick and mortar branch offices. E-banking has facilitated the integration of the functions of some large banks that have several branches around the country on a centralised network so that transactions can be carried out at any branch on the network without the customer being physically present in the branch. Nevertheless, e-banking like any other human activities is fraught with different challenges as well as prospects. The paper discussed the challenges and prospects of e-banking in Nigeria using the data gathered through the administration of questionnaires in Sokoto metropolis.
The advent of information technology has brought about enormous changes, challenging how organiza... more The advent of information technology has brought about enormous changes, challenging how organizations are structured and how businesses are run.
The need to co-operate, “to work together”, is as old as humanity itself. For without it, any for... more The need to co-operate, “to work together”, is as old as humanity itself. For without it, any form of civilisation however primitive would be impossible.
The relationship subsisting between banker and customer is basically contractual and fundamentall... more The relationship subsisting between banker and customer is basically contractual and fundamentally that of debtor and creditor. It also consists of general and special contracts arising from the particular requirements of the banking business. As such, the relationship existing between banker and customer cannot be exhausted. This is so as new banking services and products are emerging continuously. Therefore, the services rendered or products sold by bank to its customer would always determine what relationship subsists between banker and customer at any point in time. Every type of contractual relationship naturally imposes some rights and duties on the contractual parties; and this fact extends to banking relationship. The relationship exacts a number of obligations on banker and customer as well as corresponding rights on the banker and the customer respectively. In view of this, the paper appraises the relationship that exists between banker and customer, analyzing the rights a...
It is instructive that most of the laws in the Laws of the Federal Republic of Nigeria (LFRN) 201... more It is instructive that most of the laws in the Laws of the Federal Republic of Nigeria (LFRN) 2010 are made without giving due regard to the emergence and fast development of Information and Communications Technology (ICT) in the country. This is so because the LFRN 2010 is virtually a replica of the Laws of the Federation of Nigeria (LFN) 2004. This informs the reason why banking laws and those laws related thereto in the LFRN 2010 are not fully e-compliant, save for the Central Bank of Nigeria (CBN) Act and Nigeria Deposit Insurance Corporation (NDIC) Act which were amended in 2006 and CBN Act further amended in 2007. The laws generally need to be reviewed to incorporate ICT so as not to be isolated in the global trend. The paper analyses the various laws in order that they are made to be e-compliant.
Journal for Studies in Management and Planning, 2015
A key factor in the administration of justice in England (from where Nigeria legal system is sour... more A key factor in the administration of justice in England (from where Nigeria legal system is sourced) was the Lord Chancellor, whose function was amongst others, issuing of royal writs used to commence every action at common law. The rule was that a plaintiff had no cause of action unless his claim came within the scope of an existing writ. By issuing new writs and varying existing ones, the Chancellor was able to influence the development of the common law; though, the influence was limited because even if a plaintiff acquired a writ to fit his claim, the writ could be declared invalid by a common law judge. However, this conservative attitude of the common law judges was subsequently alleviated. A plaintiff who could not obtain redress owing to lack of a remedy or failure to administer it could petition the King in Council praying that the King might exercise his wide discretionary power to do justice among his subjects. The Chancellor, as the King’s chief minister, was dealing wi...
Journal for Studies in Management and Planning, 2015
E-banking presents benefits such as online banking and elongated banking hours to customers. Thes... more E-banking presents benefits such as online banking and elongated banking hours to customers. These benefits provide comfort, convenience and ease of use for bank transactions. Before the advent of e-banking, customers could only make transactions from a bank’s brick and mortar branch offices. E-banking has facilitated the integration of the functions of some large banks that have several branches around the country on a centralised network so that transactions can be carried out at any branch on the network without the customer being physically present in the branch. Nevertheless, e-banking like any other human activities is fraught with different challenges as well as prospects. The paper discussed the challenges and prospects of e-banking in Nigeria using the data gathered through the administration of questionnaires in Sokoto metropolis.
The advent of information technology has brought about enormous changes, challenging how organiza... more The advent of information technology has brought about enormous changes, challenging how organizations are structured and how businesses are run.
The need to co-operate, “to work together”, is as old as humanity itself. For without it, any for... more The need to co-operate, “to work together”, is as old as humanity itself. For without it, any form of civilisation however primitive would be impossible.
The relationship subsisting between banker and customer is basically contractual and fundamentall... more The relationship subsisting between banker and customer is basically contractual and fundamentally that of debtor and creditor. It also consists of general and special contracts arising from the particular requirements of the banking business. As such, the relationship existing between banker and customer cannot be exhausted. This is so as new banking services and products are emerging continuously. Therefore, the services rendered or products sold by bank to its customer would always determine what relationship subsists between banker and customer at any point in time. Every type of contractual relationship naturally imposes some rights and duties on the contractual parties; and this fact extends to banking relationship. The relationship exacts a number of obligations on banker and customer as well as corresponding rights on the banker and the customer respectively. In view of this, the paper appraises the relationship that exists between banker and customer, analyzing the rights a...
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