Trend of Investment in Information Technology and Financial Performance of Deposit Money Banks in Nigeria

The goal of this study was the determination of how the trend of information technology investment has influenced the financial performance of deposit money banks in Nigeria. The study utilized the longitudinal research design. Statistical bulletin of the CBN and financial reviews and accounts of selected banks for the period (2010-2023) was employed as the source of secondary data, being the post financial crises era and banking reform of 2009. The population for this work consists of 24 deposit money banks in Nigeria that have been authorized to conduct banking operations. During the study period, ten deposit money institutions which were in existence and which also have the required and complete data for the study were selected as a sample. The appropriate technique made use of for the purpose of this study was a purposive sampling technique. In analysing the trend of investment in IT in deposit money banks in Nigeria, this work mainly utilized descriptive statistics. This analysis was done with the aid of graph and bar charts for the aggregated values of IT investment for each year across the study period. The results showed that the trend of investment in information technology and performance of deposit money banks in Nigeria over the years has been fluctuating constantly, with return on asset dropping to a negative of 0.0024 in 2011 from a positive of 0.0279 in 2010.