An Analysis of Job Loss and Information and Communication Technology Adoption in the Nigerian Banking Sector
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This study empirically examines the relationship between information and communication technology (ICT) adoption in the Nigerian Banking industry and the number of job losses in the sector, using Zenith Bank Plc as a case study. The research design adopted for the study is a survey research design. The main instrument used was questionnaire. The questionnaire was used to elicit information (dataset), which was analyzed using both descriptive and analytical techniques. Analytically, the Chi-square method was used in testing the single null hypothesis of no correlation between ICT adoption and job losses in the banking industry in Nigeria. The finding reveals that the majority of the respondents strongly agreed that ICT adoption has a significant effect on job losses in the Nigerian banking system, which culminate with the Chi- Square results, which indicates rejection of the null hypothesis because the probability value was greater than 5% level of significance, equally, the calculated Chi-Square was greater than the critical value at 5% level of significance. Therefore, the study recommends among others, that the banks should see staffers as being complementary to the ICT innovation, and not substitute. Also, Government should increase and improve on the dilapidated infrastructures to reduce overhead costs and enable the banks to operate efficiently without an undue cost-cut strategy that could attract downsizing in the industry.