Cyber Innovation and Accounting Systems of Selected Money Deposit Banks in Nigeria
Every economy perceives the banking sector as an outlet for the quick economic growth of other sectors. Therefore, the government should prioritize its growth and stability. From the usage of tallies and registers to advanced technologies, Investigating the effect of cyber innovation on the accounting systems of a few Nigerian money deposit banks was the goal of this study. The study adopted a survey research design. The population of this study comprises of 10,000 employees of five selected banks. The sample size of this study was 135 respondents. Primary data obtained through the administration of structured questionnaire was used for the analysis. Purposive sampling technique was adopted. Descriptive and Inferential analysis were done with the aid of SPSS to test the effect of the independent variable on the dependent variable. The study discovered that Cyber innovations have a significant effect on inventory control systems in money deposit banks (β1 = 0.096, β2 = 0.262, β3 = 0.216, p-value = 0.000). Cyber innovations have a significant effect on sales management systems in money deposit banks (β1 = 0.086, β2 = 0.074, β3 = 0.275, p-value = 0.000). and Cyber innovations have a significant effect on management reporting systems in money deposit banks (β1 = 0.268, β2 = 0.118, β3 = 0.239, p-value = 0.000). The study concluded that cyber innovations have a significant effect on the performance of money deposit banks in Nigeria, with blockchain technology and online banking playing key roles in enhancing inventory control, sales management, and financial reporting systems.
Index Terms– Accounting System, Advance Technologies, Blockchain Technology, Cyber Innovations, Economic Growth.
