T. A. NGEREBO-A,Ph.D
DEPARTMENT OF BANKING AND FINANCE,
RIVERS STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY,
SUNDAY C. NWITE
DEPARTMENT OF BANKING AND FINANCE
EBONYI STATE UNIVERSITY – ABAKALIKI
Electronic payment of salaries to staff is a new development in the country. Electronic payment is a process of making payments online through the use of ATM, Debit cards, credit cards, electronic cheque conversion. Electronic payment of salaries was introduced so as to monitor ghost workers among the civil servants, to prevent unnecessary expenses the workers experience such as collection of bribes from them by their accountant just to pay their salaries etc. It also gives them SMS Alert on their phones when their account has been credited. This work wants to evaluate electronic payment of salaries of staff, the problems and prospects. It was concluded that through the use of electronic mode of payment, it has brought about an improvement to the banking practices an this has reduced a whole lot of indiscipline and moral vices that do occur among the Nigerian civil servants. Recommendations was made that the government should put in more effort in providing infrastructures that will aid the use of electronic payment in paying salaries and also allow them to receive their salaries on time. Keywords
Electronic payment, Internet Banking, ATM, Debit card, Technology awareness, EFT.
TYPE OF PAPER-RESEARCH PAPER
Over the years, governments in Nigeria have raised alarms on their escalating salaries bills, even in the face of embargos on employment. A freezing of employment does not mean that stagnated salary bill, because the existing staff must be promoted, and this will imply increase in salary bill.
Electronic payment is an innovation introduced in the banking world so as to improve their payment system and also to allow them receive their salaries earlier than it was before.
Electronic payment is a process of withdrawing of fund through electronical method such as the use of ATM, Debit card, pay by phone system, electronic cheque conversion so as to make withdrawal of money easier. This was actually introduced so as to reduce the level of corruption in the civil service world such as fraud, bribes from staffs and to bring about growth in the economy.
Electronic mode of payment is also been used to provide security for them in the payment of their salaries since the pin number of their cards is known only by them so they are more secured and can withdraw there money any time even at weekends easily.
The problems they may encounter is fraud from the fraudsters or due to their inability of knowing how to make use of the machine thereby bringing about problems for the civil servants. This research work will be geared towards these problems and prospects of E-Payment to Nigerian Civil Servants.
THE CONCEPT OF ELECTRONIC PAYMENT AS IT HAS BEEN DEFINED
Electronic payment is a process or method of being paid or receiving payment through electronic means or electronic technology, through the use of cards or codes which will enable you access your account at any time.
Electronic payments is also the process of being paid or make payment through online means such as the use of Automated Teller Machine, Debit Cards, pay by Phone transactions etc (Toshio, 1987)
Electronic payment is any method of non-cash payment that doesn’t involve a paper check/cheque.
HISTORICAL DEVELOPMENT OF ELECTRONIC BANKING
Electronically – base payment systems have been in operations since 1960s’ and have been rapidly as well as growing in complexity. However, in most of the major financial transaction in various countries, an inverse relationship exists between the volume and number of transaction handled electronically....