J. OBAYAGBONA

The study empirically examined the impact of financial technology on performance of deposit money banks in Nigeria over the period 2009Q1 to 2024Q4. The specific objectives of the study were to find out whether automated teller machine (ATM), point of sales terminal (POS), internet banking (INTB) and mobile banking (MOB) have significant relationship with deposit money banks performance. The fully modified least squares method was used for the analysis of data, and the results obtained revealed that automated teller machine (ATM) had significant negative relationship with deposit money banks performance;
point of sales terminal (POS) had a weak negative relationship with DMBP; internet banking (INTB) had a significant positive impact on performance, and while mobile banking (MOB) has a weak positive relationship with deposit money banks performance in Nigeria. The study conclude that in the determination of deposit money banks performance in Nigeria, ATM, POS and
INTB are relevant financial technology factors to be considered because of their critical role in ensuring high level of performance of deposit money banks in Nigeria. The study recommends among others that, management should continue to ensure that more ATM stands or points where customers can easily withdraw money, especially those who in-hard-to reach areas should be provided. Regular and routine servicing and monitoring of these ATM machines must be carried out. These will go a long way to enhance overall banks’ performance in the country.

The investigation centered on the correlation amid official development assistance (ODAO), inflow of foreign remittances (FRO), and the economic advancement in Nigeria spanning from 1986 to 2022. To scrutinize the data, the autoregressive distributed lags (ARDL) methodology was employed. The outcomes generally revealed that, over the long term, official development assistance (ODAO) exhibits a weak positive link with Nigeria's economic growth. On the other hand, the inflow of foreign remittances (FRO) holds an inconsequential negative influence on the nation's economic expansion over the extended period. Furthermore, the factor of financial openness (FOPN) does not exert any discernible impact on growth. In the short term, the exchange rate (EXCHR) significantly demonstrates a negative effect on economic growth. In addition, past values of Gross Domestic Product (GDP) wield a more considerable influence on Nigerian economic growth in the short term compared to current values. One of the suggestions put forth by the study is that the insignificant adverse effect of outbound foreign remittances (FRO) on economic growth underscores its detrimental nature. This aspect has the potential to amplify domestic economic growth constraints, undermine local investments, and lead to a decline in overall tax revenue. Hence, it is imperative for policymakers and governmental bodies to actively pursue strategies that discourage the outflow of capital in the form of remittances. For instance, imposing limits on repatriating a portion of domestic earnings could alleviate financial constraints, invigorate domestic investments, and enhance tax inflow. By ardently pursuing such measures, the positive impact of FRO on Nigeria's economic growth can be effectively harnessed