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In the ancient days, human activities were relatively easy. The difficulties posted by nature then, were considerably simply and demanded solutions of man and his way to solve them necessitated the inventors of machines. Since the invention of the first machines, the world has experienced a tremendous degree of advancement in technology and ones for the machine invented for solving complicated problems in the computer. With increasing frequency, it is recognized that an understanding of the computer how it influences accounting operations and it’s benefits to every accounting students and intend to work this world of advancing technology cannot be over emphasized.

Due to the recent intends in accounting operations and the complexity of these operations with the number of task to be performed constantly on the increase, todays accountants are left with no option other than to always device ways by which these increasing tasks could be processed more speedily and accurately so that there will be no loss of information.
With the advert of computer many organizations have computerized their accounting systems, an example of such organization with computerized accounting system is FIRST BANK OF NIGERIA PLC.

In the last few decades, business activities have not only grown bigger and very much complex, but things happen even faster than expected, the combination of complexity, size and faster action and reaction generated a view for new management tools, especially tools for converting the large and complex volume of business data into useful and meaningful terms to assist management in decision making.

The processing of business data and the delivery of information using there machines is known as “AUTOMATIC DATA PROCESSING” OR “COMPUTERIZED OPERATIONS”.
The effectiveness of computer depends on the ability of the user. Inherently the computer has no creative ability than the screw-driver or any simple machine. The fundamental power is it’s ability absorb a mountain data, manipulate the data, and bring out the results in a summarized meaningful form, quickly accurately for management use.

The entire accounting and management function started in a manual form where the process of accounting data and information was provided in manual form by human beings. This system of providing information manually had it’s short comings later, the use of punched cards was introduced, which involves the use of electromechanically device for the processing of data. This method of processing was later replaced by computer which is made up of processing.

The computer is know for it’s speed and accuracy in processing information such speed and accuracy have not been achieved manually or by any other device. It is expected that a computerized banking system will facilitate the speed and accuracy of processing transactions of financial nature and also reduces customers waiting time.
This has been achieved by virtue of technology, other countries where customers services and general financial control have been computerized whether it can be established is yet to be confirmed.
The fact of the matter which the researcher intends to study are: –
– Of what relevance is computerization accounting system.
– Has there been a tremendous change in financial control and the entire system since the establishment of computerized system.
– Though benefits are bound could there be limitation of computerizing an organizations accounting system.
– What could be done to change the present situation data using electronic devices

Undoubtedly, the computer therefore, can be regarded as the most powerful management tool ever developed. Infact, it has become a tool for most managers who have learnt to use it. This can be seen from the fact that most of our banks, mainly profit oriented organization are operating computerized system now. Therefore, an understanding of the computer of the amount of time and of the step it takes to accomplish a task from the time the idea was taken up untill the final output has been received by the uses or accountant has made interface between accounting and the system and programming funding more meaningful to the accountant.

The need to minimized fraud and improve service to customers is very important today, due to the increasing numbers of new generation banks therefore, the objective of this study is to assess: –
(a) The effectiveness of financial control in a computerized environment.
(b) Whether computerization has minimized the level of fraud.
(c) Whether computerization has improve the profitability performance of the organization, and
(d) Whether it has increase speed in attending to customers needs
And finally, effort will be made to recommend feasible banking organization.

Hypothesis can be defined as an assumption or statement which may or may not be true concerning one or more population or organization e.g. FIRST BANK OF NIGERIA PLC.

Null hypothesis denoted by
Ho: Computerization has improved financial control.
Hi: Computerization has not made any impact in financial control.
Reference will be made in chapter four when analysis and presentation of data to this statement.

There are number of reasons why this research could be useful.
The reason are: –
(1) A study of a number of computer applications in accounting might have as a lesson for accountants about the reasons for success or failure in the development and implementation of the computer system.
(2) It will help financial institutions to anticipate some of the likely problems they might encounter with their computer system.
(3) A knowledge of the improvement of accounting system in financial institutions.
(4) The researcher is also convinced that the research would serve as an important material to provide a useful framework for further research on this topic.
(5) A more academic significance of this study is that it provides evidence to test some of the predictions that have been made about the impact of computer in accounting.

Though the entire banks in Nigeria are almost computerized, the study will specially look at the case as relevant to the FIRST BANK OF NIGERIA PLC Kaduna main branch.

The researcher will also like to critically observe the impact of computerization on the customers waiting time during paying and withdrawal of cash or under going any transactions with FIRST BANK OF NIGERIA PLC.

The history of First Bank of Nigeria Plc date back to 1984 when the bank of British West African (First Bank of Nigeria Plc) opened it’s branch office in Lagos.

First Bank of Nigeria Plc, leading financial institution in Nigeria with over hundred years of banking operation experienced in the industry. It was founded by a shipping magnate from Liverpool, Sir Alfred Jones.

It commenced operation as a small bank in the office of Elder Dumpster Company in London on the 31st March, 1894 with head office in Liverpool. The bank was originally incorporated as Bank of British West African in 1894 with an Authorized Share Capital of £100,000 divided into 10,000 ordinary shares of £10 each. Financial Control

First Bank was listed on the exchange in March 1971. In December 1896, a branch was opened in Accra Gold Coast (Ghana) while was established in Sierra-Leone in 1898. The second branch in Nigeria was opened in the old Calabar in 1900 and two years later. It services had extended to the Northern Nigeria with it Northern Regional Branch at Kaduna, the branch has experienced phenomenal growth over the years with a share capital of 55.6 million naira in 1980, which rose to 269 million naira (including a bonus reserve of 53.8 million naira) in 1995 of 500 million naira in 1998. The banks total assets currently stand at 59.82 billion naira. At the commencement of operation in 1984, it had a staff of six (6) comprising of three (3) Europeans and three (3) Africans. But today, the bank is virtually Nigerianised.

In it’s determination to identify with aspirations of the country, in it’s march towards national development, the bank has had to continually adjust it’s organizational structure and corporate entity. It started with West Africa countries, the bank was incorporated locally in 1969 to became Standard Bank of Nigeria Limited. This was in response to the dictate of companies decree of 1968 and thereafter, the participation of Nigerians in the management of the bank become a corporate policy. Further changes in the name of the bank were made in 1979 and 1992 to First Bank of Nigeria Limited and also to First Bank of Nigeria Plc respectively. Financial Control
FBN, has diversified into a wide range of banking activities and services including merchant and international banking.

In December 2005, First Bank acquired it’s merchant banking subsidiary, FBN (Merchant Bankers) Limited and MBC International Bank Plc, following Central Bank of Nigeria’s inspired consolidation in the banking industry. Today, the bank boast of magnificent Head Office in Lagos with a branch network of 300 with a large number of staff and a diversified loan portfolio to various sector of the economy. Financial Control


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