INFORMATION TECHNOLOGY AND THE PERFORMANCE OF THE NIGERIAN STOCK EXCHANGE

CHAPTER ONE

INTRODUCTION

1.1. Background of the study

The use of computer in business transaction is growing day by day and it is widely use. It is common in most part of the country and the world itself is becoming a global village. Information technology most especially in the area of computer and communication network has incorporated in most all aspect of business activities today. It has been found to be effective, efficient, fast and reliable.

Computers are fast and also easier to use that is why organizations have adopted the use of computers in business transaction. Nigerian stock exchange adopted the use of information technology by using computer in their day to day transaction, they also use internet in carrying out their transaction by communication with stakeholders globally.

 The internet is basically a vast and ever increasing network of computers across the globe that is interconnected over existing telecommunication network. That is, it is a network or networks. World over the term of world internet has become a household thing. It is a mega tool in the world of information technology that has shattered the defensive barrier of time, space and language thereby compressing the world into a global village the services of the internet include electronic commerce, electronics banking, electronic library etc.

The Nigerian Stock exchange was incorporated in 1960 as the Lagos Exchange in December 1977, it becomes Nigerian Stock Exchange with branches established in some of the major commercial used of this technology in their day to day transaction because of the increase of customers, these technologies make their work fast and easier to operate.

Although, a lot has been done by organizations and companies in the field of information technology adequate attention has not been paid on the performance of Nigerian Stock Exchange in Yola Zonal Office to determine the impact of information technology and its implementation in business transaction towards enhancing service delivery. Some of these problems are inadequate information technology facilities like the need for more vaster internet portal to be procured and install to make it adequate. The present situation in which the offices have linked to Lagos to participate in trading everyday do not means well for the general progress of the exchange.

 The research therefore aimed at taking a closer look at some of these facilities, its performance in business transaction and implementation in enhancing services delivery.

1.2. STATEMENT OF THE PROBLEM

Computerization is a world phenomenon and is now taken for granted as an indispensable companion in financial structure of any independent and dependent organization. In Nigeria as a whole it is merely about Thirty-nine (39) years old one may wonder without computer as they have been doing before.