Understanding consumers' adoption of mobile banking in Nigeria: an empirical investigation

This study investigates the factors influencing consumers' adoption of mobile banking in Nigeria using the innovation of diffusion theory. Data was collected via a five-point Likert questionnaire and analysed using factor analysis and multiple regression model. Revealed here is the fact that relative advantage, observability and complexity have positive effects on mobile banking adoption, while compatibility, trialability and perceived risk have a negative impact. On the basis of these findings, the study concludes that Nigerian bank customers have a reasonable amount of computer knowledge but are not willing to take any risks. Equally, as a greater percentage of respondents lack three years' or more mobile banking experience, the study concludes that mobile banking is not well accepted in Nigeria. While these conclusions are valid for this study, further research is recommended for longitudinal analyses to cover consumers' longer time making decisions on accepting mobile banking services.