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The term generations X and Y refers to the offspring of the hitherto ‘’baby boomers’’ supposedly of the older generations (Cohen 2009). What has become apparent is the usage of technology and innovative products among them. While the baby boomers settles for what have been available and what they are used to for ages, the new generations love varieties (Bartlett 2004). Unfortunately, researches have not been conducted within the Nigerian context in these areas and the influences of these younger generations have largely gone unnoticed for ages. However, few researches in this field, in the wider African context have been centered mostly on organizations and wealthy individual, this paper adds to the body of literature as well as to the extant body of knowledge.
Included in this research paper are the demographics of these users and the extent of adoption as well as factors responsible for usage and non-usage of internet banking services by these generations. Moreover, the paper briefly provides a descriptive analysis of the generations X and Y setting out the similarities and differences. It also discusses the Nigerian banking sector and the objectives of the research. Furthermore, it describes the methodology utilized for the study and the analysis of the results from the data gathered and finalizes with limitations and future research directions.
Introduction of Internet System in Nigeria
According to IWS (2007), internet journey to Nigeria started in 1995 at a workshop organized by UNESCO. However, the deregulation of the telecommunication sector heralded the wide acceptance of the internet and its limited adoption by various individuals and businesses (see Table 1). Despite the high level of awareness created through the electronic and print media for the adoption of the internet, Ezeoha (2005) stressed that factors such as poor infrastructures and low levels of education served as barriers to its continued use. Other researchers have also stressed the importance of the internet and its creation of employment opportunities through the operation of internet cyber cafés by individuals and organizations in Nigeria. Unfortunately, some internet cyber cafés have, however, become avenues and forum for the transmission of ill-gotten emails which are used to solicit for money and others from the international community. These outlets and other related areas have jointly placed the country in the bad books of the international community.
Table 1. | Year | Users | Population | %Pen | Source |
| 2000 | 200,000 | 142,895,600 | 0.1% | ITU |
| 2006 | 5,000,000 | 159,404,137 | 3.1% | ITU |
| 2009 | 23,982,200 | 149,229,090 | 16.1% | ITU |