Pandemic Disruptions and Strategic Choices Available to Deposit Money Banks in Rivers State
Keywords:
Pandemic, strategic choices, remote work structure, COVID19, protocols, digital bankAbstract
The study examines various disruption caused by COVID-19 Pandemic in the Nigerian banking industry with basic focus on work structure, alteration of social and physical interaction of humans, downturn in banking performances. The study is premised on the assumptions of rational Choice Theory by Adam (1776).The study reveals digital and online strategic choices available to Nigeria banks, remote work pattern adopted by the banks. The study concluded that COVID 19 has indeed disrupted a lot of operational activities in the Nigeria banking sector hence, the following recommendations were made Nigeria banks should make remote and virtual work structure a culture, owing to its advantageous stance and for the fact that the world has been globalized into a village ,in digitalizing the entire banking activities and online banking operations, banks should at regular interval educate its customers and create more awareness on how to ensure cyber security, while also ensuring cyber safety of its online platform and to further create and motivate wide involvement of customers in retail and online banking, banks should reduce excessive charges on retail and digital banking as this can discourage customers in subscribing to internet banking.
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