Internet is one of the world’s most interesting and greatest achievements in the last millennium. The Internet was born in the 1960’s by the United State Defence and the Advanced Project Research Agency (APRA), which interconnected their Local Area Networks to form ARPA net. This was an attempt to maximize the advantages of the new computer networking technology. With the success of the ARPAnet, the United State’ National Science Foundation (NSF) equipped five universities with supercomputer and interconnected them. These five universities became points of service centers for neighboring University LANs. The resulting network was called NSFnet.


Finally, the NSFnet was hooked unto the APPAnet using already existing telecommunication networks where possible. The computer networking technology was not limited to America, countries in Europe and Asia also connected their universities and research center LANs forming national networks which they interconnected with the ARPanet to form the information super highways today called Internet. The size of Internet is still increasing linking hundreds of nations, thousands of computers and millions of people. Today, Internet has become an indispensable tool for communication, education, research, entertainment and public relations. Presently, various government, universities, private organizations, computer science and engineering associations, manage and maintain Internet.




Internet can be seen as a measure of interconnectivity and inter-relation of millions of computers all over the world for the basic purpose of information exchange. Each computer so connected maintains its own position of the Internet. In other words, Internet could be taken to mean scheduling every aspect in transactions into a whole whereby message sent and received are regulated. All the computers that are built in an Internet operate common language or prototype as standard in order that a free flow communication (between sender and receiver) is enhanced, the difference in hardware or software not with standing. The benefits in an Internet to all disciplines according to Adeola (2006) are in its facilitator of globalization process. To this effect, Internet in banking is the gateway to effective buying and selling globally of financial services considering the intensive knowledge and opportunity available. Here Internet banking, educates, persuades and guides financial analyst to effective decisions relative to limited available resources.


Contributing Igbinosa (2003) agrees that effective internet usage in organizations (including banking) is a necessity to overcoming competition and ultimately arrive at a success. He (Igbinosa) however added that internet usage in banking should be exercise with caution as a result of variety of risks surrounding networking performance and security in data; However, Mabbare (1999) is of the opinion that if benefits are to be derived in internet by banks, training of resources (human) in selected programme (e.g. electronic mail-Email and Worldwide Web-WWW) are very potent tool. This is because a broad knowledge of this programme will strategically position bankers in terms of accessing data and exchange information. It will also assists in making financial  budgets, forecasting and other services more interesting, attractive and less cumbersome.


Thus, this study believes that for the aims (especially quality service delivery) in effective internet banking services to be achieved, internet services that are affordable, reliable and accurate should be built. To Anyanwu (2000), adequate internet installations are prerequisite to bankers satisfying their customer’s needs and wants in terms of time, place and quality services. Similarly, he |(Anyanwu 2000) emphasized that internet services of banks to a very extent creates customers loyalty/patronage as well as sustain goodwill of banks products and services. At this, internet banking is continuously assessed as a working tool without which objectives of stakeholders may not be achieved especially in quality service delivery. However, the application of internet in banking operations or activities (as in selected banks in Lagos) needs a rationale decisions that could retain existing customers as well as win potential customers.