Impact of Cloud Accounting on Performance of Nigerian Banking Industry: a Study of Some Selected Banks in Nigeria

• Post by: deqe
• September 30, 2021
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This study investigates impact of cloud accounting on performance of Nigerian banking industry with particular references to GT Bank Plc., Zenith Bank Plc. and Access Bank Plc. Using annual data for the period 2008-2017, the study employed the Ordinary Least Square (OLS) technique to examine the effect of private cloud, community cloud, public cloud and hybrid cloud on profit after tax of Nigerian Banking sector. The result revealed that the study shows that private cloud has a significant effect on profit after tax of Nigerian Banking sector. It was also observed that community cloud influences profit after tax of Nigerian Banking sector. The study further shows that public cloud has significant effect on profit after tax of Nigerian Banking sector. It was equally observed that hybrid cloud has significant effect on profit after tax of Nigerian Banking sector. Based on the findings, the study recommends that the unreliability of power supply in the country needs to be taken seriously and resolved as soon as possible. This is because electricity is very essential especially in the running of data centers. There should be intensified awareness creation by cloud service providers geared at sensitizing the public on the benefits and risks of cloud adoption by organizations in Nigeria. More cloud service providers are needed in the country to encourage competition which will result to the driving down of the cost of its services. This would make the technology more appealing to organizations. Cloud providers in Nigeria should be able to provide free trials of their services to their targeted organizations at a stipulated period of time to encourage them to adopt the technology.

Keywords:  Cloud Accounting, Private Cloud, Community Cloud, Profit after Tax