Trust and Distrust Determinants of Mobile Banking Adoption in the Nigerian Banking Industry: A Study of First Bank Nigeria Limited

This study ascertains the trust and distrust determinants of mobile banking adoption in the Nigeria banking industry by specifically assessing the effect of perceived benefit, ease of usage, risk and monetary cost on customers’ intention to adopt mobile banking. To achieve these objectives, Technology Acceptance Theory was employed using a descriptive survey research design. Using a purposive sampling technique, three hundred and forty five (345) customers were selected and questionnaires distributed accordingly. Out of 345 questionnaires distributed, 325 were fully completed while 20 questionnaires were not fully completed and as a result were discarded. The reliability of the responses were checked using the Alpha Cronbach’s test. Data were analysed using descriptive statistic, Likert scale, Pearson correlation and probit regression model. The result reveals that perceived benefit and ease of usage significantly influence and determine the behavioural intention of customers to adopt mobile banking. The finding also discloses that perceived risk and monetary cost does not deter customers from adopting mobile banking. In view of the findings, banks should vehemently and continually advance the benefits of mobile banking to customers by providing a user guide which will contain abundant details on the benefits of mobile banking, especially on the logistic/transport fee associated with accessing the banking hall for customers that are far from branch location. Banks should put in more effort to improve the ease of usage by negotiating and dialoguing with software producers to design mobile banking applications that specifically meet the need of customers.