In banking, the qualify of customer services plays a crucial role in the context of sustainable business growth. The relationship between a bank and its customers must be a permanent and enduring one, which needs to be maintained with good banking services. In this project, an attempt has been made to ascertain the level of satisfaction .of customers as regards banking services in Nigeria. It highlights the bank's marketing strategies. The satisfaction level of the customers has been measured and the varieties of new services which influence the satisfaction level of the customers have been analyzed, the level of customer services and satisfaction has been determined with the varieties of services provided by the banks in Nigeria.


Title page i

Certification ii

Dedication iii

Acknowledgement iv

Abstract v

Table of content vi


1.0 Introduction 1

1.1 Background of the study 1 – 2 

1.2 Justification of the study 2

1.3 Statement of the problem  2 – 3 

1.4 Research Question 3 

1.5 Objective of the study 3

1.6 Research Methodology 4 – 7 

1.7 Customers satisfaction research survey    7 – 8 

1.8 The scope of the study 8

1.9 Limitation of the study 8


2.0 Literature review 9

2.1 Customer satisfaction    9 – 11 

2.2 Banking services  11

2.3 Differences between goods and services 11

2.4 Quality Management planning    11 – 12 


3.0 Research methodology 13

3.1 Research design 13

3.2 Questionnaire design 14

3.3 Type of data used 14

3.4 Procedure for collection of data 14 

3.5 Instrument used in data collection 14 – 15 

3.6 Method of data analysis 15


4.0 Date presentation and analysis  16

4.1 Interpretation and Analysis of data 16 – 19 

4.2 Testing of hypothesis 20

4.3 Summary of findings    20


5.0 Summary, Conclusion and Recommendation 21

5.1 Summary 21

5.2 Conclusion 21 -22 

5.3 Recommendations 22

5.4 Suggestion for further research studies  23

References 24




The objective of this research work shows how the banking services increases customer satisfaction and also boost their patronage with particular reference to FIRST BANK OF NIGERIA PLC.

However, it is used to measured the level of customer satisfaction and services rendered in the banking industry in Nigeria. As a matter of fact, many banks subscribed to the high customer satisfaction will leads to greater customer loyalty which in turn, leads to both present and future revenue. For that purpose, many organizations that resulted by having superior service quality have been found to be market leaders in terms of turnover and long term customer loyalty and retention.

Some of the banks that have given their customers banking services have recorded tremendous success and has boosted their profitability and the number of customers who patronize them.

In the face of this, evolving bend confidence reformation and restoration efforts by individual banks has improved the banking services in order to satisfy the potential customers and entice others, bank customers have become cautions discriminating chooser and to a large sophisticated.

Banking operations are becoming increasingly, customer dictated. The demand for “banking super malls” offering one stop integrated financial services is well on the rise. The ability of banks to offer clients access to several market for different classes of financial instruments has become a valuable competitive edge. Convergence in the industry to cater for the changes of demographic expectations is now more than evident. Bank assurance and other forms of cross selling and strategic alliance will soon alter the business dynamics of banks and fuel the process of consolidation for increased scope of business and revenue. The thrust on farm sector, health sector, and services offers several and investment linkages. In short the domestic economy is an increasing pie which offers extensive economic of scale that only, large banks will be in a position to tap. With the phenomenal increase in the country’s population and the increased demand for banking services, speed and customers satisfaction are going to be key differentiators for each bank to get useful feedback on their actual response time and customer service aspect of retail banking, which in turn will help them take positive steps in maintaining a competitive edge. This exercise in the context of the banking industry will give us an insight into the parameters of customer satisfaction and their measurement. This vital information will help us to build satisfaction amongst the customer’s and customer loyalty in the long run which is an integral part of any business.


Some of the main problems faced by customers when it comes to banking hour which are too rigid and not flexible. Usually, most banks operating hours are from Monday to Friday and begins operation from 8.30 am – 4:30pm; or as the case may be prior to this period, Nigeria banks use to commence their services beginning from 10:am in the morning while closing is at 4:00pm from Monday to Friday, but due to consumers demand, the trends changed, when the banks begins their services and some hours earlier.

Despite the practice of beginning services half an hour earlier, some banks that are positioned in shopping malls and departmental stores open up for business. Besides the banking hours, other issue customers are facing is queuing up in Nigeria banks. Standing in line for a long time at the banks is non-productive and is also waste of time. As such, most banks now have development a way to address customers problem. A suggestion box placed at the foyer or entrance another one is opinion meter in some banks or a well – conducted survey is a good start to learn about customer’s needs. For the purpose of this research work, feedback from the survey revealed the reasons that led to customers satisfaction. It was demonstrated that in order to maintain the grip on customer, many banks have now set up suggestion and complaint avenues as hotline, 24 hours call services and online services, customer cares services department. At glance, the issues in relative to banking customer’s have seen various rapid changes in the past decades.

1.3 STATEMENT OF THE PROBLEM                                                          

The problem being carried out can be clearly seen as the effect of quality customer satisfaction on banking services in Nigeria. The problem will look into the area in which the banks in Nigeria, make use of relevant approaches that have been used for the measurement of customer satisfaction. It also discuss different views that have been developed in relation to the transferability of satisfaction measures across industries and outlines the research questions addressed in this investigation. One of the main problems faced by customers when it comes to banking is issue of banking hours, they are too rigid. But with the establishment of new generation banks in Nigeria and the regulation 

demanded by the Central Bank of Nigeria (CBN) which transformed some banks in Nigeria from arm chair banking which are very rampant for many years back.

1.4 RESEARCH QUESTION               

This area focused on questionnaire and procedure for data collection of this research work. Questionnaire can be defined as a means of obtaining, information on a number of issues such as the distributions of a group of people in terms of such factors as gender state, qualification, age, social economic status etc. It could serve to provide information for assessing certain situations such as the extent of availability of banking services and maximum satisfaction to customers by banks. It has two major types namely the fixed responses questionnaire and open end questionnaire, the most one type suitable for this research work is open end questionnaire. Open-end questionnaire is the one that asks questions which are pertinent to the topical issue and which will not give any response option for the respondents.


Hypothesis is a declarative statement subject to inferential testing. It is a proposition which states what we are looking for in other words, it is a conjectural statement of relationship between variables. It is sub divided into two: alternative hypothesis represented (Hi) and null hypothesis represented as (Ho)

1. Ho: There is no significant relationship between customer satisfaction and banking services in Nigeria 

Hi: There is significant relationship between customer satisfaction and banking services in Nigerian

2. Ho: The customer satisfaction does not enhance the profitability of banks in Nigeria 

Hi: The customer satisfaction enhance the profitability of banks in Nigeria 

3. Ho: Banking services does not play vital roles on customer satisfaction in Nigeria

Hi: Banking services play vital roles on customer satisfaction in Nigeria 


The objective of the study is to examine the impact of customer satisfaction on banking services.


The methodology employed in this research work is questionnaire which is the commonest means of obtaining data and by far the most frequently used instrument by most researchers.

Banker and customer relationship: Thus the relationship that exists between a banker and a customer is essentially a contractual one and it is an implied and unwritten contract. The relationship is sub-divided into two namely general and principal relationship. General relationship is basically between a banker and customer is that of debtor and creditor respectively, while principal relationship entails the banker’s rights. 

Bank customer: This is a person or group of people who open account either current or time deposit and savings account with the bank. There are two types of bank namely personal or non corporate customers and corporate customers.

The right of banker to customers or how does the bank services influence the customers satisfaction are as follows:

I. By paying cheques drawn by the customers properly, on the branch of the bank where such account is kept or any of their branch at all times, in as much sufficient funds are provided in the account. Even though automation has improved this service.

II. To maintain secrecy in respect of their customers affairs

III. To collect proceed of cheques and orders paid to the credit of the account

IV. The bank must give reasonable notice to the customer before closing the account or terminating their relationship

V. The bank must provide the customer with the statement of account regularly.

However, the right of customer to banker is as follows:

I. The customer must give written instructions to the bank, if he/she seeks to withdraw his money, i.e. withdrawn of cheques.

II. The customer must inform the bank, without delay, of any suspicious dealings on his account as may come to his knowledge through alert e.g. loss of cheque leave.

III. The customer must drawn his cheque with care and diligence and in a manner that will not facilitate fraud, forgery etc

IV. The customer must repay overdraft on demand, loan and other facilities as agreed by parties involved.

V. The customer must pay reasonable commission and interest on borrowed funds as agreed.

Why some people choose a particular bank. The people prefer or choose a particular bank due to the following reasons:

I. Waiting time for transaction: This entails that when customers want to make savings and withdrawals with other transactions less time-consuming by reducing the waiting time, in first bank of Nigeria the maximum waiting time is five (5) minutes for savings and withdrawals of money.

II. Handling customer complaints: Banks handle this with courtesy and care, and investigate impartially any complaint or grievance of a customer, concerning his relations with the bank without any delay.

III. Attitudes: This refers to the opinion of people on the bank staff towards customers, in its day to day business transactions. How they relate with the people whom it transacts business with

IV. Customer demand: This is a situation when bank ensure adequate liquidity so that cash withdrawal is met consistently.

V. Interest rate: Some people choose a particular bank, because of little increase of interest rate on savings and deposits, in line with the Central Bank of Nigeria’s credit and monetary guidelines. 

What are the banker’s expectations from the customers? The banker’s expectations from the customers are as follows: 

I. Honesty: This refer to a state of being sincere and truthful, customer should comply with agreements reached with the customer on interest charges on loans and advances. 

II. Reliability: This is the ability to keep promise or agreement at all times, even when the unexpected happens. Customers exhibit this by investing credit facility collected on the purpose of requesting the loan for and the repayment must be make regularly.

III.   Integrity: This is the ability to be committed to principles, moral toughness, trustworthiness, honesty and fairness, the customers must be people of their word and has good track records with the bank.

IV. Loyalty: This is the act of embracing the ideas, mission of the bank by all customers with the aim to help the bank in achieving its objectives.

V. Character: This entails that, the customer must responsible and possess credit worthiness, also respect his/her name and words or statements.

The model formulation of customer satisfaction 

CS = Customer satisfaction = Y

BS = Banking Services = X

Y = X,  

Y = Independent variable

X = Dependent variables

X= Opening of account+ safe custody items + Business advice + foreign exchange + Executorship + credit facilities + status of enquiry + agent + statement of account + international services 

X = βxy + βxy + βxy + βxy +  βxy +  βxy + βxy + βxy + βxy + βxy

The various banking services are briefly discussed below:

I. Opening of account: There are three basic types of accounts usually opened by the customers with the bank namely: savings account, time or fixed deposit and current account, in addition to the type of account are domiciliary account, Hi-fi account, Holiday account, pilgrimage account current account plus. This is the origin of customers relationship which banks recognize as contractual agreement. Bank should satisfy itself of the basic considerations such as customers occupation, residential address, age, authority letter from his/her employer, National identity card or driver’s license recent passport etc.

II. Safe custody items:  This is a subsidiary or special contractual relationship emanating from the popular banker/customer relationship. Specifically it is the Bailee /Bailor type of relationship where banker who receives the property is the bailee and the give of such property (customer) is known as the bailor. This types of service is carried out by the bank due to the safety and reasonable care normally employed by bank to safeguard customers assets or properties.

III. Business Advice: This refers to advices to advice services rendered by banker to his business in the areas of proper keeping of accounting record, financing, marketing production and management. this services is usually provided for small business customers that cannot avoid the service of a qualified accountant. 

IV. Foreign Exchange: This can be described as the activity of the bank which enable buyer and seller under two different currencies pass and receives payments for goods bought or sold are services rendered. It involves sale and purchase of foreign currencies, transfer of funds, plus settlement of debts and obligations on behalf of customers.

V. Status of Enquiry or Bankers’ opinion: This is an established practice all over the world that bankers will exchange opinion among themselves on their customers who have impliedly consented to this on opening of their accounts.

VI. International services: This is an arrangement of financing for exporters or importer under a scheme whereby export credits Guarantee and Insurance Department in Nigeria, travelers cheques personal home remittance etc

VII. Agency: This explained that banker must accept cash and other payment instruments like cheques, poster, order and dividend warrants on their customers account.

VIII. Statement of Account: This simply means bankers responsibility to customers with current account supplied with statement of account showing the replica of both credit and debit entries in the ledger account of the customer. This is usually delivered to the customer periodically, within a reasonable time or on demand when the customer comes to the bank to ask for the balance on his account.

IX. Executorship: This can be described as an intention of the testator appointing the bank to carryout the expression  contained in a will for proper and un-interrupted of impartiality, security, secrecy and experience etc in administering the deceased estate to the beneficiaries

X. Credit facilities: This simply means the process by which banks granting loans and overdraft to qualified customers with good track records. Banks usually assess the character, integrity, reliability and ability of their  customer to repay.


The statistical tools to be adopted is questionnaire survey which result help by improving satisfaction and also in operating more revenue, for additional cost on research and development is minimized. By allotting priorities as per this on research directions, organizations can maximize the benefits  of these survey. In my opinion the highest priority should be given to basic factor fulfillment.

Customer satisfaction and competitive advantage which entails “what is the role of customer satisfaction in gaining a competitive advantage”. Overall satisfaction in customer satisfaction questionnaire design states that “should we have a question capturing” “overall satisfaction in a survey form, apart from individual services attribute rating? If required, what is the additional value?”

Modeling bank customer satisfaction through mediation of attitudes towards human and automated banking.

Introduces a model which position a crucial role for the evaluation of bank customers’ attitudes towards both human tellers and automated banking ease the factor or perceived satisfaction linkage.

The models explicit consideration of the effects of bank customer attitudes provides additional explanatory power regarding how they perceived trend ease of banking influences bank customer overall satisfaction, switching and loyalty behaviour. A linear structural relations methodological approach is used for the modeling process.


The study undergoes the examination into several forms and the most common forms of quality customers satisfaction on banking services. The study will be restricted to the commercial banks and particularly emphasize on the FIRST BANK OF NIGERIA PLC and briefly touch the Central Bank of Nigeria.

The commercial bank being the place where the banker/customer relationship is mostly open and clearly demonstrated the Central Bank a representative of the government in the control and regulation of all activities of commercial banks


The major limitation encountered in this research work is the problem of data collection, which hinders getting adequate information                    

Another limitation is non –accurate of data collection from the questionnaire that was given out, for in arriving at constructive data collection.



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