Selective Appraisal of the Liability of Financial Institutions with Use of E - Banking and Payment Systems

Abstract

This paper seeks to examine the impact of Information and Communication Technology (ICT) on the provision of financial payment services in Nigeria. We have carried out a selective appraisal of the liability of financial institutions as well as payment system providers that have deployed ICT tools in the delivery of their services in relation to cases of forgery, fraud, mistake and system failure; while assuming at all times that the customer or client is faultless, The paper examines the selected issues within the precincts of the extant legal regime in Nigeria with a view to ascertaining if they suffice for the regulation of the relationship between customers and financial institution.

DOI: 10.5901/mjss.2015.v6n3p515