EFFECT OF INFORMATION COMMUNICATION TECHNOLOGY (ICT) ON DEPOSIT MONEY BANKS PROFITABILITY IN NIGERIA (2008-2023)

ICT tools have redefined how financial services are delivered, offering convenience and expanding access. The main objective is to investigate the effect of information communication technology (ICT) on deposit money banks profitability in Nigeria. Ex-post facto research design is employed, using annual data that spanned from 2008-2023 for a time series data. Various pre and post test estimation were conducted and based on the unit root test result, ARDL Model is employed to interpret the hypotheses with the aid of E-View 12.0 statistical software. Findings were that on the long run, Automated Teller Machine Value of Transactions (ATMV) has a positive and insignificant effect on Return on Assets of Deposit Money Banks (ROA), Web Payment Value of Transactions (WBPV) has a negative and significant effect on Return on Assets of Deposit Money Banks (ROA) while Mobile Money Value of Transactions (MBMV) has a positive and insignificant effect on Return on Assets of Deposit Money Banks (ROA). This study concludes that information communication technology (ICT) does not significantly affects deposit money banks profitability in Nigeria. Based on the findings the following recommendation were made, banks should invest in advanced ATM security features to reduce fraud-related losses and improve customer confidence in ATM transactions. Banks should explore revenue-generating opportunities by introducing premium web banking services, subscription-based transaction models, and tailored financial products for online users. Banks should work on expanding the adoption and profitability of mobile money services. This includes strengthening partnerships with telecom operators to improve service efficiency, reducing transaction costs to attract more users.