The Effect of Quality of Money Notes on Automated Teller Machine Efficiency among Deposit Money Banks in Lagos state, Nigeria
Shonubi, A.O1 (PhD) & Abuh, A.I2
Department of Business Administration
McPherson University, Seriki-Sotayo, Ogun State, Nigeria
E-mail: astor.abu@gmail.com, bosak200020012000@yahoo.com
Corresponding author: Shonubi, A.O1
ABSTRACT
The pursuit to understand quality of money notes on automated teller machine efficiency among deposit money banks has become more demanding and attention-grabbing over the years as it results in wasting of man hours. Unmanaged queues are detrimental to the productive operation of banking service systems. It is in light of this that this study investigated the effect quality of money notes on automated teller machine efficiency among deposit money banks in Lagos state, Nigeria. The study used descriptive survey design. The population of the research consisted of 258,699. The sample size was determined using the formula suggested by Cochran to arrive at 931. A multi-stage sampling method was used. A structured questionnaire titled “Quality of Money Notes on Automated Teller Machines” was used. The questionnaire was validated and administered with 82.9 percent response rate.The Cronbach Alpha for the two constructs was 0,879 and 0.880 while the KMO 0.749 and 0.724 respectively. The data was gathered through questionnaire and was analysed using regression analysis. Findings revealed that there was a significant effect of quality of money notes on efficiency of automated teller machines. All the queuing analysis of system factors variables had positive effects on market performance (quality of money notes: R = 0.461; R2 = 0.212; p = 0.000). The study concluded that quality notes will enhance the efficiency of ATM operations in deposit money banks in Lagos state, Nigeria. The analysis recommended that the managements of money deposit banks should embrace the habit of loading their ATMs with crisp notes to enhance the efficiency of automated teller machines.
Key Words: Quality of Money Notes, Machine Efficiency, ATM, Deposit Money Banks
