E-Commerce in Nigeria: A Survey of Security Awareness of Customers and Factors that Influence Acceptance Oluwafemi Osho Christopher I. Onuoha Joel N. Ugwu Department of Cyber Security Department of Informatics, Department of Computer Science, Technical University of Munich Science Federal University of Technology, kristalnetonline@gmail.com Federal University, Oye-Ekiti, Minna, Nigeria Nigeria femi.osho@futminna.edu.ng joeljupita@gmail.com Adeyinka A. Falaye, Department of Computer Science, Federal University of Technology, Minna, Nigeria falaye.adeyinka@futminna.edu.ng ABSTRACT perspectives in different literatures. Currently, there is no standard, The emergence of B2C e-commerce has influenced the business of generally-accepted definition of this concept [2]. However, some shopping worldwide, Nigeria inclusive. Since the first e-commerce definitions that cover different perspectives of e-commerce were platforms in Nigeria came on board, over a decade ago, its those by [3]. From a communications perspective, e-commerce adoption has dramatically increased. And this is despite the was defined to involve the usage of telephone lines or computer challenges it has been facing. This study seeks to access the networks for payments or to distribute information and security awareness of customers of e-commerce sites in Nigeria, products/services. From a business process perspective, e- and identify factors that influence acceptance of these platforms. commerce involves using technology to achieve business Data were collected via the use of questionnaire. Results show that transactions and workflows in an automated manner. On the other most customers are aware that their information are stored by the hand, from a service perspective, e-commerce is a means whereby e-commerce sites, and are concerned about the security of their management, consumers and organizations requirements are data on these sites and the possibility of their information to be covered to reduce service costs and at the same time improve the transferred to third party without their knowledge or permission. quality and delivery of goods and services. And e-commerce, from Yet only few of them make effort to always check the security and online perspective, supports the purchasing and marketing of privacy policies of the sites before making purchases. Also, only goods, information and other online services on the internet. few users are conversant with security technologies for securing e- Electronic commerce has four major classes which are B2B commerce platforms. Our proposed factors were found to be (Business-to-Business), B2C (Business-to-Consumer), C2B important or likely to influence transacting on e-commerce sites. (Consumer-to-Business), C2C (Consumer-to-consumer). The focus of most studies has been on B2C e-commerce. In fact, CCS Concepts e-commerce is arguably synonymous with B2C e-commerce. In • General and reference ➝ Document types ➝ Surveys and lay man’s term, it entails buying and selling via an online overviews platform. Its main advantage over transacting in a physical marketplace is the convenience of shopping from anywhere, Keywords anytime. E-commerce, web retailer, online retailer, trust, acceptance, privacy. E-commerce plays a major role in contributing to the economic growth of any nation [4]. For instance, it has the potency to boost small and medium-sized enterprises (SMEs) [5], [6], [7]. 1. INTRODUCTION Specifically, its effects on SME include development of new The beginning of electronic commerce can be traced as far back as markets, increased customer base, improved communication with 1970s during the time of electronic funds transfer and electronic customers, increased revenue growth, and reduced cost [6]. data interchange (EDI) in the 1980s. However, the growth of the Consumers and businesses in developing countries can derive internet during the late 1990s became the primary catalyst that higher values from e-commerce, compared to those in developed boosted its growth [1]. countries [8]. Unfortunately, developing countries are not E-commerce has been defined in many ways and from different sufficiently tapping the benefits that IT affords. Hence, the wide digital divide between the developing and developed countries in terms of IT adoption. 1.1 E-Commerce in Nigeria CoRI’16, Sept 7–9, 2016, Ibadan, Nigeria. One of the developing countries that have experienced steady increase in e-commerce adoption is Nigeria. Beginning with about 2 e-commerce platforms about a decade ago, Nigeria had over 75 of these platforms as at 2013. By 2014, they had increased to about 105 [9]. No doubt, e-commerce has proven to be successful 169 in Nigeria [10]. It began with the era where Automated Teller and doubt about the capacity of web vendors to deliver purchased Machines (ATMs) were the predominant mediums of transaction product and deliver it on time [9]. [11], [12], [13], growing to the current state of varied internet technologies for order placement, processing, fulfillment and 1.2 Objectives of Study delivery, and payment. It is not surprising that the transaction Despite the array of challenges facing e-commerce in Nigeria, the volume has grown geometrically [9]. number of web retailers and rate of adoption have been increasing. The success recorded so far in the adoption of e-commerce in As presented in Table 1, most of the visitors to these online Nigeria is predicated on the level of adoption of information shopping platforms in Nigeria are from Nigeria. It is interesting to technology in the country. For instance, within years 2000 – 2013, see that visitors are spending considerable time on these sites internet penetration moved from 0.06 to 38.00 per 100 inhabitants despite the fact that most of them are at best slow in loading. What [14]. Equally, within years 2000 to 2012, the mobile subscription could be the factors influencing acceptance of these platforms in base in the country had risen dramatically from 2% to 67.68% Nigeria? Are customers aware of security implications associated [15]. with transacting online? Are they even concerned about their security on the online shopping sites? How much about the Existing e-commerce sites in Nigeria offer a very wide range of security mechanisms and technology used to enhance security of products and services. Some web retailers offer products and the e-commerce sites do they know? The objective of the study is services to meet multiple customers’ needs. Two of the most two-fold. First, we evaluate the level of security awareness of popular e-commerce sites in Nigeria, jumia.com.ng and Nigerian customers of e-commerce platforms. Secondly, the study konga.com.ng fall into this category. Their range of products would seek to identify factors capable of influencing them to covers technology, health, fashion, to mention but three. On the accept these platforms. other hand, some online retailers simply focus on specific aspects of business. Two examples of these are obeezi.com and ochala.com, specializing in fashion. Table 1 below presents some 1.3 Significance of Study popular e-commerce sites in Nigeria, with their rank in Nigeria This study is significant in many ways. Primarily, it identifies and globally, percentage of visitors from Nigeria, estimated daily factors driving the success of e-commerce in Nigeria. Secondly, it time used by visitors, and how fast the site loads. is expedient for web retailers to understand the categories of visitors to their platforms, and what influences the visitors to In spite of successes in respect of adoption, there are challenges accept to transact on them. In general, the study reveals the current that have been identified militating against the progress of e- state of e-commerce in Nigeria. commerce in Nigeria. These include insecurity, poor electricity, and inadequate infrastructures. Despite these challenges, the prospect of e-commerce growth in the country is no doubt high 2. LITERATURE REVIEW [13], [16], [17]. Other challenges, equally common among 2.1 Security Awareness developing nations, include essential legislations, low IT literacy, Users of e-commerce sites are constantly exposed to privacy and lack of awareness, non-availability of local language websites, security risks. The security and privacy policies put in place by lack of adequate e-commerce experts [8], lack of trust in the e- owners of the platforms are often inadequate. This is because these commerce infrastructure, poor website design, inability to proprietors focus on functionality and ease-of-use. Consequently, complete transaction using credit/debit card option, and slow security suffers. Another factor that contributes to privacy and internet speed [9]. Nigerians are generally afraid of anything security risks is the underlying architecture of the internet, which ‘Nigerian.’ The lack of trust is as a result of accumulated distrust, does not support security sufficiently. The implication of this is caused by incidences of failure daily experienced. For instance, that, no matter the amount of security mechanism deployed cases of multiple deductions from a bank customer’s account absolute security is unattainable. using ATM are commonplace. There is a lack of trust in the government of the country. Citizens are accustomed to many Another issue posing risk on online shopping platform centers on failed promises. Also, Nigerian is famous for online fraud. web retailers’ use of customers’ and visitors’ information. This Consequently, this lack of perceived trust is occasioned when a actually constitutes privacy risk. One aspect entails monitoring potential customer experiences fear of providing financial details visitors’ and customers’ preferences through cookies without their on e-commerce sites, fear of multiple deductions from account, knowledge. The other involves passing customers’ private information to third party without their knowledge or consent. Table 1. Popular e-commerce sites in Nigeria with their respective rankings based on some indices [18] Site Rank in Global % of Daily time How fast the Nigeria Rank visitors* on site** site loads (secs) Jumia.com.ng 7 1,098 97.1 22.21 Slow (2.253) Konga.com 12 1,861 98.0 16.52 Very slow (3.765) jiji.ng 40 6,539 95.1 6.58 Very slow (3.164) Kaymu.com.ng 51 9,698 97.5 4.54 Average (1.872) Dealdey.com 54 7,494 98.0 23.48 Very slow (3.86) olx.com.ng 70 10,502 94.3 11.04 Slow (2.352) Yudala.com 160 22,618 98.8 11.27 Very slow (8.527) Checki.com.ng 219 27,012 90.6 7.47 Slow (2.624) Payporte.com 297 35,958 99.2 10.42 Very slow (3.477) Kara.com.ng 415 51,713 96.9 16.29 Slow (2.857) 170 Carmudi.com.ng 417 45,787 93.3 5.27 Very slow (3.705) obeezi.com 538 66,149 95.9 3.54 Very slow (11.955) Mallforafrica.com 637 78,470 93.5 8.58 Very slow (4.195) Supermart.ng 655 67,001 95.2 12.56 Slow (2.736) Coliseum.com.ng 681 88,458 97.9 3.29 Very slow (5.169) *Percentage of visitors represents visitors from Nigeria **Daily time on site is the estimated daily time on site (mm:ss) per visitor to the site In the light of the foregoing realities, it is wise to be security Consequently, we propose the following hypothesis: conscious while on e-commerce sites. Being aware that there are privacy and security risks associated with the internet naturally H1. Providing necessary contents and functionality is moderates a user’s behavior while online. Also, it could be helpful important to influence acceptance of e-commerce site. to have, at least basic, knowledge of necessary security requirements a web retailer is expected to put in place, some of 2.2.2 Relevant Information which are identifiable on the site. This could help a user in To enhance customers’ confidence to purchase the product a web identifying online shopping sites that hypothetically are secure. retailer must provide adequate product information [28]. For instance, [19] discovered that understanding of third-party Information on products and services offered, as well as the seals influence trust disposition. procedures for transaction must be complete and accurate. Insufficient information is a threat to acceptance of e-commerce [4], [21]. 2.2 Antecedents of acceptance of e-commerce platform Two important pieces of information are the privacy and security The success of e-commerce, as is the case with any technology, policies of the e-commerce platforms. One of the antecedents of depends largely on its being accepted by potential customers. E- trusts on e-commerce sites is perceived security [19], [26]. To commerce acceptance goes beyond obtaining information from an make a purchase a customer must trust the web retailer and also e-commerce site, but also includes actual transaction by trust the e-commerce infrastructure [20], [22], [24], [29]. Fear of purchasing from the site. In other words, acceptance goes beyond privacy and security risks can therefore be expected to reduce the mere intentions; it actually entails transaction behavior. Web tendency to transact online [4], [20], [28]. In other words, retailers desire buyers and not just visitors who surf their pages perceived risk of insecurity of personal information [20], [29], and [20]. also perceived risk, whether in the context of product/service purchased or the transaction process, could lower the likelihood to One factor which greatly determines customers’ acceptance of e- trust an e-commerce site [21], [30]. commerce is trust [4], [9], [10], [20], [21], [22], [23], [24], [25]. Trust is fundamental to adoption of e-commerce. This is more so Thus, the following hypothesis is proposed: because online transactions have a high degree of uncertainties H2. Providing relevant information is important to influence associated with them. This makes building trust so fundamental to acceptance of e-commerce site. the growth of e-commerce [20]. 2.2.3 Offering and Value Added Service 2.2.1 Contents and Functionality In order to attract customers, web retailers often engage in sales Lack of e-commerce infrastructure negatively impacts acceptance. promotion. The prices of products are usually slashed during some Reliability of payment instrument, and by extension, the entire e- periods of the year. In Nigeria, the web servers of a popular e- commerce infrastructures, will significantly have positive commerce site almost crashed during a sales promotion exercise, influence [21]. Web retailers must integrate technologies that known as Black Friday. The amount of traffic had been enormous. provide security into their online retail platforms. These include authentication and encryption mechanisms, privacy seals and Providing value added services is another factor that can influence disclosures, and firewalls [20]. Ponte, Carvajal-Trujillo, and acceptance. For instance, provision of fast and effective feedback Escobar-Rodríguez [19] discovered that third-party assurance or introduction of live customer service will particularly interest seals, privacy and security policies influence perceived security. new visitors. Visitors, on their first visit, could be skeptical about the site. Their fears can easily be allayed and doubts rapidly Studies have shown that customers on e-commerce sites seek not dissipated if their enquiries receive prompt attention. only benefits that are utilitarian, but also those epicurean benefits. For instance, customers naturally would want to be able to Therefore, we propose the following hypothesis: compare prices of products and navigate easily through web- H3. Different product offering and value added services will pages. In addition, they desire e-commerce sites with visually likely influence acceptance of e-commerce site. appealing designs, which provide pleasurable online shopping experience [22]. Navigation functionality has positive effect on trust [26]. An e-commerce site with good design layout guarantees 2.2.4 Vendor Reputation ease of use. Studies have shown that perceived ease of use of Many online vendors have built reputation in their area of website, for instance, to access needed information increases business, and are thus well known. A potential customer will more likelihood to accept the site [27]. likely choose to purchase from such vendors than from a web retailer not well known. Online retailer reputation reduces the perceived risk of buying online [28], influences perceived security 171 [19], increasing trust and, as a result, intention to purchase [20], 4.2 Security Awareness [24], [26]. While more customers of e-commerce platforms (57.8%) reported Based on this, we formulate the following hypothesis: they were aware that e-commerce sites store information, including personal and financial, entered by their customers, most H4. Online vendor reputation will likely influence trust to (55.4%) confessed they only seldom check the security and purchase from an e-commerce site. privacy policies of the sites. This is against the backdrop that most of them are actually concerned about the security of their data 3. METHODOLOGY when transacting online (54.2%) and the possibility of the sites’ owners passing their information to a third party without their 3.1 Participants knowledge or permission (49.4%). The results are presented in To achieve the aim of the study, it was necessary to access Tables 4 and 5. individuals who have patronized e-commerce platforms. Consequently, the survey was conducted in Lagos, one of the The study also reveals (as depicted in Table 6) that most states in Nigeria located in the south west of the country. The customers of e-commerce sites have either no knowledge or have choice was informed due to the fact that proprietors of most e- only heard about the technologies that enhance security of the commerce sites in Nigeria are based in Lagos. Specifically, during online platforms where they make purchases. Only very few have the early years of e-commerce adoption in the country, virtually all knowledge of these technologies. The level of knowledge of some the existing e-commerce platforms offered free delivery service to of the technologies used for securing e-commerce was found to only customers in the state. Non-probability sampling was significantly affect whether a customer will easily be satisfied or adopted. The survey was conducted in 2013, using questionnaire. not with the service provided by an e-commerce site. Specifically, A total of 200 questionnaires were distributed. Out of these, 131 in three of the technologies – firewall, Secure Socket Layer (SSL), were returned. After initial analysis, 84 were found to be valid. and site certification – the more a user knows about these Most of the returned questionnaires were invalid due to technologies the less such user is satisfied or likely to be satisfied incomplete and missing values. There were slightly more females with services on the platform. Among those who reported they had (50.6%) respondents. Most were students (51.8%), less than 25 no knowledge of firewall, 93.3% indicated satisfaction with years (55.4%), have been using the internet for more than 1 year services provided by their e-commerce sites. On the other hand, (72.3%), and have not purchased from the e-commerce sites more 56.1% and 45.5% of those who had only heard of it and those who than 5 times (69.9%). Table 2 contains the demographic details of have both heard and know how it works respectively indicated the respondents. satisfaction. The study was found to be significant ( ( ) ). For SSL, it was 92.3% v. 53.2% v. 20.0% 3.2 Measures respectively ( ( ) ), while for site certification, the level of satisfaction was reported by 73.5% v. The questionnaire contained four sections. The first consisted of 63.2% v. 18.2% respectively. This finding was equally significant questions involving demography. In the second section, ( ( ) ). respondents were requested to provide information pertaining to their usage of e-commerce platforms. While section three sought information on security awareness of the users, questions relating 4.3 Factors that influence acceptance to trust factors were contained in the last part. Providing necessary content and functionality that support clear understanding of services rendered by an e-commerce site and its The first, second, third, and fourth factors had 8, 6, 4, and 2 items ease of use is important in increasing the trustworthiness of the respectively. To indicate the level of agreement we use a 5-point site. Equally important, to gain the trust of customers, are relevant Likert scale. For the first and second factors, the scale consisted of information that define policies, about product, 1 = strongly not important, 2 = slightly not important, 3 = guarantee/insurance, and that answer basic questions customers important, 4 = very important, and 5 = don’t know. On the other often ask. hand, factors three and four had scale ranging from 1 = strongly unlikely, 2 = slightly unlikely, 3 = likely, 4 = very likely, to 5 = Introducing value added services, in addition to offering branded don’t know. We measured the internal consistency of the factors products and low prices, would likely influence customers’ trust to using Cronbach’s alpha coefficient. The overall internal purchase. Other positive factor is the reputation of the vendor in consistency of the 20 items was 0.745. Each of the factors also traditional and internet world. Tables 7 and 8 depict the results of indicated acceptable level of reliability. Table 6 presents the mean, the trust factors and individual variables respectively. standard deviation, and internal consistency of the 4 factors. Analysis of data was descriptive. To determine the influence of each factor/item we used the average response score. 5. DISCUSSION This study sought to assess the level of security awareness of customers of online shopping platforms in Nigeria. The other part 4. RESULTS was identifying factors capable of influencing these customers to 4.1 E-Commerce Site Usage accept these platforms. From the results, most of the users were As presented in Table 3, more than half of the customers (61.4%) found to possess substantial length of internet experience. More on e-commerce sites adopt the use of the platforms because they than half have actually purchased online not more than five times. find it convenient or easy. The next motivating reason for This suggests most customers are perhaps still conservative about purchasing on e-commerce site was the offer of delivery of purchasing from these sites. purchased items at customer’s desired location at no extra cost. To To pay for transactions, most customers prefer or use the make payment for purchases, most users prefer payment online. credit/debit card payment option. This is a positive sign showing When asked if they were satisfied with the service provided by e- that the country is making progress in her drive to go cashless. The commerce sites, most customers (51%) reported in the affirmative. study showed that fewer customers are choosing ‘pay on delivery’ 172 option. This result did not agree with [9] which reported ‘pay on Table 3. E-commerce usage characteristics delivery’ as the most preferred and assuring method of payment Freq % for customers. Reasons behind purchase Most users of e-commerce sites are aware that their information Money back guarantee 13 15.7 are stored by the sites, and are concerned about the security of Free delivery 22 26.5 their data on these sites and the possibility of their information to 3rd party recommendation 8 9.6 be transferred to third party without their knowledge or Convenient/Easy 51 61.4 permission. Yet only few of them make effort to always check the Others 6 7.2 security and privacy policies of the sites before making purchases. This suggests that the innate desire by most customers for security Most used/preferred payment method does not go beyond mere expectation and should be satisfied by a Card online 46 55.4 third-party. Customers expect web retailers to be solely PoS terminal at collection 7 8.4 responsible for their security, while they simply ‘fold their hands.’ point Web retailers are limited in their capacity to provide security on Cash at collection point 2 2.4 their platforms. Users themselves, therefore, must be more active Cash on delivery 6 7.2 towards being protected while online Bank deposit 22 26.5 Total 83 100.0 Table 2. Users’ demographic information Freq % Satisfaction with level of service provided Sex Yes 51 61.4 Male 41 49.4 No 32 38.6 Female 42 50.6 Total 83 100.0 Total 83 100.0 Only very few customers, the study also revealed, know how security technologies used for securing e-commerce Occupation infrastructures work. Most have only heard of them. On one hand, Student 43 51.8 this calls for concern. A customer who has no knowledge about Employed 30 36.1 any of the security mechanisms might not know when his security Unemployed 10 12.0 is breached by a web retailer. Such users are prone to be less Total 83 100.0 security conscious online, and could be more likely to transact without any restraint. This lack of knowledge probably explains Age the inconsistent attitude of most customers to checking security < 20 20 24.1 and privacy policies of online shopping sites before making 21 – 25 26 31.3 transactions. 26 – 30 15 18.1 On the other hand, the fact that most e-commerce customers in 31 – 35 12 14.5 Nigeria knows nothing or have only heard of these technologies 36 – 40 4 4.8 implies that e-commerce in Nigeria is accepted by both expert and > 40 6 7.2 non-expert IT users. In fact, for e-commerce to thrive, it must be Total 83 100.0 accepted not only by those with good IT knowledge, but also those less IT-literate. This group of non-literate IT users would readily Length of internet usage appreciate online retail platforms with good design layout which < 6 months 17 20.5 supports ease of use. 6 months 2 2.4 1 year 4 4.8 We explored if there was any relationship between level of > 1 year 60 72.3 knowledge of internet security technologies and satisfaction with Total 83 100.0 services provided by web retailers. Our findings revealed that Total 100.0 those who possess knowledge about the workings of these technologies were less satisfied and less likely to be satisfied by e- Number of purchases commerce platforms. One possible reason why less percentage 1–5 58 69.9 was satisfied among those who have knowledge of online security, 6 – 10 18 21.7 compared with those who either knew nothing or have only heard, 11 – 15 2 2.4 was non-availability of the security technologies on the e- > 15 5 6.0 commerce sites. To satisfy those with considerable IT security Total 83 100.0 knowledge, web retailers would have to go beyond providing platforms with good design layout and functionality. The ability of the sites to support security as well must be evident. Online retailers must make easily accessible security seal (also known as third-party assurance seal), privacy and security policies, and other security evidence on their sites. 173 Provision of necessary contents and functionalities, relevant Freq % information were found to be important in influencing transaction Aware of storage of personal and online. Also, providing value added services and vendor financial information reputation are likely to influence a potential customer to purchase Yes 48 57.8 from an e-commerce site. These findings suggest customers No 35 42.2 desire full satisfaction while online. They not only want a platform Total 83 100.0 where locating a product is easy, adequate information about products are easily accessible, enquiries are rapidly attended to, or Checking of security/privacy policy transaction could be completed almost seamlessly, but also would before transaction appreciate visible evidence that the retailers are able to secure Never 17 20.5 their personal and transaction information. Sometimes 46 55.4 Table 4. Security awareness Always 20 24.1 Total 83 100.0 Table 5. Level of security concern Strongly not Slightly not Concerned Strongly Don't know concerned concerned concerned Security of data when transacting 3 (3.6%) 19 (22.9%) 45 (54.2%) 11 (13.3%) 5 (6.0%) Passing of your information to a third party without your 4 (4.8%) 16 (19.3%) 41 (49.4%) 16 (19.3%) 6 (7.2%) knowledge or permission Table 6. Level of knowledge of associated security technologies No I have I have heard of it and knowledge heard of it know how it works Firewall 15 (18.1%) 57 (68.7%) 11 (13.3%) SSL (Secure socket layer) 26 (31.3%) 47 (56.6%) 10 (12.0%) SET (Secure electronic transaction) 31 (37.3%) 36 (43.3%) 16 (19.3%) Encryption 35 (42.2%) 35 (42.2%) 13 (15.7%) Site Certification 34 (41.0%) 38 (45.8%) 11 (13.3%) Table 7. Trust factors capable of influencing a customer to purchase online Factor No. of Item Mean SD Cronbach’s alpha Content and Functionality 8 3.038 0.965 0.675 Relevant Information 6 3.050 0.967 0.710 Offering and Value Added Serivces 4 2.988 0.921 0.649 Vendor Reputation 2 2.789 1.006 0.554 Table 8. Mean and standard deviation of individual trust Product Information 3.16 1.042 variable Offering and Value Added Serivces Factor Mean SD Provides fast/effective feedback 3.00 0.841 Content and Functionality Offers low prices 2.89 0.856 Security seal 3.08 0.940 Offers branded products 2.96 0.917 Privacy seal 3.06 0.929 Uses advanced technology 3.10 1.055 Search facilities 2.95 0.825 Logos of well known brands 2.96 0.788 Vendor Reputation Pictures of product 3.11 0.897 Well known in traditional world 2.59 1.036 Pictures of real people 3.05 1.070 Well known in internet world 2.99 0.969 Company logo 2.96 1.041 Navigation (layout and ease of use) 3.12 1.173 This study is not without limitations. First, self-report measures Relevant Information were used as the primary source of data. This implies that our Privacy policy 3.00 0.937 findings are subject to the validity of these measures. It raises the Security policy 3.01 0.943 question of generalization. Results here, for instance, may not be Frequently asked question (FAQ) 3.05 0.949 applicable to other, say, age group. Secondly, the relatively small Customer service section 2.89 1.000 sample size became the source of some other limitations. Our Guarantee/Insurance 3.19 0.930 intention was to use exploratory factor analysis (EFA) for data 174 reduction, in order to identify factors that most explain the [11] Adesina, A. A., and Ayo, C. K. 2010. An Empirical variance in the observed variables. However, based on pre- Investigation of the Level of Users’ Acceptance of E- analysis results, including communalities and correlation Banking in Nigeria. Journal of Internet Banking and coefficients, it was evident the method could not be used. Also, Commerce, 15, 1, 1-13. exploring relationship between variables (using Chi-square), in [12] Ayo, C. K. 2006. The Prospects of E-Commerce many cases, became infeasible. In most of these cases, more than Implementation in Nigeria. 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