Assessment of Cybersecurity Practices in Electronic Banking Among Agro-Entrepreneurs in Obio/Akpor L.G.A, Rivers State, Nigeria.

International Journal of Research and Scientific Innovation (IJRSI) | Volume VIII, Issue V, May 2021 | ISSN 2321–2705

Assessment of Cybersecurity Practices in Electronic Banking Among Agro-Entrepreneurs in Obio/Akpor L.G.A, Rivers State, Nigeria

Ugwuja V.C* and Ekpo M. E
Department of Agricultural Economics and Extension, University of Port Harcourt, Nigeria
*Corresponding author

ABSTRACT
The study assessed cybersecurity practices adopted by agro-entrepreneurs in Obio/Akpor L.G.A, Rivers State. The specific objectives were to describe the socio-economic characteristics of agro-entrepreneurs in Obio/Akpor L.G.A, identify electronic banking products accessed by agro-entrepreneurs, ascertain fraud experiences of agro-entrepreneurs in accessing electronic banking products, identify cybersecurity control measures adopted by agro-entrepreneurs, and to ascertain factors that influence level of adoption of cybersecurity measures among agro-entrepreneurs. Data were collected with the aid of structured questionnaire, administered on 90 respondents using two-stage sampling procedure. The data were analyzed with the use of descriptive statistics and regression analysis. The finding showed that 83.3% of the respondents were male, 43.3% of the respondents were in the age bracket of 31-40 years, and married agro entrepreneurs were 71.1%. Electronic banking products mostly utilized by the respondents were SMS Alert, online fund transfer, balance enquiry, Debit card and Automated Teller machine (ATM). Agro-entrepreneurs experienced risks of unsuccessful transaction through POS in which their accounts were debited, they also experienced threats such as smishing in which they released their banking details through SMS and money was debited from their account. Agro-entrepreneurs adopted cybersecurity measures such as avoiding lonely ATM, ignoring text messages and email that request for banking details. Also, the regression result on the rate of adoption of cybersecurity measures by agro entrepreneurs indicate that farming status, cooperative membership, annual income and internet access were significant factors influencing rate of adoption of cybersecurity measures. The study recommends that Central Bank of Nigeria should impose on banks with the responsibility of educating customers deeply not only superficially on the risk involved in electronic banking, and banks should provide financial products and services that will expose customers to mild risks.

Keywords: Electronic banking; Cybersecurity; Agro-entrepreneurs; Financial Products and Services

INTRODUCTION
Agriculture is a major contributor to Nigeria’s gross domestic product (GDP) and small scale agro-entrepreneurs play a dominant role in this contribution (Mgbenka et al 2015). Agro-entrepreneurship is the process of backward or forward value addition whereby farmers use creative ways of improving the quality and quantity of agricultural produce or get involved in agro-based industry activities. These creative ways are usually enhanced by the use of Information and Communication Technology (ICT).
The term ICT according to Zuppo (2012), can be defined as a combination of communication applications, procedures and devices that include phones, computer and network hardware and software. Information and communication technologies have been implemented in various sectors in the economy such as the education sector, health care, financial sector to aid in service delivery.

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