Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between blockchain in banking operations and customer retention has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of the Nigerian Capital Market where operating conditions differ markedly from more developed markets.

Within the context of the Nigerian Capital Market, this relationship carries particular significance. Organizations in this setting operate under a distinct combination of economic, regulatory, and market conditions that may amplify or dampen the effect of blockchain in banking operations on customer retention, making a context-specific inquiry both timely and necessary.

1.2 Statement of the Problem

Despite a growing body of literature on blockchain in banking operations, there remains limited consensus on the precise nature of its relationship with customer retention, particularly within the Nigerian Capital Market. Many organizations continue to make decisions about blockchain in banking operations without a clear, evidence-based understanding of how those decisions ultimately affect customer retention. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Blockchain in Banking Operations on customer retention in the Nigerian Capital Market.
2. To assess the extent to which blockchain in banking operations influences customer retention within the study area.
3. To identify the challenges associated with blockchain in banking operations in relation to customer retention.
4. To recommend strategies for optimizing blockchain in banking operations in order to improve customer retention.

1.4 Research Questions

1. What is the effect of blockchain in banking operations on customer retention in the Nigerian Capital Market?
2. To what extent does blockchain in banking operations influence customer retention within the study area?
3. What challenges are associated with blockchain in banking operations in relation to customer retention?
4. What strategies can be adopted to optimize blockchain in banking operations in order to improve customer retention?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around customer retention. For managers and practitioners within the Nigerian Capital Market, the study provides practical insight into how blockchain in banking operations can be better managed. Finally, it contributes to the academic literature on finance / banking by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

The study is limited to an examination of Blockchain in Banking Operations and its relationship with customer retention within the context of the Nigerian Capital Market. It reflects a BSc-level scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.