There has been tremendous growth in mobile banking penetration in many countries in the developed and
developing economies and most interestingly in a number of developing countries such as Nigeria. Yet
there are numbers of opportunities and threats in the mobile banking systems. However the major threat of
mobile banking is its non-adoption by the banking customers. This research focuses on the perceived
barriers to mobile banking adoption in Nigeria as a developing economy. The study adopted an exploratory
qualitative method and this was conducted among banking customers spread across three regions of North,
West and East of Nigeria. The basis of participants’ selection was being active customers of the Nigerian
banks. Findings indicate that there is intention to adopt the mobile banking services; unfortunately, the
intentions cannot be translated into action due mainly to lack of trust on issues such as the delivery
channels/technology, communication infrastructures, government policies, etc. Findings further revealed
that majority of respondents do not use internet and mobile banking services, due to several identified
barriers. There is however a preference for the traditional banking approaches as opposed to the mobile
banking services. The study recommends that banks and other financial institutions embark on massive
awareness campaig
