Cost of Quality Management and Customers’ Satisfaction in Nigerian Deposit Money Banks (A Case Study of Selected Banks in Uromi, Edo State)

This paper investigates the cost of quality management and customer satisfaction in deposit money banks in Nigeria using the banks in Uromi community as a case study. The study adopted a survey research design to specifically assessed whether or not customers’ satisfaction is dependent on internal control, failure prevention and appraisal cost. The population of this study consists of five (5) selected deposit money banks within Uromi community in Edo state with a total estimated population size of 1854 staff. A sample size of three hundred and twenty-nine (329) was drawn from the population using purposive sampling technique. Three hypotheses were formulated for the study and tested at 0.05 level of significance. The instruments of data collection consist of questionnaire structured on a five-point Likert scale. The data which were collected were subjected to analysis, interpretation and summarization using the Pearson correlation co-efficient to ascertain information. The findings from this study shows that, the use of the value chain in deposit money banks delivers improving level of performance regarding cost and as well as making product with zero defect and waste in order to meet customers satisfaction.