The Web-Jurist® ratings were conceived by e-business experts at Phillips Consulting. The ratings commenced in May 2001 with version 1.0. Its primary objective was to critically and objectively evaluate the effectiveness of websites in Nigeria, focusing initially on the financial services industry and taking into account what the customer wants. Phillips Consulting sought to establish a barometer for assessing e-business activities and for identifying best practices. This exercise evaluated a total of 46 Banks’ websites at the time. The impact and effect of this initial evaluation exercise has been far reaching: Web Jurist 1.0 served as a wake up call for banks. For the first time, websites got executive attention which resulted in a deluge of internet activity by the banks. Several websites have been extensively revamped, some even abandoned their existing sites at the time and developed brand new websites, many websites are still in the process of evolving.