Banking Sector In Nigeria Research Articles

The Impact of Financial and Non-Financial Rewards on Employee Migration Intentions in Lagos Banking Sector

The Nigerian banking sector has been facing a significant exodus of skilled employees in recent times which has continued to threaten the sector's development. However, despite numerous studies to address this phenomenon, fewer empirical studies have explored how financial and non-financial rewards impact the migration intention of employees in the banking sector in Nigeria. This study therefore examines how reward systems including financial and non-financial affect the migration intention of employees in Lagos banking sector. A cross-sectional design with purposive and proportionate sampling was adopted for the study. The purposive sampling was adopted to select eight banks in the Mainland Local Government Area of Lagos, Nigeria while a proportionate sampling was used to sample the respondents to ensure adequate representation across the banks. A structured questionnaire was used for collecting data from a sample size of 99 which was determined from a population of 131 in the selected banks using the Yamane formula. However, only 89 responses were obtained across the selected banks and were then statistically analysed using descriptive statistics for the socio-demographic data. Correlation with multiple regressions was utilised for hypothesis testing at a 5% significance level and the study found that both financial and non-financial rewards significantly affect employees’ migration intention. Therefore, the management of banks should improve on the existing financial reward systems to make them more globally competitive as this would enhance talented employees’ retention and reduce employees’ migration intention in the banks.

Distributed Ledger Technology and Financial Reporting Integrity in Nigerian Quoted Banks: A Study on Error Reduction and Enhanced Transparency

This study investigated the effect of distributed ledger technology (DLT) factors on eliminating financial reporting errors (FREs) in quoted Nigerian banks. Using an exploratory survey design, data was collected from 300 employees of 14 quoted banks involved in financial reporting. DLT factors of public, private, hybrid, and blockchain were examined as independent variables affecting the dependent variable of FRE elimination. Descriptive analysis showed that all DLT types were perceived as highly effective for error reduction. Correlation analysis revealed strong positive relationships between DLT factors and FRE mitigation. Regression modeling found that hybrid DLT had the largest impact on error elimination, followed by private, public, and blockchain DLT. Together, the DLT factors explained 98.1% of the variance in FRE reduction. The results statistically established the significant positive effects of DLT factors on eliminating prevalent FREs like principle, omission, entry, disclosure, and reversal errors. Key contributions include providing robust empirical evidence that leveraging DLT, especially hybrid DLT, can eliminate common financial reporting errors in Nigerian banks. The pioneering study expands conceptualizations, theories, and literature regarding DLT's potential to comprehensively transform financial reporting accuracy. It offers important implications for policy, practice, and research on regulating, adopting, and studying DLT solutions to address persistent financial statement errors undermining stakeholder trust in Nigeria's banking sector. The study concludes by strongly recommending for policy and, in practice, the regulation and full adoption of DLT for the elimination of FREs in Nigeria.

Unlocking employee engagement: Investigating the influence of informational justice in Nigerian banking sector

This study explores the relationship between informational justice and employee engagement. The objectives of the study are to examine the influence of informational justice on affective engagement, behavioral engagement, cognitive engagement, and physical engagement. To guarantee a representative and varied sample of the Nigerian banking industry, a survey design was used, and participants were chosen using the stratified sampling technique. We collected necessary data from primary sources and deemed 209 copies of the 231 distributed questionnaires valid and suitable for the study. Preliminary findings suggest a strong positive relationship between employee engagement levels and perceptions of informational justice. Workers with higher levels of participation in all four categories—behavioral, cognitive, physical, and affective—tend to perceive a high degree of informational justice, where communication is clear, prompt, and comprehensive. This suggests that employees are more likely to be emotionally committed, display positive work behaviors, be intellectually focused, and be physically present in their tasks when they feel well-informed and sense fairness in the sharing of information. The findings contribute to the literature in several ways, including improving the understanding of informational justice in Nigeria's banking sector. Furthermore, the findings offer practical insights for the bank seeking to enhance employee engagement through improvements in communication processes and transparency.

Influence of technological usage on customer service and customer satisfaction in the banking sector

Technology-based self-service banking enables customers to complete services for themselves without support from bank staff. The study investigated the influence of technological usage on customer service and customer satisfaction in the Nigeria banking sector in Nigeria. The study made use of two objectives, which specifically find out the influence of technological usage on customer services and the influence of technological usage on customers’ satisfaction. Two null hypotheses were formulated to guide the study. A survey research design was adopted. The population of the study were commercial bank customers in Ondo State, Nigeria. A purposeful sampling technique was used to select one hundred participants from ten commercial banks in Ondo State. Results of the study reveal that technological usage has a significant influence on customer service [F (l, 98) 194.244; there is a significant influence of technological usage on customers’ satisfaction [F (1, 99) = 27.452; p<0.05]. It was concluded that the use of technologies in customers’ services can be used to increase the efficiency of banks.

Money Laundering Practices and Operational Efficiency of Deposit Money Banks in Nigeria

This study examined the extent to which operational efficiency is influenced by the legal framework of money laundering in Nigerian commercial banks. It determined the degree of effect which the institutional and the regulatory frameworks for the practices of money laundering have on the operation’s efficiency of deposit money banks. These were to provide information on the nexus between the efficiency and the frameworks for the practices of money laundering within the banking sector in Nigeria. The research design used in this work was a survey. This work used primary data through the structured questionnaires. 900 personnel were selected as a sample size using stratified random sampling. The targeted population were the workers and customers of listed deposit money banks in Nigeria. This research work analysed the data using simple percentages as a descriptive analysis and analysis of variance (ANOVA) as an inferential statistic. The work showed that the operational efficiency of deposit money banks was significantly influenced by the legal framework for the practices of money laundering in Nigeria (t = 9.59; p < 0.05). In addition, the operational efficiency of deposit money banks was significantly affected by both the institutional framework and the regulatory framework for the practices of money laundering in Nigeria (t = 3.59; p < 0.05 and t = 2.12; p < 0.05 respectively). In conclusion, the operational efficiency of Nigerian deposit money banks changed significantly as a result of the formulation of frameworks for the practices of money laundering.

EVALUATING THE EFFECTIVENESS OF HUMAN RESOURCE MANAGEMENT STRATEGIES ON EMPLOYEE CONTENTMENT IN NIGERIA'S SERVICE SECTOR (BANKING INDUSTRY)

The aim of this study is to assess the effectiveness of human resource management (HRM) practices on employee contentment in the service sectors, focusing particularly on the Nigerian banking industry. A questionnaire was designed and distributed to 540 individuals working in service sectors, with a specific emphasis on the banking sector in Nigeria. Of these, 406 responses were collected. Statistical analyses including regression analysis using the Statistical Package for Social Science (SPSS) and one-way ANOVA were employed to test the research hypotheses. The findings revealed that overall, HRM practices, including HR planning, staffing, training & development, and performance appraisal, demonstrated high levels of effectiveness. However, the efficacy of remuneration was deemed to be moderate. Employee contentment levels were found to be moderate as well. Importantly, a strong positive correlation was observed between the effectiveness of HRM practices and employee contentment. The report suggests that banks should enhance their financial compensation policies to improve employee morale and contentment. Additionally, it recommends conducting comparative studies between commercial banks and Islamic banks to gain further insights.

The Impact of Performance Appraisal System (PAS) on Employee Performance in Banks Operating in South East Nigeria Post-Covid-19 Pandemic

This study examined the impact of the performance appraisal system (PAS) on employee performance in banks operating in South East Nigeria post the Covid-19 pandemic. The study's broad objective was to examine the impact of performance appraisal on employees' work performance in South East Nigeria. This research also looked into the important components of performance appraisal, such as setting performance criteria, communicating those goals, measuring actual performance against those standards, discussing the appraisal with employees, and providing feedback. The required data for this investigation was acquired using a closed-ended structured questionnaire. Many related studies were used to create the questionnaire, which was then modified. The following approaches were used to select the comprehensive sample from a total population of 1745 employees: The target demographic was first determined, and then the sample size was calculated using a formula. Basically, 325 questionnaires were distributed to the employees that were sampled, and 260 of them were returned, representing 80% response rate. The 260 completed surveys were then analysed with smart PLS, a programme designed specifically for Structural Equation Modeling, path analysis, and confirmatory component analysis. It is also known as causal modelling software or analysis of covariance software. Correlation analysis and descriptive statistics were used. The study's findings revealed that performance appraisal had a primarily favourable impact on employee performance in Nigeria's banking sector. There was some positive and a negative (very significant) relationship between performance appraisal and employee performance, according to the correlation study.

Effect of Electronic Marketing Practice on Service Satisfaction and Legal Framework in Nigeria Banking Sector

Effect of Electronic Marketing Practice on Service Satisfaction and Legal Framework in Nigeria Banking Sector

Effect of Workplace Toxics on Employees Wellbeing in Nigeria Banking Sector

Effect of Workplace Toxics on Employees Wellbeing in Nigeria Banking Sector

An Investigation into the Retention of Talent in the Nigeria Banking Sector

This study aims to investigate talent retention in the Nigeria Banking Sector using Wema Bank Plc. as a case study. To achieve this aim, the primary source of data was employed to collect data from respondents. Specifically, semi-structured interviews were conducted to gather data from nine (9) employees at Wema Bank. Data retrieved were analysed using thematic analysis. Findings from the semi-structured interview showed that factors such as poor remuneration, non-flexibility in work arrangements, poor performance management process, increased workload, and increased stress levels are responsible for the increased rate of talent turnover in Nigeria Banks. In addition, it was discovered that the increased turnover rate caused by the identified factors had been the cause of poor service delivery of banks, especially in areas such as Internet banking and mobile applications. Furthermore, employee resistance to change, non-commitment of the management team, and budget constraints were identified as challenges causing a hindrance to the implementation of some of the talent retention strategies created by Wema Bank. Thus, based on the findings from the semi-structured interview, training and educating talent, ensuring timely promotion, pay increase in such a way that offers more than competitors within and outside the banking industry, rewarding and recognising talent, implementing flexible work arrangements, and ensuring cross border recruitment, have been found suitable for improving talent retention in Nigerian Banks. Furthermore, the study recommended implementing flexible work arrangement policies and practices to help reduce workload and stress and ensure a healthy work-life balance.

Treasury Management Practices, Financial Performance and Sustainability in Banking Sector

Abstract This study investigated the impact of treasury management practices on financial performance of the banking sector in Nigeria. Treasury management has become a crucial component of the financial performance and sustainable growth of banks. Consequently, difficulties with treasury management practices have an immediate impact on the banking industry and financial system as a whole, which can have an indirect effect on the economic growth and development of the nation. The study used secondary data extracted from annual reports of quoted deposit money banks (DMBs) in Nigeria. Panel data analysis was utilized. Descriptive statistics, correlation matrix and ordinary least square (OLS) were employed. The explanatory variables were bank deposit liabilities and earning assets whereas return on assets (ROA) and return on equity (ROE) were used as proxies for bank financial performance. The DMBs’ data was evaluated using appropriate statistical methods. According to the findings of the study treasury management practices influence the financial performance and sustainability of Nigerian DMBs. Given the highly competitive nature of the industry and the demands for financial performance, the study concluded that there is a need for a strong, effective and efficient treasury management strategy that will maximise returns, increase the value of the company’s shares and maximise shareholder wealth.

Sectorial Allocation of Banks’ Assets and Profitability of Commercial Banking Sector in Nigeria

This study examines sectorial allocation of banks’ assets and profitability of commercial banking sector in Nigeria. The study made use of return on assets (ROA) as proxy for dependent variable measuring profitability of commercial banks in Nigeria while banks assets allocations to Petroleum Sector, Breweries Sector, Conglomerates Sector, Agricultural Sector, Construction Sector and Fast Moving Consumer Goods Sector, was used in the study as independent variables. All data were obtained from Central Bank of Nigeria statistical bulletin and which span across 2008 to 2022. Data stationarity was ensured using the Augmented Dickey Fuller statistics, while the error correction model was applied to as the statistical tool for acceptance of hypothesis. The study also upholds the bank-based systems and that of the commercial bank theory. Sectorial allocation to the Petroleum Sector (PETR), Breweries Sector (BREW), Conglomerates Sector (CONG), Agricultural Sector (AGRIC), Construction Sector (CONS), Fast Moving Consumer Goods Sector (FMCG) is significant and positive and contributed positively to return on assets (ROA), government should ensure the proper financing and monitoring of these sectors. No causality between FCMG and PETR. PETR, BREW, CONG, AGRIC, CONS, FCMG granger cause ROA. There is a bi-directional relationship between PETR and ROA; BREW and ROA; CONG and ROA; AGRIC and ROA; CONS and ROA; and FMCG and ROA. The current risky business environment is affecting banks’ ability to lend to the Petroleum Sector (PETR), Breweries Sector (BREW), Conglomerates Sector (CONG), Agricultural Sector (AGRIC), Construction Sector (CONS), Fast Moving Consumer Goods Sector (FMCG). Commercial bank assets allocated to Fast Moving Consumer Goods (FMCG) and allocation of banks’ assets to conglomerate sector (CONG) exhibited a negative coefficients, thus suggesting reject the alternate hypothesis, and accept the null hypothesis which states that t here is no signi

DIGITAL TRANSFORMATION IN BANKING: A REVIEW OF NIGERIA'S JOURNEY TO ECONOMIC PROSPERITY

The extensive economic ramifications of Nigeria's banking sector's multifaceted digital transformation are examined in this study. The "Giant of Africa," Nigeria, has undergone a significant transformation in its banking practices, adopting cutting-edge digital technologies to boost productivity, advance financial inclusion, and stimulate economic growth. The study identifies key elements of the banking industry's digital transformation, emphasizing the function of online platforms, digital payments, blockchain technology, and cryptocurrencies. Additionally, it explores the forces propelling this transformation, such as customer demands for seamless experiences, increased competition from fintech startups, and governmental requirements for greater transparency. The research also offers a thorough overview of Nigeria's banking industry and economic environment, highlighting its historical reliance on conventional methods and willingness to adopt digital innovations. It exemplifies how digital transformation affects economic growth, investment, entrepreneurship, and job creation outside banking institutions. The study suggests advancing digital transformation in Nigerian banking, including bolstering cybersecurity spending, updating technology infrastructure, and encouraging cooperation with fintech partners. Furthermore, it promotes customer education and ongoing innovation as crucial for long-term success. The study's findings highlight the potential for economic prosperity and the challenges that must be overcome. It also sheds light on the transformational path of Nigerian banking. Nigerian banks can navigate the digital environment and significantly enhance the nation's economy.
 Keywords: Digital Transformation, Nigerian Banking Sector, Regulatory Compliance, Cybersecurity, Data Privacy, Economic Impact, Mobile Banking, Blockchain And Cryptocurrencies

DIVIDEND PAYOUT AND ITS DETERMINANTS IN THE NIGERIAN BANKING SECTOR

The study examined determinants of dividend payout (DP) in the context of the Nigeria banking sector between the periods of 2009-2018. A sample of eight (8) banks was drawn out of the 21 deposit money banks (DMBs) for the study. The study made used of secondary which was sourced from the annual reports and accounts of the various banks and analyzed with descriptive statistics, correlation analysis and multiple regression analysis using OLS method by using the pooled model with the aid of E-VIEW computer software. The findings revealed that Profitability (PROF) and Bank Size (BS) have significant relationship with DP Ratio (DPR) while Liquidity (LIQ) and Loan to Deposit Ratio (LDR) does not. The study found a substantial link between DP determinants and DPR in Nigeria DMBs. Since it has the lowest impact on bank DP, the study proposes that banks have optimal loans to deposit to boost LIQ and prevent illiquidity.
 Keywords: Dividend Payout, Profitability, Liquidity, Loans and Deposits.

ASSESSING CAPITAL ADEQUACY: AN EMPIRICAL STUDY OF FINANCIAL INSTITUTIONS IN NIGERIA

This empirical study investigates the determinants of capital adequacy among financial institutions in Nigeria. Using a comprehensive dataset and econometric techniques, the research explores various factors influencing the capital adequacy ratios of banks and other financial entities in the Nigerian market. Key determinants such as asset quality, earnings retention, risk management practices, and regulatory compliance are analyzed to understand their impact on capital adequacy levels. The findings contribute to the understanding of the financial stability and resilience of Nigeria's banking sector, offering insights for policymakers, regulators, and industry stakeholders to enhance capital adequacy standards and promote a robust financial system.

Leadership Change Implications on Employees Loyalty in Nigeria Banking Sector

Leadership Change Implications on Employees Loyalty in Nigeria Banking Sector

Barriers to the Adoption of E-Marketing in The Banking Sector in Nigeria

In the world today, technology is evolving rapidly. Today, artificial intelligence, robotics, smartphones and gadgets, computer programming, remote controls, and other advancements in information technology are new technologies that have triggered a revolution and altered completely the traditional world order. In most developing economies, e-marketing is somewhat a contemporary issue among practitioners, academics, and policymakers. It is one of those concepts that were birthed with rapid advancements in technology. E-marketing is a modern business tool used in the marketing of goods, services, information, and ideas through the Internet and other electronic means (El-Gohary, 2010). Coviello (2004), notes that businesses in the services sector, primarily the consultancy and professional service providers like banks, have shown a robust interest in adopting Internet technologies for marketing purposes as their type of business integration necessitates the use of computer technologies as a core activity. The practice of marketing has been redefined to a level that seeks to change the traditional concept of marketing propelled by technology. As a result, e-marketing has gained prominence as a vital tool for carrying out strategic marketing activities and gaining competitive advantage which has wide-range implications for marketing practice . Firms must take advantage of information technology, especially the internet to survive in the 21st century (Weihrich and Koontz,2005). Nnolim, and Nkamnebe (2007) opine that it is becoming obvious that firms, and consumers who continue to ignore the internet technology would soon discover the difficulty of surviving outside it beacuse it is redefining the relationship between exchange parties and determines the exchange mechanism. Rapid growth in information technology has revolutionized marketing activities and business operations worldwide. Because, businesses are adopting technology and other electronic means in conducting marketing activities, e-marketing has now developed as a new marketing philosophy.

A Linkage Between Perceived Corporate Image and Organisational Identification in the Banking Sector in Nigeria

Whether an organization makes an effort to change its image, every organization has one. The stakeholders' perceptions of a particular firm activity as well as related global and industry challenges shape the perceived corporate image. One of the important topics in the management and organizational fields has been corporate image. The study's goal is to investigate the relationship between organizational identity and perceived corporate image. The study used a survey methodology to gather the data, which was then analyzed using IBM SPSS version 21.0's arithmetic mean, correlation, and regression functions. The study found that the notion of perceived corporate image is one of the fundamental ideas for being relevant and competitive in a globalized company environment. The link between perceived corporate image and employee engagement was examined in two distinct dimensions, external and internal, each with its own set of values. According to their own social responsibility ideals, an employee who believes that their company is renowned because it practices social responsibility may be more (or less) inclined to report involvement. Additionally, based on the study's findings, it was determined that there is a strong positive association between perceived internal and external image and organizational identity, and that both of the perceived corporate image's sub-dimensions had a favorable impact on that relationship. Future research might evaluate if, and to what extent, organizational culture influences corporate image and organization identity, according to the study's recommendations.

Monetary Policy Shocks and Health of the Banking Sector in Nigeria

This study examines the reaction of banking sector health to the shocks of monetary policy in Nigeria using a monthly time series dataset from January 2010 to December 2021. In the estimate instruments of monetary policy such as monetary policy rate, open buyback, treasury bills, liquidity ratio and cash reserve ratio were used while banking sector health was measured as loan-to-asset-ratio and loan-to-deposit ratio. In addition, the impulse response function was used as the technique of analysis. The results of this study reveal that monetary policy rate and cash reserve ratio impulse adverse shocks to banking sector health measured as a loan-to-asset ratio, while open buyback, treasury bills, and liquidity ratios have caused a positive shock to banking sector health. Differently, from the loan-to-deposit ratio, this study shows that shocks to the monetary policy rate, open buyback, and cash reserve ratio have transmitted negative shocks to the health of the banking sector. In addition, shocks from treasury bills and liquidity ratios have led to a positive reaction from the side of banking sector health. To make the banking sector so strong, the central bank should reduce the monetary policy rate and cash reserve ratio, and increase treasury bills and liquidity ratio.

Effect of Investment in Customer Relationship Management on the Performance of Mortgage Banks in Nigeria

Mortgage banks, due to the critical services they render by facilitating the provision of shelter, which is one of the basic needs of man, can benefit from focusing and concentrating on Customer Relationship Management as regards competitive advantage and corporate performance. However, the dynamic and competitive business environment in Nigerian mortgage banking sector has continued to experience stiffer competition in recent time. This study examined the effect of investment in customer relationship management on the performance of mortgage banks in Nigeria. It adopted ex-post facto research design and utilized panel data regression technique for data analysis. Secondary data was sourced from various published financial statements of the banks. The research study showed a positive impact of investment in customer relationship management (ICRM) on performance (profit after tax) of the mortgage banking sector in Nigeria. This is evidenced by the coefficient value of 9.9376; and the p-value of 0.0005 which is lower than the threshold significance value of 0.05. The study therefore concludes that corporate organizations in the mortgage banking sector in developing nations of the world such as Nigeria must adopt a balanced CRM strategy to achieve a desired level of growth in their performance across all regions and geographical locations.