THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
This study examined the effect of risk management committee on the financial performance of listed Deposit Money Banks (DMBs) in Nigeria. Financial performance which is the dependent variable was proxied by return on assets (ROA), while enterprise risk management as the independent variable was pro...
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| Format: | Article |
| Language: | English |
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Department of Accounting and Finance, Federal University Gusau
2025-04-01
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| Series: | Gusau Journal of Accounting and Finance |
| Subjects: | |
| Online Access: | https://www.journals.gujaf.com.ng/index.php/gujaf/article/view/414 |
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| _version_ | 1849225284683825152 |
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| author | Blessing Unekuojo Oguche Luka Mailafia Aliyu Abdullahi AHMED |
| author_facet | Blessing Unekuojo Oguche Luka Mailafia Aliyu Abdullahi AHMED |
| author_sort | Blessing Unekuojo Oguche |
| collection | DOAJ |
| description |
This study examined the effect of risk management committee on the financial performance of listed Deposit Money Banks (DMBs) in Nigeria. Financial performance which is the dependent variable was proxied by return on assets (ROA), while enterprise risk management as the independent variable was proxied by risk management committee independence, risk committee size, ISO 27001 framework and COSO framework. Data were collected from secondary source. The data were extracted from the audited annual reports of the 14 listed DMBs on the Nigerian Exchange (NGX) for the period of 2016-2022. The study employed the Generalized Least Square (GLS) regression technique in analyzing the study data. The findings revealed that ISO 27001 framework and COSO framework have a positive and significant effect on the financial performance of listed DMBs in Nigeria. Hence, it was concluded that ISO 27001 framework and COSO framework are among the major determinants of financial performance of listed DMBs in Nigeria. It was recommended that the managements of the listed DMBs in Nigeria should increase the use of ISO 27001 and COSO framework to assist them in mitigating risk and increasing the financial performance of the banks.
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| format | Article |
| id | doaj-art-d09842fcc61d47fb99dc7cde87bb2d02 |
| institution | Kabale University |
| issn | 2756-665X 2756-6897 |
| language | English |
| publishDate | 2025-04-01 |
| publisher | Department of Accounting and Finance, Federal University Gusau |
| record_format | Article |
| series | Gusau Journal of Accounting and Finance |
| spelling | doaj-art-d09842fcc61d47fb99dc7cde87bb2d022025-08-25T05:06:46ZengDepartment of Accounting and Finance, Federal University GusauGusau Journal of Accounting and Finance2756-665X2756-68972025-04-016210.57233/gujaf.v6i2.03THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIABlessing Unekuojo Oguche0Luka Mailafia1Aliyu Abdullahi AHMED2Ahmadu Bello University ZariaAhmadu Bello University ZariaAhmadu Bello University Zaria This study examined the effect of risk management committee on the financial performance of listed Deposit Money Banks (DMBs) in Nigeria. Financial performance which is the dependent variable was proxied by return on assets (ROA), while enterprise risk management as the independent variable was proxied by risk management committee independence, risk committee size, ISO 27001 framework and COSO framework. Data were collected from secondary source. The data were extracted from the audited annual reports of the 14 listed DMBs on the Nigerian Exchange (NGX) for the period of 2016-2022. The study employed the Generalized Least Square (GLS) regression technique in analyzing the study data. The findings revealed that ISO 27001 framework and COSO framework have a positive and significant effect on the financial performance of listed DMBs in Nigeria. Hence, it was concluded that ISO 27001 framework and COSO framework are among the major determinants of financial performance of listed DMBs in Nigeria. It was recommended that the managements of the listed DMBs in Nigeria should increase the use of ISO 27001 and COSO framework to assist them in mitigating risk and increasing the financial performance of the banks. https://www.journals.gujaf.com.ng/index.php/gujaf/article/view/414Deposit money banksenterprise risk managementfinancial performanceNigeria |
| spellingShingle | Blessing Unekuojo Oguche Luka Mailafia Aliyu Abdullahi AHMED THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA Gusau Journal of Accounting and Finance Deposit money banks enterprise risk management financial performance Nigeria |
| title | THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA |
| title_full | THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA |
| title_fullStr | THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA |
| title_full_unstemmed | THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA |
| title_short | THE EFFECT OF RISK MANAGEMENT COMMITTEE ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA |
| title_sort | effect of risk management committee on the financial performance of listed deposit money banks in nigeria |
| topic | Deposit money banks enterprise risk management financial performance Nigeria |
| url | https://www.journals.gujaf.com.ng/index.php/gujaf/article/view/414 |
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