EFFECT OF RISK MANAGEMENT COMMITTEE ATTRIBUTES ON FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

Abstract:  This study investigated the effect of risk management committee on financial performance of listed deposit money banks in Nigeria. Ex-post facto research design was used in this study. The population of this study would comprise of the fourteen (14) Commercial banks listed on the Nigerian Exchange Group as at the year 2023. The purposive sampling technique was adopted for this study. In this study secondary data source is employed. The data set covered the period 2013 to 2022 and was analysed using descriptive statistics and regression analysis. The result of the analysis shows that risk management committee size {-0.03 (0.789)} has a negative and insignificant effect on financial performance. Risk management committee independence {-0.88 (0.527)} ahad a negative and insignificant effect on financial performance. Risk management committee diligence {0.99 (0.000)} has a positive and significant effect on financial performance. The composite effect showed an r-square value of 0.385. It was concluded that only the variable of risk management committee diligence appears to significantly influence the financial performance of listed deposit money banks in Nigeria. The results also shows that risk management committee size and risk management committee independence have an insignificant effect on the financial performance of listed deposit money banks in Nigeria. It was recommended that Policies that will increase frequent risk management committee diligence interns of meetings should be reconsidered by management of the banks.

Keyword: Risk Management Committee, Financial Performance, Listed Deposit Money Banks and Nigeria.