IMPACT OF RECESSION ON RISK MANAGEMENT SYSTEMS IN NIGERIAN BANKS
IMPACT OF RECESSION ON RISK MANAGEMENT SYSTEMS IN NIGERIAN BANKS
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Date
2010-02
Authors
Uchechi, NWOKEKE
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Abstract
ABSTRACT
One of the major consequences of recession is a general slowdown in economic
activity over a period of time. It therefore beholds and organization to set up a
robust Risk management to assist in consolidating property values, claims,
policy and exposure information and provide the tracking and management
reporting capabilities to enable the organization monitor and control its overall
cost of risk. Unfortunately, unavoidable risks, the category to which recession
belongs, is mostly ignored. This study therefore is an attempt at assessing the
impact of recession on risk management systems and to appraise the
effectiveness of the banks general risk management system. The study takes
the form of a survey research, with questionnaires and interviews being the
dominant source of data collected. Charts and tables have been extensively
employed in presenting available data while the chi-square test was used in
testing the stated hypothesis. The analysis of data shows that there is a
significant relationship between the global financial crisis and the risk
management systems of Nigerian banks. The global financial crisis placed a
strain on existing risk management systems of banks in Nigeria The study
therefore recommends a strict adherence to the risk management system in
place while the practice of constant review of this system should be adopted.
Description
DEPARTMENT OF BUSINESS ADMINISTRATION,
FACULTY OF ADMINISTRATION,
AHMADU BELLO UNIVERSITY, ZARIA.
Keywords
IMPACT,, RECESSION, RISK,, MANAGEMENT,, SYSTEMS,, NIGERIAN,, BANKS.