SUSTAINABLE BANKING PRACTICES ON SOCIAL AND ENVIRONMENTAL RISK MANAGEMENT IN NIGERIA
Abstract
The study aims to show how effective risk management can be implemented in the Nigerian banking industry, as well as how various risks associated with Nigerian banks' performance can be mitigated by following the sustainable banking principle, which encourages effective risk management in Nigerian banks. A survey research design was used in this study. The population of the study is 19,982 members of staff that are in all the First Bank branches across Nigeria. The officers that are needed for this research are management staff, risk officers, sustainability officers, and accountants. The estimated number of risk officers and sustainability officers in all the First Bank branches across Nigeria are 1650 and 1805 respectively. The total number of relevant officers for this research is 257 in number which is selected from five major branches and the Headquarters of First Bank in the whole of Nigeria. The sample size was 157. Data collected were analyzed using a statistical package for social science students (SPSS) while Chi-square was used to test the hypotheses formulated. The two hypotheses which were tested in the research work showed a clear indication of the positive contribution of sustainability principles adoption on risk management, profitability, and bank reputation in First Bank Plc. The two hypotheses tested showed chi-square test values of 11.949 and 15.834 with a p. Value of 0.018 and 0.0003 which shows that the tests are statistically significant at a 5% significance level. It was concluded that the banks' goodwill had increased tremendously as a result of their sustainability, which boosted their external image and attracted more customers through word-of-mouth advertising, which is very effective in Nigeria. The government should therefore encourage banks to adopt sustainable banking as an important component of their critical strategy for long-term goals and sustainability that improve people's lives, according to the recommendation.Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Dr. Olajide Solomon Fadun, Leke Ebenezer Akindipe

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
The Annals of Spiru Haret University. Economic Series operates under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, granting authors full copyright of their work without restrictions. This licensing framework ensures that the journal’s content can be shared and adapted non-commercially, provided appropriate credit is given and derivative works are distributed under the same terms.
By adhering to these principles, the journal reaffirms its commitment to promoting high-caliber research and supporting the global exchange of economic knowledge.