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All Journal Journal of Business Studies and Management Review
Joel Obayagbona
University of Benin, Benin City
Decision Sciences, Operations Research & Management Social Sciences

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MONETARY POLICY AND INSURANCE SECTOR PERFORMANCE IN NIGERIA Joel Obayagbona; Mayowa Gabriel Ajao
JOURNAL OF BUSINESS STUDIES AND MANGEMENT REVIEW Vol. 5 No. 2 (2022): JBSMR, Vol. 5 No.2, June 2022
Publisher : Management Department, Faculty of Economics and Business, Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (200 KB) | DOI: 10.22437/jbsmr.v5i2.17813

Abstract

ABSTRACT The study empirically examines the effect of monetary policy on the performance of insurance sector in Nigeria for the period 1985 to 2021. The error correction model (ECM) and the cointegration econometric technique were employed for the estimation of the short run and long run relationship. The empirical findings revealed that in the short run, all the hypothesized monetary policy variables (monetary policy rate, cash reserve ratio, reserve requirement, minimum rediscount rate, money supply and interest rate) failed the 5 percent significance level, suggesting that they do not have significant effect on insurance sector performance in Nigeria in the short run. On the other hands, the results of the long run model indicate that monetary policy rate, cash reserve ratio and minimum rediscount rate have significant positive relationship with insurance sector performance. However, those of reserve requirement, money supply and interest rate do not have significant relationship with the performance of insurance sector in Nigeria within the period of investigation. The study recommends among others that since the result from the study has shown that Monetary policy rate significantly impact insurance performance, it therefore follows that activities of insurance firms as well as their overall performance can be adversely impacted by monetary policy decisions if not proactively prepared for and responded to. To this end, management should evolve appropriate strategy that would enable them proactively tackle unfavourable business environment resulting in macroeconomic risks in order to avoid adverse operating losses.
RISK MANAGEMENT AND PERFORMANCE OF THE NIGERIAN BANKING INDUSTRY Joel Obayagbona; Manson Osagiende
JOURNAL OF BUSINESS STUDIES AND MANGEMENT REVIEW Vol. 6 No. 2 (2023): JBSMR, Vol. 6 No.2, June 2023
Publisher : Management Department, Faculty of Economics and Business, Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/jbsmr.v6i2.24891

Abstract

The study examines the relationship between risk management and the performance of the Nigerian banking industry. The panel data analysis technique based on the fixed effects estimation was employed to analyze the Nigerian banking industry performance. Risk management related factors such as credit risk, liquidity risk, market risk, interest rate risk and operational risk. A total of 18 most active deposit money banks listed on the Nigerian Stock Market for a period of 22 years (2000 to 2021) were used in the analysis. The empirical findings revealed that credit risk and operational risk variables were negative and do not have any significant relationship with the performance of the Nigerian banking industry while liquidity risk and market risk have significant positive effect on bank performance, interest rate risk has significant negative relationship with banks performance in Nigeria within the period of study. The study recommends among others that, banks’ management should have proper understanding of how credit policy affects the operations of their banks to ensure judicious utilization of deposits and maximize profit. Improper credit risk management reduces bank profitability, affects the quality of its assets and increases loan losses and non-performing loan which may eventually lead to financial distress.
Co-Authors Manson Osagiende Mayowa Gabriel Ajao