FINANCIAL MANAGEMENT CHALLENGES AND PERFORMANCE OF FINANCIAL INSTITUTIONS IN NIGERIA
This study looked at the relationship between financial management difficulties and financial institution performance in Nigeria empirically. There were three study questions and three research hypotheses put out to see whether there was any correlation between the variables. The questionnaire was the major data-gathering tool. A Spearman Rank Correlation Coefficient Statistic was used to test the hypotheses based on the data that was obtained. The findings of the study suggest that a lack of financial competence in Nigeria has a beneficial and substantial impact on the country’s banks. There is a correlation between the lack of financial policies in Nigeria and the lack of financial institutions. Lack of monitoring and control in Nigeria’s financial institutions has a positive and substantial correlation. There is a favourable and substantial correlation between financial mismanagement and financial institution performance, according to the findings of the research, it was recommended that management should also consider expanding the financial expertise, financial policies, and monitoring and control programs to cover all departments and reviews done to ensure the programs are relevant. This will improve financial management.
Keywords: Financial Expertise, Mismanagement, Policies and Financial Institutions