TITLE:
Impact of Strategy Implementation on the Performance of Regulatory and Supervisory Agencies in Financial Services Sector in Nigeria
AUTHORS:
Ekechi Festus Onyegbula, May Ifeoma Nwoye, Cross Ogohi Daniel
KEYWORDS:
Strategy Implementation, Organisational Performance, Financial Services Sector, Nigeria, Regulatory Agencies
JOURNAL NAME:
Journal of Human Resource and Sustainability Studies,
Vol.11 No.2,
June
14,
2023
ABSTRACT: This study evaluates how strategy implementation affects the performance of regulatory and supervisory agencies in financial services sector in Nigeria. This study specifically assessed how adaptation of technology, strategic leadership, strategic communication, resource availability, and organisational structure affect performance in agencies. This study adopted a descriptive research design to collect primary data from 342 selected staff members of the CBN, NDIC, SEC and NAICOM. Data collected were analysed using both descriptive and inferential statistics. The results of the ordinary least squares (OLS) regression indicated that Adaptation of Technology, Strategic Leadership, Strategic Communication, Resource Availability, and Organisational Structure showed a positive and statistically significant (at 5%) relationship with organizational performance. The study concluded that the implementation of strategies can have a significant impact on the performance of regulatory and supervisory agencies in financial services in Nigeria. Therefore, there is the need for regulatory and supervisory agencies to embrace technology to improve their efficiency and effectiveness. Also, staff capacity-building programs and training sessions should be provided to enhance the skills and knowledge of regulatory and supervisory staff in the financial services sector.