Banking resilience and government response during the COVID-19 pandemic: Evidence from Nigeria
In a global pandemic, there is a need for banks to improve service delivery through financial technologies. Since the fight against COVID-19 is the community responsibility, the role of banks in channeling cash to all stakeholders is essential for the contemporary human race. This study investigated...
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2023-06-01
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| Series: | Banks and Bank Systems |
| Subjects: | |
| Online Access: | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/18293/BBS_2023_02_Afolabi.pdf |
| _version_ | 1797804386078949376 |
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| author | Taofeek Sola Afolabi Thomas Duro Ayodele Oyinlola Morounfoluwa Akinyede Olanrewaju David Adeyanju Harley Tega Williams |
| author_facet | Taofeek Sola Afolabi Thomas Duro Ayodele Oyinlola Morounfoluwa Akinyede Olanrewaju David Adeyanju Harley Tega Williams |
| author_sort | Taofeek Sola Afolabi |
| collection | DOAJ |
| description | In a global pandemic, there is a need for banks to improve service delivery through financial technologies. Since the fight against COVID-19 is the community responsibility, the role of banks in channeling cash to all stakeholders is essential for the contemporary human race. This study investigated the impact of the government response to COVID-19 on the resilience of banks. A multivariate Structural Equation Model (SEM) was used to specify the links between the exogenous factors (government’s social and financial responses) and the endogenous variables (resilience of bank customers, employees and investors). A research survey approach was used where 543 respondents were sampled. A self-constructed online questionnaire was used to harvest responses from customers, employees and investors of the selected banks. The result of the analysis showed a significant relationship between government’s social response and the resilience of bank customers. However, such a relationship does not hold between government’s social responses and other resilience indicators (employees and investors). Furthermore, the result revealed that government’s financial responses do not affect the resilience of banks. The study concluded that the government’s social response during the COVID-19 pandemic influenced bank customers’ resilience in Nigeria. It was recommended that banks, as part of the policy, develop tools to complement government actions during the pandemic, thereby ameliorating its impact on their customers.
AcknowledgmentThe authors will like to acknowledge all respondents who took part in the survey. |
| first_indexed | 2024-03-13T05:36:25Z |
| format | Article |
| id | doaj.art-424b0064025a40bc90ca2f054c9895ed |
| institution | Directory Open Access Journal |
| issn | 1816-7403 1991-7074 |
| language | English |
| last_indexed | 2024-03-13T05:36:25Z |
| publishDate | 2023-06-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Banks and Bank Systems |
| spelling | doaj.art-424b0064025a40bc90ca2f054c9895ed2023-06-14T07:07:30ZengLLC "CPC "Business Perspectives"Banks and Bank Systems1816-74031991-70742023-06-0118221422710.21511/bbs.18(2).2023.1818293Banking resilience and government response during the COVID-19 pandemic: Evidence from NigeriaTaofeek Sola Afolabi0https://orcid.org/0000-0002-9371-6176Thomas Duro Ayodele1https://orcid.org/0000-0002-0070-2948Oyinlola Morounfoluwa Akinyede2https://orcid.org/0000-0001-6587-0531Olanrewaju David Adeyanju3https://orcid.org/0000-0003-0041-1929Harley Tega Williams4https://orcid.org/0000-0003-1348-4369Ph.D., Senior Lecturer, Faculty of Management Sciences, Department of Finance, Redeemer’s UniversityPh.D., Associate Professor, Faculty of Management Sciences, Department of Finance, Redeemer’s UniversityPh.D., Senior Lecturer, Faculty of Management Sciences, Department of Finance, Redeemer’s UniversityPh.D., Senior Lecturer, Faculty of Management Sciences, Department of Accounting, Redeemer’s UniversityMSc., Lecturer I, Faculty of Management Sciences, Department of Finance, Redeemer’s UniversityIn a global pandemic, there is a need for banks to improve service delivery through financial technologies. Since the fight against COVID-19 is the community responsibility, the role of banks in channeling cash to all stakeholders is essential for the contemporary human race. This study investigated the impact of the government response to COVID-19 on the resilience of banks. A multivariate Structural Equation Model (SEM) was used to specify the links between the exogenous factors (government’s social and financial responses) and the endogenous variables (resilience of bank customers, employees and investors). A research survey approach was used where 543 respondents were sampled. A self-constructed online questionnaire was used to harvest responses from customers, employees and investors of the selected banks. The result of the analysis showed a significant relationship between government’s social response and the resilience of bank customers. However, such a relationship does not hold between government’s social responses and other resilience indicators (employees and investors). Furthermore, the result revealed that government’s financial responses do not affect the resilience of banks. The study concluded that the government’s social response during the COVID-19 pandemic influenced bank customers’ resilience in Nigeria. It was recommended that banks, as part of the policy, develop tools to complement government actions during the pandemic, thereby ameliorating its impact on their customers. AcknowledgmentThe authors will like to acknowledge all respondents who took part in the survey.https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/18293/BBS_2023_02_Afolabi.pdfcustomersemployeesgovernmentinvestorspandemicresilience |
| spellingShingle | Taofeek Sola Afolabi Thomas Duro Ayodele Oyinlola Morounfoluwa Akinyede Olanrewaju David Adeyanju Harley Tega Williams Banking resilience and government response during the COVID-19 pandemic: Evidence from Nigeria Banks and Bank Systems customers employees government investors pandemic resilience |
| title | Banking resilience and government response during the COVID-19 pandemic: Evidence from Nigeria |
| title_full | Banking resilience and government response during the COVID-19 pandemic: Evidence from Nigeria |
| title_fullStr | Banking resilience and government response during the COVID-19 pandemic: Evidence from Nigeria |
| title_full_unstemmed | Banking resilience and government response during the COVID-19 pandemic: Evidence from Nigeria |
| title_short | Banking resilience and government response during the COVID-19 pandemic: Evidence from Nigeria |
| title_sort | banking resilience and government response during the covid 19 pandemic evidence from nigeria |
| topic | customers employees government investors pandemic resilience |
| url | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/18293/BBS_2023_02_Afolabi.pdf |
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