The Extent Of Enterprise Risk Management Implementation In The Nigerian Banking Sector

There has been an unprecedented increase in the number of organisations adopting enterprise risk management (ERM) process in their operations across the world in recent times, due to its growing importance and influence. The quality of a satisfactory analysis is known by the quality of preliminary data screening and treatment. The primary aim of this research paper is to present data screening and preliminary analysis on the stage of ERM implementation in the Nigerian banking sector. Seven hundred and twenty-two questionnaires were distributed in three hundred and sixty-one branches of twenty-one commercial banks across the country. Data were entered into the Statistical Package for Social Science (SPSS) version 20. Data screening and cleaning were carried out to meet the assumption of the multivariate analysis. Consequently, analyses of missing data, outliers, descriptive statistical analysis, multicollinearity and confirmatory factor analysis (CFA) were performed through principal components analysis (PCA). The data will be subjected to further analysis using Logistic regression. Based on the preliminary result, the study has indicated that the data meet the requirements for subsequent multivariate analysis.