Risk management has occupied an important place on the agenda of practitioners, academics and the business community and has been on the rise because it enhances organizational performance and creates value for shareholders. The main objective of this study is to examine the level of risk management implementation in the Nigerian banking sector. It will also determine the antecedents of risk management implementation. It will further investigate the moderating effect of top management support on the relationship between the antecedents and the level of risk management implementation. The research will adopt a quantitative approach using questionnaire. The need for more research on the level of risk management implementation in the banking sector has become imperative in view of the scarcity of research on risk management and the fact that risk management is still at its rudimentary stage in Nigeria.