THE IMPACT OF REGULATORY COMPLIANCE ON BUSINESS PERFORMANCE
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- NGN 3000
This study explores the impact of regulatory compliance on business performance. Objectives include: (1) evaluating the effectiveness of compliance practices in mitigating risks, (2) analyzing the relationship between compliance and operational efficiency, and (3) assessing the long-term effects on business sustainability. A survey design is employed to gather data from a broad range of respondents. Using Taro Yamane's formula, a sample size of 320 is derived, ensuring statistical significance and reliability. The case study focuses on the financial services sector in Lagos, Nigeria, where regulatory compliance is critical. The reliability coefficient score is 0.85, indicating high reliability. Findings reveal that robust regulatory compliance practices significantly enhance business performance by mitigating risks, ensuring operational efficiency, and promoting long-term sustainability. Recommendations include implementing comprehensive compliance frameworks and regularly training staff on regulatory requirements to maximize compliance effectiveness.
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