The Role of IFRS in Enhancing Liquidity Risk Management in Nigerian Banks
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Background of the Study
Liquidity risk is a critical concern for financial institutions, particularly banks, as it directly impacts their ability to meet obligations and maintain financial stability. The adoption of International Financial Reporting Standards (IFRS) has been widely regarded as an essential step toward enhancing transparency and improving financial stability in banks. However, the role of IFRS in enhancing liquidity risk management specifically within Nigerian banks remains under-researched. This study aims to explore how IFRS adoption impacts the liquidity risk management practices of Nigerian banks, examining the reporting requirements of IFRS and their implications for liquidity risk.
Statement of the Problem
The banking sector in Nigeria faces significant liquidity risk challenges, and while IFRS adoption aims to enhance financial transparency, its effect on liquidity risk management practices is not well understood. This study seeks to assess how IFRS compliance influences liquidity risk management in Nigerian banks, specifically in terms of improving financial stability and risk mitigation.
Aim and Objectives of the Study
Aim:
To examine the role of IFRS in enhancing liquidity risk management in Nigerian banks.
Objectives:
To assess the level of IFRS compliance among Nigerian banks in relation to liquidity risk management.
To investigate the relationship between IFRS adoption and liquidity risk mitigation strategies in Nigerian banks.
To explore how IFRS reporting requirements contribute to improved liquidity risk management in Nigerian banks.
Research Questions
What is the level of IFRS compliance in liquidity risk management among Nigerian banks?
How does IFRS adoption affect liquidity risk mitigation strategies in Nigerian banks?
What is the relationship between IFRS compliance and liquidity risk management in Nigerian banks?
Research Hypotheses
IFRS compliance significantly enhances liquidity risk management in Nigerian banks.
Nigerian banks with higher IFRS compliance exhibit stronger liquidity risk mitigation strategies.
There is a positive relationship between the quality of IFRS compliance and the effectiveness of liquidity risk management in Nigerian banks.
Significance of the Study
This study will provide a deeper understanding of the role of IFRS in enhancing liquidity risk management within Nigerian banks. The findings will be valuable for regulatory bodies, financial institutions, and policymakers in strengthening liquidity risk management frameworks, particularly in the context of IFRS adoption.
Scope and Limitation of the Study
The study will focus on Nigerian banks that have adopted IFRS and their liquidity risk management strategies. Limitations include the availability of comprehensive data on liquidity risk and potential variations in compliance levels across different banking institutions.
Definition of Terms
Liquidity Risk: The risk that a bank will not be able to meet its short-term financial obligations due to an imbalance between liquid assets and liabilities.
IFRS Compliance: The adherence of Nigerian banks to the International Financial Reporting Standards in preparing their financial statements, particularly in relation to liquidity reporting.
Risk Management: The strategies and processes used by banks to identify, assess, and mitigate liquidity risks.
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