Security Management and the Performance of Nigerian Deposit Money Banks

The deposit money banks (DMBs) have been affected by cases of robbery attacks in recent times in Nigeria. The study examined the security management and the performance of DMBs in Nigeria. The study used building perimeter fences, recruiting security experts, surveillance installations, and access control systems as security management strategies to assess bank performance in Nigeria. The study applied the primary data through telephone WhatsApp interviews. The population of the study was 5385 sourced from the Central Bank of Nigeria as of 2020 with 371 sample size from 17 branch managers of a total of 22 DMBs. The study employed ANOVA for the analysis. The study found building perimeter fences, recruiting security experts, surveillance installations, and access control systems positive and significant variables that impact bank performance in Nigeria. The study recommends digital approaches for managing the security environment.