Survey of Investment Strategies and Efficiency of Financial Institutions in Nigeria

Chinedu B Ezirim

The Icfai Journal of Applied Economics, 2008, vol. VII, issue 3, pages 23-36

Abstract: This paper empirically extends the analysis of investment strategies of financial institutions to four most important divides in the Nigerian financial system, namely, the commercial banks, merchant banks, insurance companies and finance houses. The research is designed on the quasi-experimental approach using the questionnaire as the critical research instrument. The results indicate that there is resurgence of a new breeze of strategic management orientation characterized by the presence of longer-range financial objectives coexisting with short-term investment objectives among the financial institutions in general. This implies the fast disappearance of the erstwhile financial management myopia that had rocked them over the years. Notwithstanding, their investment strategies showed the supremacy of investing in short-term transactions followed by high-profitability investing. The findings further indicated that the institutions considered their investment operations to be efficient owing mainly to the presence of high quality and experienced staff, innovativeness and adaptability, and aggressive investment policy and orientation. The need to maintain and develop the existing and new personnel would ensure continued efficiency.

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