Credit Risk Management and Efficiency of Savings and Credit Cooperative Society in Lagos State

Gbenga I . Olorunsola PhD, ACA, Fcib, Adedoyin Bunmi-Alo and Oyekunbi Olubukola Dele- Oladejo PhD
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Gbenga I . Olorunsola PhD, ACA, Fcib: Department of Management and Accounting, Lead City University, Ibadan, Nigeria
Adedoyin Bunmi-Alo: Department of Banking and Finance, Covenant University, Ota, Nigeria
Oyekunbi Olubukola Dele- Oladejo PhD: Department of Management Studies, Dominican University ,Samonda Ibadan, Nigeria

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 3, 505-515

Abstract: The objective of this study was to examine the effect of credit risk management on organizational efficiency of Savings and Credit Co-operative Society in Lagos State. The study used a survey-style descriptive research design with a quantitative research methodology. The study population covered all the credit officers and managers of Savings ad Credit Co-operative Society in Lagos state. Out of which 25 credit officers and 5 managers were chosen using purposive sampling technique. To meet the specific objectives of this study, further analysis of the data collected from the respondents were carried out using Pearson correlation and multiple regression analysis techniques. The study set out to test three variables – credit risk identification, credit risk monitoring and credit risk control on the efficiency of Savings and Credit Cooperative Societies in Lagos. The multiple regression estimation results revealed that CRI, CRM and CRC have a positive effect on organizational efficiency of savings and credit corporative society in Lagos state with the coefficient values of 0.198, 0.101 and 0.141 respectively. This study therefore recommends that Savings and Credit Co-operative Society in Lagos State should establish procedures and systems to enforce credit risk identification, monitoring and control, such as committees and principles to ensure borrowers are kept in check at all times and the credit is secured at all cost, to avoid insolvency.

Date: 2023
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